Tenax Therapeutics, Inc. (TENX) stock

NASDAQ: TENX Nasdaq Pharmaceutical preparations Next results ~November 11, 2026

Tenax Therapeutics, Inc. is a US-listed company in the pharmaceutical preparations industry. Its financial year ends in December.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Insiders8 buying, 0 selling29 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
Funds83 adding, 27 cuttingOf 32 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Next results ~November 11, 2026 (estimated)

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 132.0% while net income fell 106.0%: a 26pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

Results due soon. Results are expected around 11 November; the share price can move sharply on the day.
Share dilution. Diluted shares rose 158.7% in a year.
Volatile shares. Over the past year the shares showed annualised volatility of 128% and a beta of 1.0 against the S&P 500.
Heavily shorted. 19.5% of the shares available to trade are sold short (2.7 days of average volume to cover).

Latest results: FY2026 Q2

Filed July 31, 2026

Earnings per share: -$0.35 against an average estimate of -$0.36: beat by 3.2%
Share reaction: -5.1% in the first session after the results on July 31, 2026, against +2.2% for the S&P 500

Tenax Therapeutics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

1 day+0.6%
1 week+9.8%
1 month-9.1%
This year-85.2%
1 year-75.5%
5 years-99.9%
S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM): $0
EPS (TTM, diluted): $-1.47

Earnings

Last results: July 31, 2026
Next results (est.): November 11, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

October 8, 2026Announcement

Tenax Therapeutics, Inc. disclosed a material event

SEC 8-KRead source ↗
September 9, 2026Announcement

Tenax Therapeutics, Inc. made a public disclosure

SEC 8-KRead source ↗
September 3, 2026Insider trade

Adar1 Capital Management, Llc (10% owner) bought $1.6M of stock

SEC Form 4
August 21, 2026Insider trade

Schneeberger Daniel (10% owner) bought $1.3M of stock

SEC Form 4
August 10, 2026Announcement

Tenax Therapeutics, Inc. disclosed a material event

SEC 8-KRead source ↗
July 31, 2026Results

Tenax Therapeutics, Inc. reported results

SEC 8-KRead source ↗

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Tenax Therapeutics, Inc. valuation models and calculator

No model value for Tenax Therapeutics, Inc. at the moment. Current status: limited reported history: available models are shown without a Buy/Hold/Sell rating. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Tenax Therapeutics, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.93 times a 4.5% equity risk premium.

Value per share by model
Model	Value per share	In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings.	—	Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years.	—	Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns.	—	Does not apply: return on equity is not positive
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable.	—	Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative.	—	Does not apply: no positive revenue in the latest twelve months
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out.	—	No model applies: the filings don’t yet support a value.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Tenax Therapeutics, Inc. with Health Care sector in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Tenax Therapeutics, Inc.: consensus estimates
Fiscal year	EPS	Growth	Revenue	Growth
Current	−$1.45	−8%	—	0%
Next	−$1.50	−3%	—	0%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.5% on 90 days ago. In the last 30 days, 4 analysts raised Tenax Therapeutics, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Tenax Therapeutics, Inc., last 90 days

Average of analysts' published estimates (third-party data).

View chart data

Period	Current fiscal year	Next fiscal year
90 days ago	−$1.43	−$1.39
60 days ago	−$1.43	−$1.46
30 days ago	−$1.45	−$1.50
7 days ago	−$1.45	−$1.50
Now	−$1.45	−$1.50

Earnings against estimates

Tenax Therapeutics, Inc.: reported EPS against the consensus estimate
Quarter to	Estimate	Actual	Surprise
Jun 2026	−$0.36	−$0.35	+3.2%
Mar 2026	−$0.40	−$0.35	+11.8%
Dec 2025	−$0.41	−$0.38	+8.4%
Sept 2025	−$1.12	−$0.40	+64.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

10 analysts, Oct 2026

Buy660%

Hold440%

Sell00%

Monthly trend

Oct 202615410
Sep 202615410
Aug 202615410
Jul 20261910

Counts of recommendations published by analysts covering Tenax Therapeutics, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest: 19.5%
Days to cover: 2.73
Short interest, 1 month: +31%
Held by institutions: —
Held by insiders: 0.2%
Employees: 14

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Return and risk by year

Tenax Therapeutics, Inc.: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year	2021	2022	2023	2024	2025	2026 to date
Return
TENX	−44%	−89%	−88%	−72%	+97%	−85%
Industry peers (median)	—	—	—	—	—	—
S&P 500	+29%	−18%	+26%	+25%	+18%	+11%
Months that ended higher
TENX	33%	17%	33%	42%	50%	46%
S&P 500	75%	42%	67%	75%	75%	46%
Largest fall from a high during the year
TENX	−64%	−93%	−95%	−87%	−34%	−93%
S&P 500	−5%	−25%	−10%	−8%	−19%	−9%

Worst fall since November 2, 2015: 100% from December 29, 2015 to October 16, 2026. Getting back needed a 7858724% gain, and the shares have not yet recovered.

