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Tenax Therapeutics (TENX) investor relations material
Tenax Therapeutics Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed randomization of over 230 patients in the Phase 3 LEVEL study, with topline data expected in Q3 2026.
LEVEL-2 global Phase 3 trial enrollment ongoing, completion anticipated by end of 2027.
Strengthened leadership with new CFO, CCO, and EVP of Clinical Development and Strategy appointments.
Financial highlights
Cash and cash equivalents totaled $118.8 million as of March 31, 2026, expected to fund operations through at least Q1 2028.
R&D expenses rose to $11.5 million, up from $5.7 million year-over-year, driven by increased clinical development costs.
G&A expenses decreased to $5.0 million from $5.7 million year-over-year, mainly due to lower stock-based compensation.
Net loss widened to $15.7 million from $10.4 million year-over-year.
Outlook and guidance
Topline data from the LEVEL Phase 3 study expected in Q3 2026.
LEVEL-2 trial enrollment to complete by end of 2027.
Cash runway projected through at least Q1 2028.
- Director elections and auditor ratification headline the June 2026 annual meeting agenda.TENX
Proxy filing22 Apr 2026 - Annual meeting to elect directors, ratify auditor, and review governance and compensation.TENX
Proxy filing22 Apr 2026 - Seeks to raise up to $300 million for late-stage cardiopulmonary drug development via shelf registration.TENX
Registration filing24 Mar 2026 - LEVEL trial enrollment finished early; global expansion and Q3 results expected.TENX
Leerink Global Healthcare Conference 202610 Mar 2026 - Levosimendan targets a major unmet need in PH-HFPEF, advancing in late-stage trials.TENX
Corporate presentation10 Mar 2026 - LEVEL and LEVEL-2 trials advanced, net loss widened, cash reserves support operations through 2027.TENX
Q4 202510 Mar 2026 - Levosimendan's Phase III program advances with strong clinical data and broad market potential.TENX
Guggenheim Securities Emerging Outlook: Biotech Summit 202611 Feb 2026 - Phase 3 trials for oral levosimendan in PH-HFpEF expand, with strong funding and patent protection.TENX
Leerinkās Global Healthcare Conference 202526 Dec 2025 - Phase III oral therapy for PH-HFpEF shows promise, with strong clinical and market potential.TENX
24th Annual Needham Virtual Healthcare Conference23 Dec 2025
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Next Tenax Therapeutics earnings date
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