Tenax Therapeutics ( (TENX) ) has released its Q4 earnings. Here is a breakdown of the information Tenax Therapeutics presented to its investors.
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Tenax Therapeutics, Inc. is a development-stage pharmaceutical company focused on creating innovative cardiopulmonary therapies, particularly for pulmonary hypertension with heart failure with preserved ejection fraction (PH-HFpEF), using its proprietary drug candidate, levosimendan.
In its latest earnings report, Tenax Therapeutics highlighted significant corporate progress and financial results for the year ending December 31, 2024. The company successfully raised approximately $125 million through private placements to support its ongoing Phase 3 studies and operations through 2027.
Key financial metrics revealed an increase in research and development expenses to $12.7 million for 2024, driven by the Phase 3 LEVEL study for TNX-103. General and administrative expenses also rose to $6.8 million, primarily due to stock-based compensation. The company reported a net loss of $17.6 million for the year, reflecting its strategic investments in clinical trials and operational expansion.
Strategically, Tenax is advancing its TNX-103 program, with the FDA reviewing its updated Phase 3 development plan. The company aims to complete enrollment for the LEVEL study by the end of 2025, with topline data expected in mid-2026. Additionally, a second Phase 3 study, LEVEL-2, is set to begin this year.
Looking ahead, Tenax Therapeutics remains committed to its lean cost structure and responsible capital management, positioning itself to potentially bring TNX-103 to market and improve the quality of life for patients with PH-HFpEF.