---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-25-009510"
form_type: "8-K"
ticker: "TENX"
cik: "0000034956"
company_name: "TENAX THERAPEUTICS, INC."
filed_at: "2025-08-13T23:59:59+00:00"
generated_at: "2026-05-17T14:04:10.810528+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Tenax Therapeutics reports Q2 net loss of $10.9M; Phase 3 LEVEL study enrollment on track for H1 2026

## Summary
- Net loss of $10.9M in Q2 2025 vs $3.6M in Q2 2024; R&D spend $6.1M, G&A $5.7M.
- Cash and equivalents of $105.5M as of June 30, 2025, expected to fund operations through 2027.
- Phase 3 LEVEL study (TNX-103) enrollment target of 230 patients; completion expected H1 2026, topline data H2 2026.
- On track to initiate second Phase 3 study, LEVEL-2, in 2025 with over 85 sites in 15 countries qualified.
- Canadian patent allowed for TNX-103/102/101 and metabolites in PH-HFpEF, extending protection to 2040.

## SEC filing metadata
- accession: 0001654954-25-009510
- form_type: 8-K
- ticker: TENX
- cik: 0000034956
- company_name: TENAX THERAPEUTICS, INC.
- filed_at: 2025-08-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/34956/000165495425009510/0001654954-25-009510-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/34956/000165495425009510/tennx_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-25-009510
- JSON: https://secwatch.observer/filing/0001654954-25-009510.json
- Plain text: https://secwatch.observer/filing/0001654954-25-009510.txt

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