Tenax Therapeutics reports Q3 EPS (19c) , consensus ($1.39)

Cash, cash equivalents and investments totaled $98.3 million on September 30, 2024, compared to $9.8 million on December 31, 2023. Based upon the Company’s current operating plan, Tenax believes that its existing cash, cash equivalents and investments provide a cash runway through the end of 2027. “The third quarter showcased strong execution across our company,” said Chris Giordano, President and Chief Executive Officer of Tenax Therapeutics (TENX). “We expanded our pivotal Phase 3 LEVEL study by initiating more investigative sites and we are pleased with the steady pace of patient enrollment. To further drive our progress, we are investing in key talent and operational resources dedicated to advancing the levosimendan Phase 3 program. Our goal is to make levosimendan the first approved treatment for the millions of individuals affected with PH-HFpEF, a population in critical need of therapeutic options.”