Tenax Therapeutics Q2 net loss $17.8M; cash $118M; Phase 3 LEVEL topline data expected Aug 2026

TENAX THERAPEUTICS, INC.

Net loss of $17.8M for Q2 2026, compared to $10.9M in Q2 2025.
Cash and cash equivalents of $118.0M as of June 30, 2026; cash runway extended through Q2 2028.
R&D expenses rose to $12.9M from $6.1M, driven by Phase 3 LEVEL and LEVEL-2 trials.
Proceeds of $13.4M from warrant exercises in Q2 2026.
Topline data from Phase 3 LEVEL trial expected in August 2026; LEVEL-2 enrollment targeted by end of 2027.

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