TENAX THERAPEUTICS INC (TENX)
Health Care · Biotechnology · NASDAQ
Tenax Therapeutics is a clinical-stage biotechnology company developing specialized therapies for pulmonary hypertension and other cardiopulmonary conditions.
What TENAX THERAPEUTICS INC does
Tenax Therapeutics is a Phase 3, development-stage pharmaceutical company focused on the development of novel cardiopulmonary therapies. Its primary pipeline includes the investigation of levosimendan for pulmonary hypertension and the long-term development of imatinib for pulmonary arterial hypertension (PAH). The company operates as a research-driven firm currently in the clinical development phase.
Themes: cardiopulmonary therapeutics, pulmonary hypertension, clinical-stage drug development
Fundamentals
- Price$1.63 as of 2026-10-20 close
- Market cap$61M as of 2026-07-28 (share count; price 2026-10-20)
- 1-year return-75.7% 2025-10-20 close $6.70 → 2026-10-20 close $1.63
- P/En/a negative earnings
- ROE-54.2% FY2025, SEC XBRL
- ROICn/a No figure: its 10-K tags no pre-tax income, so no tax rate can be taken.
- Debt / equityn/a No figure: its filing tags none of the debt lines we read, which is not evidence of zero debt.
- Beta0.46 as of 2026-09-02
- Last reported earnings2026-07-31 SEC EDGAR Form 8-K (Item 2.02)
How TENX compares in its sector
- return on equitymiddle range 510 covered Health Care peers, as of 2026-09-02
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Quarterly results
| Quarter | Revenue | Operating income | Net income | Diluted EPS | Operating cash flow |
|---|---|---|---|---|---|
| Q2 FY2026 2026-06-30 | — | -$19M | -$18M | -$0.35 | -$14M† |
| Q1 FY2026 2026-03-31 | $0 | -$17M | -$16M | -$0.35 | -$9M |
| Q4 FY2025 2025-12-31 | — | -$16M† | -$16M† | -$0.38† | -$13M† |
| Q3 FY2025 2025-09-30 | — | -$17M | -$16M | -$0.40 | -$9M† |
| Q2 FY2025 2025-06-30 | — | -$12M | -$11M | -$0.27 | -$6M† |
| Q1 FY2025 2025-03-31 | $0 | -$11M | -$10M | -$0.28 | -$7M |
| Q4 FY2024 2024-12-31 | — | -$7M† | -$6M† | $0.22† | -$4M† |
| Q3 FY2024 2024-09-30 | — | -$5M | -$4M | -$0.19 | -$3M† |
† Not filed as a discrete quarter: derived from the company's own year-to-date figures (for example the fourth quarter as the fiscal year minus the first nine months). A derived per-share figure is approximate, because the share count moves within the year.
Balance sheet at 2026-06-30
- Cash and equivalents$118M
- Total debtnot shown the filing tags none of the debt lines we read — not evidence of zero debt
From the company's own SEC 10-Q and 10-K filings (XBRL), re-read every week. Figures in US dollars as filed; informational only — not financial advice.
How TENAX THERAPEUTICS INC looks technically
TENAX THERAPEUTICS INC (TENX) is trading 84.5% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 44 trading days ago — a "death cross", a bearish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 41, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 35, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 3 trading days ago. It is 91.6% below its highest point of the past year. Trading volume is unusually light — only about 47% of its 30-day average.
