Tenax Therapeutics shares fell approximately 84% to 85% after the Company disclosed that its Phase 3 LEVEL trial of TNX-103 missed both its primary and key secondary endpoints. Levi & Korsinsky is investigating potential securities law violations on behalf of TENX investors who suffered losses.

NEW YORK, Aug. 19, 2026 /PRNewswire/ — Tenax Therapeutics (NASDAQ: TENX) shares lost roughly 84% to 85% of their value after the Company announced that its Phase 3 LEVEL trial of TNX-103 failed its primary endpoint and its key secondary endpoint in patients with PH-HFpEF. If you suffered a loss on your Tenax Therapeutics investment, you are encouraged to click here to submit your information . You may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com  or by telephone at (212) 363-7500.

According to the Company’s announcement, TNX-103 produced a placebo-adjusted improvement in six-minute walk distance of 3.5 meters — a result that was not statistically significant — and essentially no difference from placebo on the Kansas City Cardiomyopathy Questionnaire symptom score. Topline LEVEL data had been guided to August 2026, after previously being guided to the third quarter of 2026.

Tenax is pre-revenue. TNX-103 (levosimendan) was the Company’s lead clinical program, and the LEVEL study was its pivotal Phase 3 trial in PH-HFpEF. Exploratory results reported alongside the topline data, including a 49% reduction in  NT-proBNP reduction and stronger effects among patients with greater disease burden, did not alter the outcome on the pivotal endpoints. The investigation concerns whether Tenax adequately disclosed the risks tied to that program before the LEVEL results were released.

Shareholders who lost money on TENX are encouraged to have their losses reviewed at no cost . You may also reach Joseph E. Levi, Esq. at (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP  — Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report.

Frequently Asked Questions About the TENX Investigation

Q: Who is conducting the TENX investigation?  A: Levi & Korsinsky, LLP is investigating potential securities fraud claims on behalf of investors who purchased TENX securities. The firm is nationally recognized, ranked in the ISS Top 50 for seven consecutive years, and has recovered hundreds of millions of dollars for aggrieved investors.

Q: How much did TENX stock drop?  A: Shares fell approximately 84% to 85% after the Company disclosed that the Phase 3 LEVEL trial of TNX-103 missed its primary and key secondary endpoints. Investors who purchased shares and suffered losses may be eligible to seek recovery.

Q: Who is eligible to participate in the TENX investigation?  A: Investors who purchased TENX stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses — not on whether you still hold the shares.

Q: What do TENX investors need to do right now?  A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery . No immediate action is required to remain eligible to participate in the investigation.

Q: What documents do I need to participate?  A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my TENX shares — can I still recover losses?  A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought TENX and sold at a loss may still participate in the investigation.

Q: What if my TENX losses are small — is it still worth contacting a lawyer?  A: Yes. There is no minimum loss amount required to participate in the investigation.

Q: What does it cost me to participate?  A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys’ fees and expenses subject to court approval.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com 
Tel: (212) 363-7500
Fax: (212) 363-7171

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