Price behaviour

52-week range: $1.36 – $18.32
From 52-week high: −90.2%
vs 50-day average: −2.4%
vs 200-day average: −82.0%
Volatility (1 year): 128%
Beta vs S&P 500: 0.98

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day: 7 up, 5 down
After a week: 7 up, 5 down
After a month: 7 up, 5 down

Tenax Therapeutics, Inc.: share-price change after each results release
Results released	Next day	S&P 500 next day	5 days	21 days
July 31, 2026	−5.1%	+2.2%	−11.0%	−87.8%
May 12, 2026	−0.3%	+0.4%	−4.0%	−10.2%
March 10, 2026	+32.7%	−0.3%	+37.7%	+35.8%
November 12, 2025	−5.0%	−1.6%	+4.0%	+47.3%
August 13, 2025	+1.0%	+0.4%	+1.5%	+3.7%
May 14, 2025	+0.5%	+0.6%	+7.1%	+0.5%
March 25, 2025	−1.1%	−1.0%	+2.6%	−6.9%
November 13, 2024	+0.8%	−0.6%	−2.7%	+20.0%
August 13, 2024	+9.4%	+2.0%	+14.7%	+2.2%
May 14, 2024	+1.1%	+1.7%	+3.4%	−9.9%
March 28, 2024	−1.3%	−0.2%	−1.3%	−5.2%
May 19, 2016	+0.4%	+0.3%	−7.1%	+1.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-KT, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Tenax Therapeutics, Inc.: annual financial statements
Fiscal year	2011 Apr 2011	2012 Apr 2012	2013 Apr 2013	2014 Apr 2014	2015 Apr 2015	2016 Dec 2016	2024 Dec 2024	2025 Dec 2025	LTM Jun 2026
Income
Revenue	0	0	1	0	0	0	0	0	0
Gross profit	0	0	0	−0	0	0	—	—	—
EBITDA	11	−8	−5	−16	−15	−53	−19	—	—
Operating income	11	−8	−5	−17	−15	−53	−19	−56	−69
Net income	10	−16	−9	−20	−14	−44	−18	−53	−65
Diluted EPS	−$96000.00	−$150080.00	−$71253.33	−$28906.67	−$16000.00	−$49984.00	−$1.15	−$1.34	−$1.47
Growth (year on year)
Revenue	—	+252.6%	+227.4%	−86.7%	−69.0%	−100.0%	—	—	—
EBITDA	—	−173.7%	—	—	—	—	—	—	—
Operating income	—	−177.8%	—	—	—	—	—	—	—
Net income	—	−250.4%	—	—	—	—	—	—	—
Margins
Gross margin	100.0%	13.5%	4.2%	−65.5%	0.0%	—	—	—	—
EBITDA margin	>999%	<−999%	−423.2%	<−999%	<−999%	—	—	—	—
Operating margin	>999%	<−999%	−435.7%	<−999%	<−999%	—	—	—	—
Net margin	>999%	<−999%	−790.6%	<−999%	<−999%	—	—	—	—
Free-cash-flow margin	<−999%	<−999%	−414.7%	<−999%	<−999%	—	—	—	—
Cash flow
Cash from operations	−8	−8	−5	−9	−10	−16	−15	−36	−46
Capital spending	0	0	0	0	0	0	0	0	0
Free cash flow	−9	−8	−5	−9	−10	−16	−15	−36	−46
Stock-based pay	0	0	0	1	0	0	1	19	16
Free cash flow after stock pay	−9	−8	−5	−10	−10	−16	−16	−55	−62
Balance sheet
Cash	—	—	—	—	—	10	95	98	118
Total debt	5	1	5	0	—	0	0	0	0
Net debt (negative = net cash)	—	—	—	—	—	−10	−95	−98	−118
Diluted shares	109m	130m	165m	—	—	—	15m	39m	44m

US$ millions unless shown otherwise. Fiscal quarters; growth is against the same quarter a year earlier.

Tenax Therapeutics, Inc.: quarterly financial statements
Quarter	2014 Q3 Oct 2014	2015 Q1 Jan 2015	2025 Q1 Mar 2025	2025 Q2 Jun 2025	2025 Q3 Sept 2025	2025 Q4 Dec 2025	2026 Q1 Mar 2026	2026 Q2 Jun 2026
Income
Revenue	0	0	0	0	0	0	0	0
Gross profit	0	0	—	—	—	—	—	—
EBITDA	−4	—	—	—	—	—	—	—
Operating income	−4	—	−11	−12	−17	−16	−17	−19
Net income	−4	—	−10	−11	−16	−16	−16	−18
Diluted EPS	−$4480.00	—	−$0.28	−$0.27	−$0.40	−$0.38	−$0.35	−$0.35
Growth (year on year)
Revenue	−100.0%	−100.0%	—	—	—	—	—	—
Cash flow
Cash from operations	−3	—	−7	−6	−9	−13	−9	−14
Capital spending	0	0	0	0	0	0	0	0
Free cash flow	−3	—	−7	−6	−9	−13	−9	−14
Stock-based pay	0	—	4	5	6	5	3	3
Free cash flow after stock pay	−3	—	−11	−11	−15	−18	−12	−17