Trend
8
| Distance from the 200-day | it is trading 84.5% below its 200-day average, the long-term trend line — a long-term downtrend | -84.5% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $1.84 | $1.84 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $10.55 | $10.55 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing high 56 calendar days ago — the swings before that are what the structure reading is measured on | 56 sessions |
| Wave structure | its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 5 of five; the labelling fails if price closes above 2.43. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible downward five-wave sequence, in wave 5 (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 44 trading days ago — a "death cross", a bearish long-term signal | 44 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 41, with sellers in control | 41.4 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 35, neither overbought (above 70) nor oversold (below 30) | 35.3 |
|---|---|---|
| Position in its 14-day range | it is trading in the lower half of its 14-day range ($1.36 to $2.00) — its "stochastic" reading is 42 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 42.2 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in positive territory (momentum leaning bullish) | 38 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $19.40 | $19.40 |
|---|---|---|
| From the 52-week high | it is 91.6% below its 52-week high (its highest price of the past year) | -91.6% |
| Above the 52-week low | it is 24.4% above its 52-week low (its lowest price of the past year) | +24.4% |
| Below the 52-week high | it is 91.6% below its highest point of the past year | 91.6% |
| Since a 20-day breakout | it made a new 20-day low about 3 trading days ago | 3 sessions |
| Since a 55-day breakout | it made a new 55-day low about 3 trading days ago | 3 sessions |
| All-time high | its highest closing price on record is $21600000.00 (set on 2000-03-02) | $21600000.00 |
| Given back of the 52-week move | over the past year its closes ranged ($1.36 to $18.32), and it has recovered essentially none of its fall from last year’s high — 2% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $11.84 to $12.38. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 1.6% |
| From the all-time high | it is 100.0% below its all-time high | -100.0% |
| Nearest price level | it is trading 184.8% below a resistance level at $4.64 — a price it turned at twice since 2024-11-21, most recently on 2025-04-22. Since 2024-10-21 it has 0 such levels below the current price and 14 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +184.8% |
| All-time low | its lowest closing price on record is $1.31 (set on 2026-08-10) | $1.31 |
| Above the all-time low | it is 24.4% above its all-time low | +24.4% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are wider than usual versus its own recent 6-month history (wider than about 71% of it) | 71st percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.1705 between its high and its low — about 10.5% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.1705 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $1.42 and $2.14 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $1.42 – $1.78 – $2.14 |
| Typical daily range (% of price) | its price moves about 10.5% in a typical session — among the most volatile in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 10.5% |
| Stretch from the 200-day average | it is trading 52.3 daily ranges below its 200-day average price (84.5% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 52.3 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is unusually light — only about 47% of its 30-day average | 0.47× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
2
| Since a doji | 7 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 7 sessions ago |
|---|---|---|
| Since a bearish engulfing | 6 sessions ago it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it | 6 sessions ago |
Price gaps
3
| Gap at the open | it opened on 2026-10-20 1.3% below the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | -1.3% |
|---|---|---|
| Open gap | it gapped 3.7% above the previous close 1 session ago and has not traded back through the level it left behind at 1.36 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +3.7% |
| Gap filled | a 3.2% gap up opened on 2026-09-18 has been "filled" 22 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 22 sessions ago |
Price streaks
1
| Closing streak | it has closed higher 2 sessions in a row, a +19.85% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session | 2 sessions up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 15.2 percentage points (the stock lost 14.2% while the market gained 1.0%) | -15.2% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 93.2 percentage points (the stock lost 89.6% while the market gained 3.6%) | -93.2% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 97.0 percentage points (the stock lost 88.4% while the market gained 8.5%) | -97.0% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 90.2 percentage points (the stock lost 75.7% while the market gained 14.6%) | -90.2% |
Signal agreement
2
| Bullish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bullish state: MACD momentum is positive — these describe past price behaviour, not a forecast | 1 of 9 |
|---|---|---|
| Bearish technical signals | 6 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, a fresh 20-day low, a strong downtrend, with sellers in control, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 6 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 67% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-14 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thick, spanning 335.4% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | -66.7% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 66% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $4.76 — a volume-weighted average of daily closes over 200 sessions, not a true tick-by-tick VWAP. | -65.7% |
|---|---|---|
| Vs the average paid since it last reported | the price is 24% below the average price paid since it last reported on 2026-07-31 (its 10-Q), so the typical buyer over that stretch is under water. That average is $2.14 — a volume-weighted average of daily closes over 57 sessions, not a true tick-by-tick VWAP. | -23.9% |
Price levels it has turned at before
TENX last closed at $1.63 on 2026-10-20. Since 2024-10-21 it has turned at 0 prices below its last close and 14 above; the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $4.64 | Resistance | 184.8% above the last close | turned there twice · 2024-11-21 to 2025-04-22 |
| $5.36 | Resistance | 228.5% above the last close | turned there three times · 2024-12-20 to 2025-06-20 |
| $5.56 | Resistance | 241.3% above the last close | turned there three times · 2024-12-10 to 2025-06-04 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now in leg 5 of five.
