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Tenax Therapeutics
(NASDAQ:TENX)
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Rating:42Neutral
Price Target:
$2.00
▼(-13.79% Downside)
Action:Reiterated
Date:08/26/26
The score is dragged down primarily by weak financial performance (no revenue, widening losses, and accelerating cash burn) and very bearish technicals (price far below key moving averages with negative MACD). A low-debt balance sheet helps, but the Phase 3 primary endpoint miss adds material program risk, and valuation metrics offer limited support given negative earnings and no dividend.
Positive Factors
Minimal Financial Leverage
A debt-free balance sheet reduces refinancing risk and interest obligations, preserving flexibility while Tenax advances its clinical programs. However, this strength supports resilience rather than eliminating the need for future equity or partnership funding.
Negative Factors
Phase 3 Primary Endpoint Failure
Failure on the pivotal trial’s primary endpoint materially weakens the evidence supporting approval and commercial adoption. Tenax may need additional analyses, a redesigned registrational strategy, or further trials, extending development time and funding needs.
Read all positive and negative factors
Positive Factors
Negative Factors
Minimal Financial Leverage
A debt-free balance sheet reduces refinancing risk and interest obligations, preserving flexibility while Tenax advances its clinical programs. However, this strength supports resilience rather than eliminating the need for future equity or partnership funding.
Read all positive factors
Tenax Therapeutics (TENX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$86.82M
Dividend YieldN/A
Average Volume (3M)1.36M
Price to Earnings (P/E)―
Beta (1Y)0.55
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. Volume1,158,957
30 Day Avg. Volume1,364,040
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 Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$9.00Price Target Upside287.93% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)-1.46
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
11.29
Negative
11.97
Negative
12.06
Negative
Market Momentum
-3.17
Positive
23.89
Positive
73.93
Neutral
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 below the 20-day moving average (MA) of 6.01, below the 50-day MA of 11.29, and below the 200-day MA of 12.06, indicating a bearish trend. The MACD of -3.17 indicates Positive momentum. The RSI at 23.89 is Positive, neither overbought nor oversold. The STOCH value of 73.93 is Neutral, 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 | $435.51M | -2.65 | -64.25% | ― | ― | -29.71% | |
53 Neutral | $218.75M | -1.74 | -87.05% | ― | ― | -29.66% | |
52 Neutral | $410.09M | -5.87 | -61.84% | ― | 0.70% | 44.24% | |
52 Neutral | $438.85M | -4.75 | -46.54% | ― | -82.95% | -49.04% | |
52 Neutral | $328.65M | -5.09 | -68.44% | ― | 19.49% | -4.53% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
42 Neutral | $86.82M | -1.42 | -61.55% | ― | ― | -59.74% |
* Healthcare Sector Average
TENX
Tenax Therapeutics
2.19
-3.74
-63.07%
ENTA
Enanta Pharmaceuticals
13.80
5.11
58.80%
ARCT
Arcturus Therapeutics
16.17
-1.13
-6.53%
PRQR
ProQR
2.32
0.13
5.94%
CRBP
Corbus Pharmaceuticals
11.13
1.23
12.42%
AVIR
Atea Pharmaceuticals
5.45
1.98
57.06%
Tenax Therapeutics Corporate Events
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...
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...
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.