August 2024 Warrants ( private placement)
Issued 2024
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
TENX$1.83+1.67%
Tenax Therapeutics, Inc.
Sector: Pharmaceutical PreparationsIndustry: BiotechnologyCountry: USExchange: Nasdaq
Mkt Cap:$68.49M
Float & O/S:
Inst Own:
DilutionScan read 32 of TENAX THERAPEUTICS, INC.'s SEC filings and found 6 warrant series, 1 convertible and 3 shelf registrations on file for TENX. The latest dilution event on file is a registration statement on Apr 1, 2026. Analysis updated Oct 7, 2026.
Signal8 Summary
TENX
Phase 3 failure with cash runway
Snapshot
Tenax Therapeutics is a development-stage biotech with no revenue and a significant cash burn. The company reported a FY 2025 net loss of $52.6M but holds $118M in cash following warrant exercises, extending its operational runway into the second quarter of 2028.
What's Happening Right Now
- : Tenax announced that its Phase 3 LEVEL trial of TNX-103 failed to meet its primary endpoint and a key secondary endpoint, though exploratory analyses showed some positive biomarker trends.
- : Tenax reported $118M in cash with a runway extending into Q2 2028, bolstered by warrant proceeds, while R&D expenses increased to $12.9M for the quarter.
- : Tenax signed a supply agreement with Orion Corporation to manufacture orally administered levosimendan, extending the regulatory approval deadline to 2035.
Raise routes on file: effective shelf · latest dilution event 216 days ago
Overall Risk
Offering Ability
Overhead Supply
Historical
Cash Need
AI dilution summary
The dominant contractual driver and its mechanism, then each further driver ranked.
Latest dilution event
Apr 1, 2026 · Registration
Every warrant, convertible, ATM and shelf, cited to the filing
A free account reads 3 tickers a day in full
$59/mo with 7 days free, or $49/mo billed yearly ($588/yr)
Share count and cash history
Shares outstanding, potential dilution and cash over time
Expired
Warrant
Issued 2024
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
February 2024 Warrants ( registered public offering)
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Warrant
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Pre-funded warrants (August 2024 and March aggregate)
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Warrant
Shares Underlying
Exercise Price
Outstanding
- Type
- Anti-Dilution
- Cashless Exercise
- Expiration
Series A Convertible Preferred Stock
Principal
Conversion Price
Remaining principal
- Shares on conversion
- Interest rate
- Maturity
S-3 shelf registration
Issued 2026
Total capacity
Remaining
- Filed
- Effective
- Expires
- Baby shelf
S-3 shelf registration
Issued 2025
Total capacity
Remaining
- Filed
- Effective
- Expires
- Baby shelf
S-3 shelf registration
Issued 2024
Total capacity
Remaining
- Filed
- Effective
- Expires
- Baby shelf
Know who's about to sell into your TENX trade
Exercise prices, conversion terms, shelf headroom and the filing sentence behind every number.
$59/mo with 7 days free, or $49/mo billed yearly ($588/yr)
