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Tenax Therapeutics
(NASDAQ:TENX)
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Rating:58Neutral
Price Target:
$18.00
▲(24.57% Upside)
Action:Reiterated
Date:07/03/26
The score is capped by weak financial performance—no revenue, expanding losses, and significant cash burn—despite a debt-free balance sheet. Offsetting this, technicals show strong bullish momentum, and recent corporate events are supportive with a near-term Phase 3 catalyst (August 2026 topline results) and improved supply/licensing visibility.
Positive Factors
Phase 3 clinical catalyst
A registrational Phase 3 readout (Aug 2026) with a late-breaking ESC slot and >230 enrolled patients materially de-risks the program if positive. A successful, well-powered outcome can shift Tenax from development to regulatory/ commercial trajectory, altering partnerships, licensing and access dynamics for months to years.
Negative Factors
Pre-revenue, widening losses
Being pre-revenue with rapidly increasing operating losses creates a structural funding dependency: ongoing negative EBIT and net losses mean the company must secure substantial external capital or partnerships to sustain operations absent approval. That dependency elevates dilution and execution risk over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Phase 3 clinical catalyst
A registrational Phase 3 readout (Aug 2026) with a late-breaking ESC slot and >230 enrolled patients materially de-risks the program if positive. A successful, well-powered outcome can shift Tenax from development to regulatory/ commercial trajectory, altering partnerships, licensing and access dynamics for months to years.
Read all positive factors
Tenax Therapeutics (TENX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$470.29M
Dividend YieldN/A
Average Volume (3M)1.18M
Price to Earnings (P/E)―
Beta (1Y)0.53
Revenue GrowthN/A
EPS Growth43.48%
CountryUS
Employees14
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.41
Shares Outstanding26,525,160
10 Day Avg. Volume1,644,077
30 Day Avg. Volume1,177,092
Financial Highlights & Ratios
PEG Ratio-0.55
Price to Book (P/B)4.92
Price to Sales (P/S)0.00
P/FCF Ratio-13.35
Enterprise Value/Market Cap0.18
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-1.47
Forecast
1Y Price Target
$37.40Price Target Upside158.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-1.84
Revenue Forecast (FY)N/A
Tenax Therapeutics Business Overview & Revenue Model
Company Description
Tenax Therapeutics, Inc. is a specialized pharmaceutical enterprise dedicated to discovering, advancing, and bringing to market therapies for cardiovascular and pulmonary conditions throughout the United States and Canada. Its product pipeline fea...
How the Company Makes Money
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Tenax Therapeutics Financial Statement Overview
Summary
Income Statement
6
Very Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -57.91M | -52.60M | -17.58M | -7.68M | -10.93M | -32.36M |
| Net Income | -57.91M | -52.60M | -17.60M | -7.71M | -11.05M | -32.47M |
Balance Sheet | ||||||
| Total Assets | 123.18M | 104.23M | 96.69M | 11.68M | 3.40M | 5.99M |
| Cash, Cash Equivalents and Short-Term Investments | 118.75M | 97.56M | 94.85M | 9.79M | 2.12M | 5.58M |
| Total Debt | 0.00 | 0.00 | 0.00 | 500.90K | 807.89K | 290.78K |
| Total Liabilities | 8.49M | 7.16M | 4.69M | 3.59M | 1.91M | 1.75M |
| Stockholders Equity | 114.69M | 97.07M | 91.99M | 8.10M | 1.49M | 4.24M |
Cash Flow | ||||||
| Free Cash Flow | -38.14M | -35.80M | -14.81M | -5.90M | -12.02M | -10.86M |
| Operating Cash Flow | -38.14M | -35.80M | -14.81M | -5.90M | -12.01M | -10.86M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | 3.00K | -2.32K | 452.61K |
| Financing Cash Flow | 45.45M | 38.51M | 99.87M | 13.57M | 8.55M | 9.74M |
Tenax Therapeutics Technical Analysis
Positive
14.45
Price Trends
12.59
Positive
13.14
Positive
11.60
Positive
Market Momentum
1.44
Negative
77.24
Negative
92.16
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TENX, the sentiment is Positive. The current price of 14.45 is above the 20-day moving average (MA) of 13.56, above the 50-day MA of 12.59, and above the 200-day MA of 11.60, indicating a bullish trend. The MACD of 1.44 indicates Negative momentum. The RSI at 77.24 is Negative, neither overbought nor oversold. The STOCH value of 92.16 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TENX.
Tenax Therapeutics Risk Analysis
Tenax Therapeutics disclosed 35 risk factors in its most recent earnings report. Tenax Therapeutics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tenax Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $672.35M | -5.86 | -71.22% | ― | ― | 55.59% | |
58 Neutral | $470.29M | -12.99 | -56.32% | ― | ― | 43.48% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $21.71M | -1.39 | -74.15% | ― | -24.96% | 46.11% | |
45 Neutral | $15.78M | -0.16 | -309.60% | ― | ― | 65.65% | |
44 Neutral | $20.32M | -0.57 | -119.92% | ― | -45.35% | 58.32% | |
43 Neutral | $2.74M | -0.03 | ― | ― | ― | 76.55% |
* Healthcare Sector Average
TENX
Tenax Therapeutics
18.32
12.55
217.50%
TPST
Tempest Therapeutics
0.97
-6.39
-86.77%
RLMD
Relmada Therapeutics
6.51
5.84
871.64%
VYNE
VYNE Therapeutics
0.67
-0.71
-51.30%
LGVN
Longeveron
0.65
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CLDI
Calidi Biotherapeutics
0.15
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-98.76%
Tenax Therapeutics Corporate Events
Business Operations and StrategyProduct-Related Announcements
Tenax Therapeutics highlights key Phase 3 LEVEL trial
Positive
Jul 2, 2026
On July 2, 2026, Tenax Therapeutics announced that data from its registrational Phase 3 LEVEL trial of TNX-103, an oral form of levosimendan for pulmonary hypertension in heart failure with preserved ejection fraction, will be featured in a Late-B...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Tenax and Orion Secure Long-Term Levosimendan Supply Deal
Positive
Jun 30, 2026
On June 29, 2026, Tenax Therapeutics and Orion Corporation entered into a Supply Agreement under which Orion will serve as the primary manufacturer and supplier of Tenax’s orally administered levosimendan product for development and, if appr...
Business Operations and StrategyExecutive/Board Changes
Tenax Therapeutics Updates Executive and Employee Severance Protections
Positive
Jun 29, 2026
On June 26, 2026, Tenax Therapeutics’ board approved amendments to the employment agreements of executives Christopher Giordano, Thomas Staab, and Stuart Rich, aligning their severance and change-in-control protections with newly established...
Executive/Board ChangesShareholder Meetings
Tenax Therapeutics Announces Results of 2026 Annual Meeting
Neutral
Jun 4, 2026
On June 2, 2026, Tenax Therapeutics, Inc. held its 2026 annual meeting of stockholders, where shareholders elected seven directors, including June Almenoff, Michael Davidson, Declan Doogan, Christopher T. Giordano, Robyn M. Hunter, Gerald T. Proeh...
Business Operations and StrategyExecutive/Board Changes
Tenax Therapeutics Names New CFO to Support Growth
Positive
Apr 22, 2026
On April 22, 2026, Tenax Therapeutics appointed veteran healthcare finance executive Thomas R. Staab, II as chief financial officer, effective May 11, 2026, succeeding interim CFO Thomas A. McGauley, who will remain in a consulting role through th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.