Shareholder rights law firm Robbins LLP informs investors that a class action was filed on behalf of all persons and entities who purchased or otherwise acquired Tenax Therapeutics, Inc. (NASDAQ: TENX) securities between November 13, 2023 and August 7, 2026, inclusive (the “Class Period”). Tenax is a development-stage pharmaceutical company focused on novel cardiopulmonary therapies.

The complaint alleges that Tenax misled investors regarding the viability of its drug candidate levosimendan.

Investors who purchased Tenax Therapeutics, Inc. securities during the Class Period and suffered significant losses should contact Robbins LLP for information about the lawsuit and the December 28, 2026 lead plaintiff deadline.

Why Was Tenax Sued?

Tenax’s prioritized product candidate is levosimendan, which the Company evaluated through its Phase 3 LEVEL study of oral levosimendan, or TNX-103, in pulmonary hypertension in heart failure with preserved ejection fraction (“PH-HFpEF”).

According to the complaint, prior to the Class Period, Tenax conducted and completed its Phase 2 HELP study of levosimendan, touting results that showed a “significant improvement” in six-minute walk distance, the primary endpoint for the Phase 3 LEVEL study. At all relevant times, defendants represented that their approach to developing TNX-103 was “derisked” because levosimendan was already approved for treatment of conditions other than PH-HFpEF, defendants incorporated insights from relevant subject-matter experts, patients in the HELP study showed improvement in six-minute walk distance, and defendants modeled the LEVEL study based on assessing which patients in the HELP study responded to levosimendan.

The complaint further alleges that, during the Class Period, defendants failed to disclose that:

(i) TNX-103 was less effective than defendants had led investors to believe;

(ii) accordingly, TNX-103’s overall clinical, regulatory, and commercial prospects were overstated; and

(iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Why Did Tenax Stock Drop?

Plaintiff alleges that on August 10, 2026, Tenax issued a press release reporting topline results from its Phase 3 LEVEL clinical trial. This press release stated that TNX-103 “did not meet its primary endpoint of improvement in the 6-minute walk distance versus placebo, or the key secondary endpoint of improvement in Kansas City Cardiomyopathy Questionnaire total symptom score.” On this news, Tenax’s stock price fell approximately $12.06 per share, or 89.77%, to close at approximately $1.38 per share on August 10, 2026.

What Can Tenax Shareholders Do Now?

Investors who purchased or otherwise acquired Tenax Therapeutics, Inc. securities during the Class Period may be eligible to serve as lead plaintiff. The lead plaintiff is a court-appointed investor who represents the interests of all class members throughout the litigation. Stockholders who wish to seek appointment as lead plaintiff should contact Robbins LLP for information about the appointment process.

Shareholders do not need to serve as lead plaintiff to share in any potential recovery. Investors who do not seek appointment may remain absent class members.

Does It Cost Anything to Participate?

No. Robbins LLP represents investors on a contingency fee basis, with no upfront or out-of-pocket fees or expenses.

Contact Robbins LLP

Investors seeking additional information about the Tenax Therapeutics, Inc. securities class action may contact Robbins LLP by submitting an inquiry, emailing attorney Aaron Dumas, Jr., or calling (800) 350-6003.

Why Robbins LLP?

A recognized leader in shareholder rights litigation, Robbins LLP represents investors in securities fraud and shareholder derivative litigation. We have helped restore more than $2 billion in value to shareholders and secured some of the largest recoveries in shareholder derivative litigation history.

“Companies have an obligation to provide investors with complete and accurate information so that markets can function fairly and efficiently,” said Brian J. Robbins, Founding Partner of Robbins LLP.

To be notified if a class action against Tenax Therapeutics, Inc. settles, or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

Media gallery

About The Author
Business Wire