Tenax negotiates global levosimendan rights, says Roth MKM

Roth MKM tells investors in a research note that Tenax Therapeutics has secured global development, commercial, and patent rights to both oral and subcutaneous formulations of levosimendan to treat pulmonary arterial hypertension and heart failure with preserved ejection fraction, for which one of two pivotal trials has just started, expanding the company’s levosimendan rights beyond the U.S. and Canada. The firm, which made no change to its Buy rating or $30 price target, says the renegotiation allows Tenax to pursue a developmental and/or commercial partner for levosimendan, and views the changes as ultimately favorable for the company.