---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-25-002385"
form_type: "8-K"
ticker: "TENX"
cik: "0000034956"
company_name: "TENAX THERAPEUTICS, INC."
filed_at: "2025-03-06T23:59:59+00:00"
generated_at: "2026-05-25T07:57:05.543264+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Tenax raises $25M, expands Phase 3 LEVEL study to 230 patients, adds LEVEL-2 trial

## Summary
- Private placement with RTW Investments grossed ~$25M; issued 378K shares + pre-funded warrants for 3.76M shares at $6.04/$6.03.
- FDA accepted amendment to expand LEVEL study from 152 to 230 patients, increasing statistical power to >95%; enrollment expected by end of 2025.
- FDA agreed to initiate second global Phase 3 LEVEL-2 study; first patient expected in 2025; primary endpoint 6MWD at 26 weeks.
- Blinded LEVEL data shows >95% patients remain on therapy, no safety signals; topline data expected mid-2026.
- Proceeds extend cash runway through end of 2027, funding Phase 3 trials and operations.

## SEC filing metadata
- accession: 0001654954-25-002385
- form_type: 8-K
- ticker: TENX
- cik: 0000034956
- company_name: TENAX THERAPEUTICS, INC.
- filed_at: 2025-03-06T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/34956/000165495425002385/0001654954-25-002385-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/34956/000165495425002385/tenx_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-25-002385
- JSON: https://secwatch.observer/filing/0001654954-25-002385.json
- Plain text: https://secwatch.observer/filing/0001654954-25-002385.txt

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