Tenax Therapeutics reports FY2024 net loss of $17.6M; $94.9M cash; raised $125M for TNX-103 Phase 3 trials

TENAX THERAPEUTICS, INC.

Net loss for FY2024 was $17.6M vs $7.7M in 2023; Q4 net loss $6.3M vs $3.2M.
Cash and cash equivalents $94.9M as of Dec 31, 2024; plus $25M March 2025 private placement, funding through 2027.
Phase 3 LEVEL study enrollment expanded to 230 patients; topline data expected mid-2026.
Second Phase 3 study LEVEL-2 expected to initiate in 2025.
R&D expenses $12.7M in 2024 vs $3.2M in 2023, driven by Phase 3 LEVEL study.

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