Tenax Therapeutics cleared for TNX-103 Phase 3 trials, says Roth MKM

Roth MKM analyst Jonathan Aschoff made no change to the firm’s Buy rating or $6 price target on Tenax Therapeutics after the FDA cleared Tenax’s Phase 3 program that will evaluate TNX-103 in pulmonary hypertension with heart failure with preserved ejection fraction, the analyst tells investors in a research note. Roth MKM says it’s highly favorable that Tenax can utilize the 6-minute walk distance as the primary efficacy endpoint, given favorable Phase 2 results using this endpoint.