Tenax Therapeutics Q2 net loss widens on higher R&D costs
Tenax Therapeutics Q2 net loss widens on higher R&D costs
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
Outlook
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
Result Drivers
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
Company press release: ID:nGNX3P1Qk8
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Loss |
| $17.80 mln |
|
Q2 Operating Expenses |
| $18.78 mln |
|
Q2 Operating Income |
| -$18.78 mln |
|
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
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)