This labelling fails — stops being a possible reading at all — if it closes above $2.43.
It is the only labelling that fits these swings, though its proportions are not the textbook ones. It was chosen from 2 labellings that survived the rules, counting shorter readings of the same bars.
This reading has stood for 35 trading days, since 2026-09-01.
Read from daily closes as of 2026-10-20.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Trading below the 50-day moving average · Pulled back from the 12-month high · Broke down to a new 20-day low · lagging the market · Most volatile (6%+ typical daily range) | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low · volume and relative volume
Based on daily closing prices as of 2026-10-20. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (1.90 mean, 1=Strong Buy…5=Strong Sell) — 9 analysts
- Mean price target$12.56 range $4.00 – $36.00; median $5.00
Analyst estimates, as of 2026-10-20. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for TENX
- Consensus EPS estimate-$0.36 next reporting period, as of 2026-10-20
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["History of recurring losses and significant accumulated deficit.","Dependence on the success of clinical trials and regulatory approval for its pipeline candidates.","Need for significant additional capital to fund ongoing research and development."]
What changed in the latest 10-Q
AI-assisted comparison of TENX's 10-Q filed 2026-05-12 against the prior one filed 2025-11-12.
Management's Discussion & Analysis (MD&A)
- Added:
- Newer filing (2026-05-12) states company is 'Phase 3, development-stage' vs. older filing (2025-11-12) stating 'clinical-stage'
- Newer filing mentions LEVEL-2 trial 'commenced in December 2025'
- Newer filing states 'We achieved our target enrollment of 230 patients in March of 2026'
- Newer filing provides cash runway statement: 'sufficient to fund our planned operations through at least the first quarter of 2028'
- Newer filing references 'cash received from warrant exercises subsequent to quarter end'
- Newer filing includes financial data for three months ended March 31, 2026 vs. 2025 comparison
- Newer filing (2026-05-12) references 'Annual Report on Form 10-K for the year ended December 31, 2025' vs. older filing (2025-11-12) referencing 'year ended December 31, 2024'
- Removed:
- Older filing (2025-11-12) stated 'We expect to enroll 230 patients in the first half of 2026' - replaced with achievement statement in newer filing
- Older filing stated 'We remain on track to commence LEVEL-2 this year' - removed as LEVEL-2 already commenced by newer filing date
- Older filing statement 'Given our resources on September 30, 2025, we believe we can continue our operations through 2027' - replaced with newer runway statement in 2026 filing
- Older filing provided financial overview for 'Three and Nine Months Ended September 30, 2025' - newer filing provides 'Three Months Ended March 31, 2026'
- Reworded:
- Overview: 'clinical-stage' (older, 2025-11-12) changed to 'Phase 3, development-stage' (newer, 2026-05-12)
- Overview: 'advised by thought leaders who are pulmonary hypertension and heart failure experts' (older) changed to 'led by key opinion leaders and heart failure experts' (newer)
- Overview: 'development path led by preeminent cardiology and pulmonary hypertension experts' (older) changed to 'development path led by preeminent cardiovascular and pulmonary hypertension experts' (newer)
- Overview: 'improve patients' function and quality of life' (older) changed to 'improve patients' functioning and quality of life' (newer)
- Recent Events: Older filing states intent to use proceeds 'to advance...by completing...and initiating' vs. newer filing stating 'to advance...Specifically, we plan to complete...We also plan to advance'
- Recent Events: Older reference to 'pulmonary hypertension resulting from heart failure with preserved ejection fraction (PH-HFpEF)' vs. newer reference to 'PH-HFpEF'
- Recent Events: Older statement about proceeds from 'August 2024' raising removed; newer filing adds 'approximately $100.0 million raised in August 2024'