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Who owns it

Funds buying and selling

Reported value: $441M
Institutions reporting: 111
Shares held vs prior quarter: ▲ 39.9%
Positions opened / closed: 45 / 13

83 bought 27 sold

Top buyers and sellers, Q2 2026: 83 institutions bought and 27 sold ; the biggest buyer was FMR LLC (+3.6M shares) and the biggest seller Price T Rowe Associates Inc (−2.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager	Value	Shares	Share of 13F value	Shares QoQ
FMR LLC	$57.4M	3.9M	13.0%	▲ 1122.1%
Vivo Capital, LLC	$36.4M	2.5M	8.2%	▲ 1100.0%
Blackrock, Inc.	$25.1M	1.7M	5.7%	▲ 10078.4%
Perceptive Advisors LLC	$24.7M	1.7M	5.6%	▲ 17.4%
Vanguard Capital Management LLC	$16.7M	1.1M	3.8%	▲ 335.5%
Millennium Management LLC	$12.7M	876K	2.9%	▲ 64.1%
Ikarian Capital, LLC	$11.5M	788K	2.6%	▼ 22.6%
Candriam S.C.A.	$10.9M	750K	2.5%	New
Citadel Advisors LLC	$10.6M	729K	2.4%	▲ 377.7%
RTW Investments, LP	$10.1M	697K	2.3%	▲ 88.1%
Stonepine Capital Management, LLC	$9.6M	660K	2.2%	▼ 32.3%
Geode Capital Management, LLC	$9.3M	640K	2.1%	▲ 824.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Tenax Therapeutics, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart

Insider purchases History → $6.6M 29 trades by 8 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders

Net ▲ $6.6M net buying

Recent insider open-market transactions
Insider	Date	Trade	Shares	Price	Value
Adar1 Capital Management, Llc 10% owner	October 21, 2026	Buy	331,979	$1.66	$550,687
Adar1 Capital Management, Llc 10% owner	October 20, 2026	Buy	254,342	$1.60	$405,726
Adar1 Capital Management, Llc 10% owner	October 19, 2026	Buy	336,528	$1.51	$507,013
Doogan Declan Director	September 16, 2026	Buy	53,000	$1.92	$101,760
Giordano Christopher Thomas CEO	September 15, 2026	Buy	4,850	$1.82	$8,827
Staab Thomas R Ii Chief Financial Officer	September 11, 2026	Buy	5,675	$1.94	$11,010
Giordano Christopher Thomas CEO	September 11, 2026	Buy	6,000	$1.88	$11,280
Adar1 Capital Management, Llc 10% owner	September 3, 2026	Buy	900,000	$1.78	$1.6M
Schneeberger Daniel 10% owner	September 2, 2026	Buy	187,704	$1.80	$337,867
Schneeberger Daniel 10% owner	September 1, 2026	Buy	179,058	$1.80	$322,304
Schneeberger Daniel 10% owner	August 31, 2026	Buy	403,571	$1.79	$722,392
Schneeberger Daniel 10% owner	August 24, 2026	Buy	107,374	$1.75	$187,904

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 11, 2026 estimated from the company's past filing pattern, not announced

July 31, 2026
May 12, 2026
March 10, 2026
November 12, 2025
August 13, 2025
May 14, 2025

Recent SEC filings

8-K Current report October 8, 2026
8-K Current report September 9, 2026
8-K Current report August 10, 2026
10-Q Quarterly report July 31, 2026
8-K Current report July 31, 2026
8-K Current report July 2, 2026
8-K Current report June 30, 2026
8-K Current report June 29, 2026

Data status

When each part of this page on Tenax Therapeutics, Inc. was last updated.

Data	Last updated	Source
Share price	November 2, 2026	Exchange closing prices
Financial statements	July 31, 2026	SEC 10-K and 10-Q filings
News and updates	October 31, 2026, 7:55pm ET	Company releases and SEC 8-K filings
Analyst estimates	October 31, 2026, 9:50am ET	Aggregated analyst estimates
Valuation and scores	November 3, 2026, 9:36am ET	Our models, from the filed figures

How we build and check these figures: methodology and data sources.

Tenax Therapeutics, Inc. in brief

What does Tenax Therapeutics, Inc. do?: Tenax Therapeutics, Inc. is a US-listed company in the pharmaceutical preparations industry. Its financial year ends in December.
What is Tenax Therapeutics, Inc.'s stock ticker?: Tenax Therapeutics, Inc. trades under the ticker TENX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Tenax Therapeutics, Inc.'s largest institutional shareholders?: By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Vivo Capital, LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Tenax Therapeutics, Inc.'s market cap?: On November 2, 2026, Tenax Therapeutics, Inc.'s market capitalisation was about $79.6M and net debt of -$118M. Market figures come from third-party market data and may be delayed.
Are insiders buying or selling Tenax Therapeutics, Inc. stock?: Over the last 12 months, Tenax Therapeutics, Inc.'s directors and officers reported 29 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Tenax Therapeutics, Inc.'s next earnings date?: Around November 11, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Tenax Therapeutics, Inc. announces its own schedule.