Tenax Therapeutics Stock Jumps On Strategic Alternative Review

  • Tenax Therapeutics Inc TENX is evaluating alternative strategic paths. Roth Capital Partners will support Tenax Therapeutics as its financial advisor in this process.
  • Tenax Therapeutics and its Board of Directors believe the company's current valuation does not accurately reflect the potential value of its clinical-stage pipeline.
  • Tenax Therapeutics is developing two Phase 3 ready assets - TNX-201 (modified release imatinib) for pulmonary arterial hypertension (PAH) and TNX-103 (oral levosimendan) for Pulmonary Hypertension with Heart Failure with Preserved Ejection Fraction (PH-HFpEF). 
  • There is no set timetable for the strategic review process, and Tenax Therapeutics does not intend to provide updates unless or until the Board approves a specific action or determines that disclosure is appropriate or necessary, the company said.
  • To optimize its financial resources through this strategic review process, the company is shifting the anticipated launch of the imatinib Phase 3 trial in PAH, previously anticipated to begin in 2H 2022, into 2023.
  • Price Action: TENX shares are up 15.5% at $0.27 during the premarket session on the last check Thursday.
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