TENX PRESS-RELEASE SEC Filing Analysis

Latest settled — T+5d ⚠ clustered

TENX ▼ -4.52% at T+5d

NEUTRAL call ✗ call lost -4.52% · α vs SPY -4.60% · entry $12.17 → $11.62

Next anchor: T+20d due 3d ago

Currently $11.48 · -5.67% from $12.17 entry

Entry anchored
May 11, 03:59 PM ET
via Databento tick

T+1d

-2.14%

call -2.14% · α -2.71%

$11.91

settled 4w ago

T+5d

-4.52%

call -4.52% · α -4.60%

$11.62

settled 25d ago

T+20d

—

call — · α —

—

due 3d ago

T+60d

—

call — · α —

—

in 8w

Price Chart

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Executive Summary

Tenax Therapeutics reported Q1 2026 EPS of -$0.35, beating consensus of -$0.40 by 12.5%, but net loss widened to $15.7M from $10.4M a year ago due to increased R&D spending on Phase 3 trials. The key catalyst is the upcoming Phase 3 LEVEL topline data in Q3 2026, with cash runway extended through Q1 2028.

Actionable Insight

The stock will trade on Phase 3 LEVEL topline data expected in Q3 2026 — a binary event. Monitor for any data readouts or regulatory updates. The cash runway through Q1 2028 removes near-term financing risk.

Key Facts

EPS of -$0.35 beat consensus of -$0.40 by 12.5%
Net loss of $15.7M vs $10.4M in Q1 2025
Cash and equivalents of $118.8M, up from $97.6M at year-end 2025
Phase 3 LEVEL study fully randomized (>230 patients); topline data expected Q3 2026
Phase 3 LEVEL-2 trial ongoing; enrollment completion expected by end of 2027
Appointed new CFO, CCO, and EVP of Clinical Development
Cash runway extended through at least Q1 2028

Financial Impact

Net loss of $15.7M in Q1 2026 vs $10.4M in Q1 2025; cash position $118.8M

net losscash positionR&D expenses

Risk Factors

Phase 3 LEVEL trial failure would be devastating for a single-asset company
Widening net loss and increasing R&D spend without revenue
Dilution risk from warrant exercises (shares outstanding more than doubled from Dec 2025 to Mar 2026)

Market Snapshot

Exchange

Nasdaq

Sector

Pharmaceutical Preparations

Analyst Consensus

92% bullish (12 analysts)

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3292681

6 reports for TENX

T+1T+5T+20T+60

Filters

Reports for TENX — sortable, filterable
	Type				Now
May 12, 2026 4w ago	8-K NEUTRAL ★ 4/10	$12.17 $11.62	▼ −4.52%	▼ −4.60%	$11.48 (−5.67%)
May 12, 2026 4w ago	Press Release NEUTRAL ★ 5/10	$12.17 $11.62	▼ −4.52%	▼ −4.60%	$11.48 (−5.67%)
Apr 22, 2026 7w ago	DEFA14A NEUTRAL ★ 3/10	$13.92 $14.11	▲ +1.33%	▲ +1.27%	$11.48 (−17.53%)
Apr 22, 2026 7w ago	8-K NEUTRAL ★ 3/10	$13.92 $14.11	▲ +1.33%	▲ +1.27%	$11.48 (−17.53%)
Mar 24, 2026 11w ago	S-3 NEUTRAL ★ 4/10	$13.23 $15.99	▲ +20.86%	▲ +21.28%	$11.48 (−13.23%)
Mar 10, 2026 13w ago	Press Release MIXED ★ 6/10	$14.51 $15.17	▲ +4.55%	▲ +5.45%	$11.48 (−20.88%)

US Market Status

Market Closed — Opens Mon (48h 47m)

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