---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-044375"
form_type: "8-K"
ticker: "TENX"
cik: "0000034956"
company_name: "TENAX THERAPEUTICS, INC."
filed_at: "2025-03-25T23:59:59+00:00"
generated_at: "2026-05-24T06:12:11.102701+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-044375
- form_type: 8-K
- ticker: TENX
- cik: 0000034956
- company_name: TENAX THERAPEUTICS, INC.
- filed_at: 2025-03-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/34956/000095017025044375/0000950170-25-044375-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/34956/000095017025044375/form-8-k-ye-2024v2.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-044375
- JSON: https://secwatch.observer/filing/0000950170-25-044375.json
- Plain text: https://secwatch.observer/filing/0000950170-25-044375.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.