Tenax Therapeutics (TENX) AI Stock Analysis

• Market Cap: $82.85M
• Dividend Yield: N/A
• Average Volume (3M): 77.07K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.76
• Revenue Growth: N/A
• EPS Growth: 92.89%
• Country: US
• Employees: 4
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.40
• Shares Outstanding: 6,243,575
• 10 Day Avg. Volume: 87,220
• 30 Day Avg. Volume: 77,066
• PEG Ratio: 0.06
• Price to Book (P/B): 1.03
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.38
• Enterprise Value/Market Cap: 2.45
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -4.69
• 1Y Price Target: $25.00
• Price Target Upside: 94.55% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 55 Neutral
• Price Target: $13.50 ▲(5.06% Upside)

TENX scores in the mid-range primarily due to very weak financial performance (no revenue, widening losses, and ongoing cash burn) despite a strong, debt-free balance sheet. Technicals are a meaningful positive with a clear uptrend and positive momentum indicators, but valuation remains unattractive due to continued losses and no dividend yield.

Positive Factors

Debt-free balance sheet

A zero-debt capital structure with materially higher equity and assets provides durable financial flexibility. This reduces near-term solvency risk, supports continued clinical investment without interest burdens, and gives management optionality to fund trials or pursue partnerships over the next several quarters.

Focused clinical-stage franchise

A clear strategic focus on cardiopulmonary indications concentrates R&D expertise and enables targeted development plans. This specialization can attract disease-specific partners, grant opportunities, and investor interest, increasing the likelihood of durable value creation if clinical milestones are met.

Improving cash burn trend

An improving FCF trend versus prior year suggests management is slowing cash consumption, which extends runway and reduces immediate financing needs. Sustained burn improvement bolsters the company's ability to reach pivotal trial stages or negotiate partnerships without urgent dilution.

Negative Factors

No revenue; widening net losses

Persistent absence of operating revenue combined with rapidly widening losses highlights a prolonged path to commercialization. Over multiple quarters this erodes reserves, forces reliance on external capital, and increases execution risk as the company must convert clinical progress into sustainable revenue to justify investment.

Sustained negative operating and free cash flow

Ongoing negative OCF and FCF mean the company consistently consumes cash to fund operations. Even with a strong equity base, repeated capital raises are likely, which can dilute shareholders and limit strategic autonomy. Long-term viability depends on reversing this cash outflow trend or securing non-dilutive funding.

Negative returns on equity

A materially negative ROE indicates capital deployed into R&D and operations is not generating economic returns. Over 2–6 months this suggests capital allocation has not yet translated into value creation and raises concerns about management's ability to convert clinical investments into profitable outcomes or successful exits.

Tenax Therapeutics Business Overview & Revenue Model

Company Description

Tenax Therapeutics, Inc., a specialty pharmaceutical company, engages in identifying, developing, and commercializing products for cardiovascular and pulmonary diseases in the United States and Canada. It develops TNX-103 and TNX-102 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of pulmonary arterial hypertension. The company was formerly known as Oxygen Biotherapeutics, Inc. and changed its name to Tenax Therapeutics, Inc. in September 2014. Tenax Therapeutics, Inc. was founded in 1967 and is headquartered in Morrisville, North Carolina.

How the Company Makes Money

Tenax Therapeutics makes money primarily through the development and commercialization of its pharmaceutical products. The company's revenue model is centered on the successful advancement of its drug candidates through clinical trials, regulatory approvals, and eventual market entry. Revenue streams include potential product sales, licensing agreements, and partnerships with other pharmaceutical companies. Key factors contributing to its earnings include the successful demonstration of clinical efficacy and safety of its drug candidates, strategic alliances with industry partners, and potential collaborations for the distribution and marketing of its products. The company's focus on targeting niche markets with high unmet medical needs may also play a significant role in its revenue generation strategies.

Tenax Therapeutics Financial Statement Overview

Summary

Tenax Therapeutics shows financial instability with zero revenue, negative profitability metrics, and ongoing operational losses. The company's strong equity position and liquidity are primarily due to external financing, which is unsustainable without revenue growth.

Income Statement

The company has consistently reported zero revenue over the years, leading to negative gross profit and net income figures. There is no visible revenue growth trajectory, and profitability metrics such as EBIT and EBITDA are negative, indicating significant losses.

Balance Sheet

The company has a strong equity position with zero total debt and a high equity ratio. However, the lack of revenue and consistent net losses are concerning for long-term sustainability. The cash reserves have been bolstered, which improves liquidity but does not offset the operational losses.

Cash Flow

Operating and free cash flows are negative, reflecting ongoing cash burn. While financing activities have significantly increased cash reserves, this reliance on external financing is not sustainable without revenue generation. The cash flow situation poses a risk if the company cannot turn operations profitable.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
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	-114.75K
EBITDA	-43.33M	-17.58M	-7.68M	-10.93M	-32.36M	-9.74M
Net Income	-43.33M	-17.60M	-7.71M	-11.05M	-32.47M	-9.85M
Balance Sheet
Total Assets	102.81M	96.69M	11.68M	3.40M	5.99M	6.87M
Cash, Cash Equivalents and Short-Term Investments	99.37M	94.85M	9.79M	2.12M	5.58M	6.71M
Total Debt	0.00	0.00	500.90K	807.89K	290.78K	305.04K
Total Liabilities	6.60M	4.69M	3.59M	1.91M	1.75M	2.24M
Stockholders Equity	96.21M	91.99M	8.10M	1.49M	4.24M	4.63M
Cash Flow
Free Cash Flow	-25.91M	-14.81M	-5.90M	-12.02M	-10.86M	-9.28M
Operating Cash Flow	-25.91M	-14.81M	-5.90M	-12.01M	-10.86M	-9.27M
Investing Cash Flow	0.00	0.00	3.00K	-2.32K	452.61K	20.11K
Financing Cash Flow	26.97M	99.87M	13.57M	8.55M	9.74M	10.60M

Tenax Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.85
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 12.85 is above the 20-day moving average (MA) of 11.74, above the 50-day MA of 9.47, and above the 200-day MA of 6.97, indicating a bullish trend. The MACD of 0.90 indicates Positive momentum. The RSI at 62.50 is Neutral, neither overbought nor oversold. The STOCH value of 63.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TENX.

Tenax Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RLMD	57 Neutral	$299.20M	-2.40	-196.79%	―	―	37.37%
TENX	55 Neutral	$82.85M	-11.33	-44.80%	―	―	92.89%
VYNE	55 Neutral	$18.43M	-0.70	-70.67%	―	6.29%	7.42%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CLDI	44 Neutral	$8.24M	-0.13	―	―	―	87.42%
TPST	43 Neutral	$13.89M	-0.28	-405.03%	―	―	49.43%
LGVN	40 Underperform	$12.51M	-0.46	-119.92%	―	-22.41%	78.88%