Tenax Therapeutics Stock Jumps On Strategic Alternative Review

Tenax Therapeutics Inc TENX is evaluating alternative strategic paths. Roth Capital Partners will support Tenax Therapeutics as its financial advisor in this process.
Tenax Therapeutics and its Board of Directors believe the company's current valuation does not accurately reflect the potential value of its clinical-stage pipeline.
Tenax Therapeutics is developing two Phase 3 ready assets - TNX-201 (modified release imatinib) for pulmonary arterial hypertension (PAH) and TNX-103 (oral levosimendan) for Pulmonary Hypertension with Heart Failure with Preserved Ejection Fraction (PH-HFpEF).
There is no set timetable for the strategic review process, and Tenax Therapeutics does not intend to provide updates unless or until the Board approves a specific action or determines that disclosure is appropriate or necessary, the company said.
To optimize its financial resources through this strategic review process, the company is shifting the anticipated launch of the imatinib Phase 3 trial in PAH, previously anticipated to begin in 2H 2022, into 2023.
Price Action: TENX shares are up 15.5% at $0.27 during the premarket session on the last check Thursday.