---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-25-012921"
form_type: "8-K"
ticker: "TENX"
cik: "0000034956"
company_name: "TENAX THERAPEUTICS, INC."
filed_at: "2025-11-12T23:59:59+00:00"
generated_at: "2026-05-16T21:53:24.105078+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Tenax Therapeutics Q3 net loss $15.8M; Phase 3 LEVEL enrollment on track

## Summary
- Net loss of $15.8M for Q3 2025 vs $4.0M in Q3 2024; R&D expenses $10.3M (up from $3.1M).
- Cash and cash equivalents $99.4M as of Sept 30, 2025; expected to fund operations through 2027.
- Phase 3 LEVEL study (TNX-103) targeting 230 patients; enrollment completion expected H1 2026, topline data H2 2026.
- On track to initiate second Phase 3 study LEVEL-2 in 2025; 160+ global sites qualified.
- European Patent Office intends to grant patent for levosimendan in PH-HFpEF, extending IP to Dec 2040.

## SEC filing metadata
- accession: 0001654954-25-012921
- form_type: 8-K
- ticker: TENX
- cik: 0000034956
- company_name: TENAX THERAPEUTICS, INC.
- filed_at: 2025-11-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/34956/000165495425012921/0001654954-25-012921-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/34956/000165495425012921/tennx_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-25-012921
- JSON: https://secwatch.observer/filing/0001654954-25-012921.json
- Plain text: https://secwatch.observer/filing/0001654954-25-012921.txt

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