---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-26-002072"
form_type: "8-K"
ticker: "TENX"
cik: "0000034956"
company_name: "TENAX THERAPEUTICS, INC."
filed_at: "2026-03-10T23:59:59+00:00"
generated_at: "2026-05-15T17:14:21.195047+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Tenax Therapeutics reports Q4/FY2025 loss; LEVEL study fully enrolled, topline Q3 2026

## Summary
- Achieved 230-patient randomization target in Phase 3 LEVEL study; topline data expected Q3 2026.
- Cash and equivalents $97.6M as of Dec 31, 2025; expected to fund operations through 2027.
- Full-year 2025 net loss $52.6M vs $17.6M in 2024; R&D spend $32.7M on trial expansion.
- Initiated global Phase 3 LEVEL-2 trial and open-label extension for TNX-103 (levosimendan) in PH-HFpEF.
- USPTO issued Notice of Allowance for subcutaneous levosimendan formulation in broad indications.

## SEC filing metadata
- accession: 0001654954-26-002072
- form_type: 8-K
- ticker: TENX
- cik: 0000034956
- company_name: TENAX THERAPEUTICS, INC.
- filed_at: 2026-03-10T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/34956/000165495426002072/0001654954-26-002072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/34956/000165495426002072/tennx_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-26-002072
- JSON: https://secwatch.observer/filing/0001654954-26-002072.json
- Plain text: https://secwatch.observer/filing/0001654954-26-002072.txt

## Key facts
- Earnings Releases
  TENAX THERAPEUTICS, INC. reported year ended December 31, 2025 results: net income net loss of $52.6 million.
  - Period: year ended December 31, 2025
  - Net income: net loss of $52.6 million
  - Result: reported results
  source text: Tenax Therapeutics reported a net loss of $52.6 million for the year ended December 31, 2025, compared to a net loss of $17.6 million for the year ended December 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/34956/000165495426002072/0001654954-26-002072-index.htm
- Earnings Releases
  TENAX THERAPEUTICS, INC. reported fourth quarter ended December 31, 2025 results: net income net loss of $15.5 million.
  - Period: fourth quarter ended December 31, 2025
  - Net income: net loss of $15.5 million
  - Result: reported results
  source text: Tenax Therapeutics reported a net loss of $15.5 million for the fourth quarter of 2025, compared to a net loss of $6.3 million for the fourth quarter of 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/34956/000165495426002072/0001654954-26-002072-index.htm

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