- Research and Development section: Newer filing explains stock-based compensation decrease as due to 'stock options granted in December 2024...became fully vested in December 2025, partially offset by new option grants made in 2026'
- Notes:
- The two filings compare different fiscal periods: newer filing (Q1 2026 ended March 31, 2026) vs. older filing (Q3 2025 ended September 30, 2025), making direct financial comparisons subject to seasonality and timing differences
- The newer filing text appears truncated at the end of the R&D expenses section ('Other costs decreased for the three months ended March 31, 2026')
- The older filing provided both three-month and nine-month comparisons; the newer filing only provides three-month data in the excerpt provided
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
11 open-market purchases and 0 open-market sales by insiders in the last 90 days, of which we have read Form 4 filings through 2026-10-17. The 4 days since 2026-10-17 have not been checked yet.
- Last 90 days · read to 2026-10-1711 buys ($5M) · 0 sells — 4 buying insiders
- Last 180 days · read to 2026-10-1711 buys ($5M) · 0 sells — 4 buying insiders
Cluster buying: 4 different insiders reported open-market purchases (SEC code P) of TENX within a 30-day window between 2026-08-20 and 2026-09-16. Disclosed Form 4 activity, not a prediction of performance or a buy signal.
Activity heuristic: net buying (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-09-16. Based on Form 4 filings read through 2026-10-17; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about TENX's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding TENX as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 8,136,097
- Reported value $118,380,212
reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 5 increased, 0 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about TENX's institutional holders → See what each manager we track holds →
Short interest (FINRA)
TENX had 7,182,126 shares of reported short interest as of the 2026-09-30 FINRA settlement date (delayed, bi-monthly; not real-time).
TENX had 19.2% of its shares outstanding sold short as of the 2026-09-30 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 2.35 days to cover at the same settlement.
- Reported short interest (shares) 7,182,126
- Short interest (% of shares outstanding) 19.2%
- Prior settlement (shares) 5,503,842
- Reported change 30.49%
- Days to cover (reported) 2.35
Reported to FINRA as of the 2026-09-30 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- United Therapeutics (UTHR)
- Bayer (BAYRY)
- Janssen Pharmaceuticals (JNJ)
- Acceleron Pharma (MRK)
- Liquidia (LQDA)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare TENX vs…
Frequently asked questions
What does TENAX THERAPEUTICS INC (TENX) do?
Tenax Therapeutics is a Phase 3, development-stage pharmaceutical company focused on the development of novel cardiopulmonary therapies. Its primary pipeline includes the investigation of levosimendan for pulmonary hypertension and the long-term development of imatinib for pulmonary arterial hypertension (PAH). The company operates as a research-driven firm currently in the clinical development phase.
What sector is TENAX THERAPEUTICS INC (TENX) in?
TENAX THERAPEUTICS INC (TENX) is classified in the Health Care sector. Its industry is Biotechnology. It trades on NASDAQ.
Who are TENAX THERAPEUTICS INC's (TENX) competitors?
Notable peers of TENAX THERAPEUTICS INC (TENX) include United Therapeutics, Bayer, Janssen Pharmaceuticals, Acceleron Pharma and Liquidia. This peer set is informational only — not financial advice.
Is TENAX THERAPEUTICS INC (TENX) overbought or oversold right now?
TENAX THERAPEUTICS INC (TENX) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 35, in the neutral middle (as of 2026-10-20). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on TENX come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest; prices are market data, as of 2026-09-02; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-02 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-20.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.