Tenax Therapeutics closes $100M private placement to fund Phase 3 levosimendan program

TENAX THERAPEUTICS, INC.

Gross proceeds of ~$100M from oversubscribed private placement led by BVF Partners.
Issued 1,450,661 common shares at $3.00, plus pre-funded warrants for 31,882,671 shares and warrants for 16,666,666 shares.
Funds will complete ongoing LEVEL Phase 3 study and initiate a second Phase 3 study in 2025, shortening NDA timeline.
Oral levosimendan (TNX-103) targets PH-HFpEF, a disease with no approved therapies; earlier HELP study showed 29-meter 6MWD improvement.
Leerink Partners, Guggenheim Securities, and William Blair acted as placement agents; ROTH Capital advised Tenax.

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