TENAX THERAPEUTICS, INC. TENX
Tenax Therapeutics is a Phase 3, development-stage pharmaceutical company using clinical insights to develop novel cardiopulmonary therapies. We employ a clinician-driven drug development approach, led by key opinion leaders and heart failure experts and informed by their clinical insights to precisely target disease pathophysiology. We are currently actively conducting the LEVEL and LEVEL-2 clinical trials to evaluate levosimendan as our prioritized product candidate and have deprioritized a Phase 3 clinical trial of imatinib, two drugs supported by promising evidence that they may significantly improve the lives of patients with pulmonary hypertension. Importantly, both levosimendan and imatinib have already been approved in other indications and prescribed around the world for more than 20 years, and we believe their mechanisms of action are uniquely suitable to target and treat pulmonary hypertension. We believe this derisked approach of using already-approved drugs that provide well-established safety profiles from millions of patients, combined with a development path led by preeminent cardiovascular and pulmonary hypertension experts, puts us in a strong position to deliver breakthrough cardiopulmonary therapies designed to improve patients' functioning and quality of life.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | — | — | — | — | — | — | — | $0 |
| Cost of revenue | — | — | — | — | — | — | — | — | — | $0 |
| Gross profit | — | — | — | — | — | — | — | — | — | $0 |
| R&D | $32.7M | $12.7M | $3.2M | $5.4M | $25.1M | $4.6M | $3.5M | $1.2M | $3.5M | $13.1M |
| SG&A | $23.7M | $6.8M | $5.0M | $5.7M | $7.6M | $5.3M | $5.1M | $5.7M | $5.7M | $6.2M |
| Total operating expenses | $56.4M | $19.5M | $8.2M | $11.1M | $32.7M | $9.9M | $8.6M | $6.9M | $9.2M | $52.7M |
| Operating income | -$56.4M | -$19.5M | -$8.2M | $11.1M | -$32.7M | $9.9M | -$8.6M | -$6.9M | -$9.2M | -$52.7M |
| Interest expense | $0 | $23.0K | $24.0K | $4.4K | $949 | $1.6K | $0 | — | — | $0 |
| Pre-tax income | -$52.6M | -$17.6M | -$7.7M | $11.0M | -$32.5M | -$9.9M | -$8.4M | -$14.1M | -$8.8M | -$36.0M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8.0M |
| Net income | -$52.6M | -$17.6M | -$7.7M | $11.0M | -$32.5M | -$9.9M | -$8.4M | -$14.1M | -$8.8M | -$43.9M |
| EPS, basic | -1.34 | -1.15 | -31.04 | — | — | — | — | — | — | — |
| EPS, diluted | -1.34 | -1.15 | -31.04 | — | -1.58 | -0.95 | -1.35 | -9.04 | -6.27 | -31.24 |
| Shares, diluted (wtd. avg.) | 39.2M | 15.3M | 248,447 | — | — | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $97.6M | $94.9M | $9.8M | $2.1M | $5.6M | $6.3M | $4.9M | $12.4M | $1.6M | $10.0M |
| Short-term investments | — | — | — | — | $0 | $462.7K | $493.9K | $494.6K | $6.1M | $3.3M |
| Receivables | — | — | — | — | — | — | — | $0 | $50.2K | $72.6K |
| Total current assets | $104.2M | $96.7M | $11.7M | $3.2M | $5.7M | $6.8M | $6.2M | $13.3M | $8.1M | $13.6M |
| Property, plant and equipment | — | — | $0 | $7.2K | $7.1K | $6.0K | $6.6K | $8.5K | $9.9K | $19.1K |
| Goodwill | — | — | — | — | — | — | — | — | — | $0 |
| Other intangibles | — | — | — | — | — | — | — | — | — | $0 |
| Total assets | $104.2M | $96.7M | $11.7M | $3.4M | $6.0M | $6.9M | $6.4M | $13.3M | $9.9M | $23.3M |
| Accounts payable | $6.0M | $3.2M | $2.1M | $448.4K | $859.6K | $757.9K | $1.7M | $749.8K | $611.9K | $727.6K |
| Total current liabilities | $7.2M | $4.7M | $3.6M | $1.8M | $1.6M | $2.1M | $2.5M | $1.6M | $1.0M | $6.2M |
| Total liabilities | $7.2M | $4.7M | $3.6M | $1.9M | $1.7M | $2.2M | $2.6M | $1.6M | $1.0M | $6.2M |
| Retained earnings | -$367.5M | -$314.9M | -$297.3M | -$289.5M | -$278.5M | -$246.0M | -$236.2M | -$227.8M | -$213.5M | -$204.7M |
| Total equity | $97.1M | $92.0M | $8.1M | $1.5M | $4.2M | $4.6M | $3.8M | $11.8M | $8.9M | $17.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$35.8M | -$14.8M | -$5.9M | -$11.4M | -$10.9M | -$9.3M | -$7.6M | -$5.5M | -$12.1M | -$15.9M |
| Depreciation and amortisation | — | — | $7.6K | $5.1K | $4.1K | $4.1K | $5.0K | $9.0K | $13.6K | $19.0K |
| Stock-based compensation | $19.2M | $1.1M | $191.0K | — | — | — | $0 | $190.1K | $79.6K | $1.1K |
| Capital expenditure | — | — | — | $2.3K | $5.3K | $3.5K | $3.6K | $7.6K | $4.5K | $2.9K |
| Investing cash flow | — | $0 | $3.0K | -$2.3K | $452.6K | $20.1K | -$1.7K | $7.4M | $3.7M | $22.2M |
| Financing cash flow | $38.5M | $99.9M | $13.6M | $7.9M | $9.7M | $10.6M | $96.5K | $8.9M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-168580.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | — | — | — | — | — | — | — | $0 | $0 |
| Gross profit | $0 | — | — | — | — | — | — | — | — | — |
| Net income | -$43.9M | -$8.8M | -$14.1M | -$8.4M | -$9.9M | -$32.5M | $11.0M | -$7.7M | -$17.6M | -$52.6M |
Recent filings and events
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Other event Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Item 5.02
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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