Tenax soars after FDA clears heart failure drug for late-stage trial

Tenax Therapeutics

13/11/2023 18:07

(Updates)
    ** Shares of Tenax Therapeutics  TENX.O  more than quadruple
to an eight-month high of $0.62; stock set for its best day ever
if gains hold 
    ** Co says its drug for a type of heart failure has been
cleared by the FDA for late-stage trial
    ** TENX says it will start a late-study on the drug in Q4
    ** Drug being tested in some heart failure patients with
increased blood pressure in the lungs' vessels 
    ** No FDA-approved treatments for the disease, which co
estimates affects more than 2 mln patients in North America by
2030 
    ** Over 58.3 mln shares traded, more than 10x their 25-day
moving average
    ** Including session's gain, stock down ~72% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))