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Tenax Therapeutics
(NASDAQ:TENX)
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Rating:42Neutral
Price Target:
$1.50
▼(-35.34% Downside)
Action:Reiterated
Date:10/09/26
TENX scores low primarily due to weak fundamentals (pre-revenue, large and widening losses, and accelerating cash burn), which raise ongoing funding/runway risk. Technical signals also reflect a strong downtrend with only an oversold RSI offering limited support. Valuation is not supported by earnings (negative P/E) and there is no dividend yield, while recent corporate events add clinical and timeline uncertainty after a Phase 3 miss and a subsequent trial enrollment pause.
Positive Factors
Low financial leverage
Effectively zero debt reduces refinancing pressure and interest obligations, giving Tenax greater financial flexibility while its programs remain in development. The larger equity base also supports a stronger asset position, although continued losses could erode it over time.
Negative Factors
Pre-revenue and widening losses
Tenax has no reported product revenue and continues to incur substantial operating and net losses, indicating that its development programs have not yet produced a commercial earnings base. Persistent losses extend the path to profitability and weaken earnings quality.
Read all positive and negative factors
Positive Factors
Negative Factors
Low financial leverage
Effectively zero debt reduces refinancing pressure and interest obligations, giving Tenax greater financial flexibility while its programs remain in development. The larger equity base also supports a stronger asset position, although continued losses could erode it over time.
Read all positive factors
Tenax Therapeutics (TENX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$68.49M
Dividend YieldN/A
Average Volume (3M)3.94M
Price to Earnings (P/E)―
Beta (1Y)0.48
Revenue GrowthN/A
EPS Growth-59.74%
CountryUS
Employees15
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.49
Shares Outstanding37,423,916
10 Day Avg. Volume2,110,629
30 Day Avg. Volume3,935,042
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 Cap9.08
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda-9.45
Forecast
1Y Price Target
$9.63Price Target Upside314.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)-1.45
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
As a clinical-stage biotechnology/pharmaceutical company, Tenax Therapeutics generally does not generate recurring revenue from marketed products. Its funding and cash inflows are typically derived from financing activities such as issuing equity ...
Tenax Therapeutics Financial Statement Overview
Summary
Income Statement
7
Very Negative
Balance Sheet
66
Positive
Cash Flow
12
Very 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 | -65.84M | -52.60M | -17.58M | -7.68M | -10.93M | -32.36M |
| Net Income | -64.86M | -52.60M | -17.60M | -7.71M | -11.05M | -32.47M |
Balance Sheet | ||||||
| Total Assets | 121.66M | 104.23M | 96.69M | 11.68M | 3.40M | 5.99M |
| Cash, Cash Equivalents and Short-Term Investments | 117.98M | 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 | 8.07M | 7.16M | 4.69M | 3.59M | 1.91M | 1.75M |
| Stockholders Equity | 113.59M | 97.07M | 91.99M | 8.10M | 1.49M | 4.24M |
Cash Flow | ||||||
| Free Cash Flow | -46.03M | -35.80M | -14.81M | -5.90M | -12.02M | -10.86M |
| Operating Cash Flow | -46.03M | -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 | 58.54M | 38.51M | 99.87M | 13.57M | 8.55M | 9.74M |
Tenax Therapeutics Technical Analysis
Negative
2.32
Price Trends
2.79
Negative
8.20
Negative
10.83
Negative
Market Momentum
-0.39
Negative
26.21
Positive
18.25
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TENX, the sentiment is Negative. The current price of 2.32 is above the 20-day moving average (MA) of 1.87, below the 50-day MA of 2.79, and below the 200-day MA of 10.83, indicating a bearish trend. The MACD of -0.39 indicates Negative momentum. The RSI at 26.21 is Positive, neither overbought nor oversold. The STOCH value of 18.25 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
60 Neutral | $403.43M | -2.39 | -64.25% | ― | ― | -29.71% | |
55 Neutral | $358.41M | -3.61 | -46.54% | 1.29% | -82.95% | -49.04% | |
52 Neutral | $358.24M | -4.78 | -61.84% | ― | 0.70% | 44.24% | |
52 Neutral | $223.70M | -3.34 | -68.44% | ― | 19.49% | -4.53% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
42 Neutral | $68.49M | -1.07 | -61.55% | ― | ― | -59.74% | |
42 Neutral | $101.93M | -0.74 | -87.05% | ― | ― | -29.66% |
* Healthcare Sector Average
TENX
Tenax Therapeutics
1.60
-5.91
-78.70%
ENTA
Enanta Pharmaceuticals
11.52
0.56
5.11%
ARCT
Arcturus Therapeutics
12.03
-9.22
-43.39%
PRQR
ProQR
1.48
-0.98
-39.84%
CRBP
Corbus Pharmaceuticals
4.78
-11.47
-70.58%
AVIR
Atea Pharmaceuticals
4.98
1.84
58.60%
Tenax Therapeutics Corporate Events
Business Operations and StrategyProduct-Related Announcements
Tenax pauses Phase 3 levosimendan trial to refine criteria
Negative
Oct 8, 2026
Tenax Therapeutics has temporarily paused enrollment in its global Phase 3 LEVEL-2 trial of oral levosimendan in PH-HFpEF as it moves to amend patient enrollment criteria, drawing on insights from its recently completed LEVEL trial, which did not ...
Business Operations and StrategyProduct-Related Announcements
Tenax Therapeutics Updates Phase 3 LEVEL Trial Strategy
Neutral
Sep 9, 2026
On September 9, 2026, Tenax Therapeutics presented updated Phase 3 LEVEL trial results for TNX-103 (levosimendan) in PH-HFpEF at the Cantor Global Healthcare Conference, following topline data released on August 10, 2026. While the trial’s p...
Business Operations and StrategyProduct-Related Announcements
Tenax Therapeutics Phase 3 LEVEL Trial Topline Results
Negative
Aug 10, 2026
On August 10, 2026, Tenax Therapeutics reported topline data from its Phase 3 LEVEL trial of TNX-103 in PH-HFpEF, showing the study failed to reach statistical significance on its primary endpoint of 6-minute walk distance and key secondary patien...
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.