Tenax Therapeutics, Inc. (NASDAQ:TENX) recently made a strong reversal off new 52-week lows of $0.45 per share and is currently trading just a little bit higher right over $0.55 per share. The Company currently has two drugs Imatinib (TNX-201) and Levosimendan (TNX-101, TNX-102 and TNX-103) ready to begin phase 3 trials for PAH and pulmonary hypertension with left side heart failure and preserved ejection fraction (PH-HFpEF) respectively. With a significant naked short position in the stock and trading at a tiny $24 million market valuation TENX is at the top of investors’ watch lists.
In February Tenax completed a public offering selling 8.67 million shares or pre-funded warrant with associated warrants at $1.80 per unit. Two warrants with an exercise price of $2.25 per share were issued for each underlying equity share or pre-funded warrant. Proceeds will support the clinical development of imatinib and levosimendan for PAH and pulmonary hypertension with left side heart failure and preserved ejection fraction (PH-HFpEF) respectively. In February Tenax was issued a patent covering the use of IV levosimendan in the treatment of pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF). Tenax is currently waiting on the decision on another patent which could be a significant catalyst. Also, any announcement about partnership, funding or acquisition could take TENX far. We will be updating on TENX when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.
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Tenax Therapeutics Inc (NASDAQ: TENX) is a specialty pharmaceutical company focused on identifying, developing, and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical need. Tenax Therapeutics is developing a unique oral formulation of imatinib. The Company also owns North American rights to develop and commercialize subcutaneous and oral formulations of levosimendan.
Tenax products include Imatinib (TNX-201) and Levosimendan (TNX-101, TNX-102 and TNX-103). Tenax is developing novel dosing and a unique formulation of imatinib mesylate, a kinase inhibitor that has received FDA’s orphan designation (March 2020) for the treatment of pulmonary arterial hypertension (PAH). The IMPRES trial, a previous Phase 3 trial, demonstrated that oral imatinib may produce a markedly greater, and much more durable, treatment effect on exercise tolerance, than any other available PAH treatment, alone or in combination, based on the results observed in those patients who were maintained on the full imatinib dose for the majority of the trial. Despite the availability of several classes of pulmonary vasodilators, no existing treatment has been shown to halt progression or induce regression of the disease. Imatinib acts on underlying cellular proliferative pathways associated with PAH and has the potential to be the first disease modifying therapy for PAH.
$TENX
2.17m float
No options
No warrants
No way for shorts to hedge against a squeezeCash per share 1.65
Book value 2.64Patience pays pic.twitter.com/qcL6laRFJK
— JeffTheOmega1🌐(Jack Of All Trades) (@JeffTheOmega1) March 8, 2023
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Tenax is also developing Levosimendan; a unique potassium ATP channel activator and calcium sensitizer that affects the heart and vascular system through multiple mechanisms of action. Initially discovered and developed by Orion Corporation in Finland, intravenous levosimendan is approved in over 60 countries outside the United States for use in hospitalized patients with acutely decompensated heart failure.
Tenax Therapeutics has North American rights to develop and commercialize IV (TNX-101), subcutaneous (TNX-102), and oral (TNX-103) formulations of levosimendan. Results of Tenax Therapeutics’ Phase 2 trial of levosimendan in patients with pulmonary hypertension (PH) and heart failure with preserved ejection fraction (HFpEF) demonstrated that IV levosimendan produces potent dilation of the central and pulmonary venous circulations which translates into an improvement in exercise capacity, a discovery that forms the basis for the Phase 3 investigation of Tenax Therapeutics’ potential groundbreaking therapy. To date, no other drug therapy has improved exercise tolerance in patients with PH associated with HFpEF, recently referred to as the greatest unmet need in cardiovascular disease.
$TENX Roth rated Buy PT 6.00, Low float, Feb. Offering 1.80/2.25 & R/S closed
2 Patents
-1 Subcutaneous*
-1 Oral under review
-2 Ongoing FDA phase 3 trials*
*Patent any day now
*No FDA approved remedies yet
Sitting under .60 👀https://t.co/96jV7qPCjU…https://t.co/1nmhqqnEJH https://t.co/q2fwhWqt9H pic.twitter.com/YGFrEFOGDm— (Gully) Gullickson (@KrisGully2hawks) March 15, 2023
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Currently trading at a $24 million market valuation TENX os is 44.6 million shares and rising. The Company has a healthy balance sheet as per their latest 10Q with very little debt, only burning about $2.5 million a quarter and quickly advancing clinical trials of imatinib and levosimendan for PAH and pulmonary hypertension with left side heart failure and preserved ejection fraction (PH-HFpEF) respectively. In February the Company raised $15.7 million from its public offering at $1.80 per share. We will be updating on TENX when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.
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Disclosure: we hold no position in TENX either long or short and we have not been compensated for this article.
