Tenax expects topline data from Phase 3 LEVEL trial in August 2026
Company anticipates completing LEVEL-2 trial enrollment by end of 2027
Tenax expects to fund operations through Q2 2028
Overview
U.S. cardiopulmonary drug developer's Q2 net loss widened yr/yr on higher R&D spending
Cash runway extended through Q2 2028 after $13.4 mln in warrant exercises
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Tenax Therapeutics Inc is $35.00, about 131.8% above its July 30 closing price of $15.10
Result Drivers and Key Details
R&D spending - Higher clinical and preclinical development costs for Phase 3 LEVEL and LEVEL-2 trials drove increased expenses
Administrative costs - SG&A expenses rose due to higher legal, professional, and personnel costs
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