Earnings ·
Tenax Therapeutics reports $17.8M net loss as R&D costs double to $12.9M, ending quarter with $118.0M in cash
TENXTenax Therapeutics, Inc.
Tenax Therapeutics reported second quarter 2026 financial results on July 31, 2026. The company ended the period with $118.0 million in cash and cash equivalents, extending its operational runway through the second quarter of 2028 following $13.4 million in proceeds from warrant exercises. Research and development expenses rose to $12.9 million from $6.1 million year-over-year due to costs for Phase 3 LEVEL and LEVEL-2 trials, while net loss widened to $17.8 million from $10.9 million. The company expects to report topline data from the Phase 3 LEVEL clinical trial in August 2026 and plans to present these results at the European Society of Cardiology Congress. Tenax Therapeutics is a development-stage pharmaceutical company focused on novel cardiopulmonary therapies for pulmonary hypertension associated with heart failure.