TENX
Tenax Therapeutics, Inc.
NasdaqCMUSDEQUITY
Healthcare
DELAYED
Sell
-39/100
Last price
1.91
▼ 0.05 (2.48%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
1.92
Prev close
1.96
Day high
2.00
Day low
1.90
Volume
1.18M
Market cap
$72.23M
P/E (TTM)
—
52W range
1.31 – 19.40
Day trading desk
Gap from prior close
-1.99%
Prior close 1.96
VWAP
1.93
-1.19% from price
Relative volume
0.20×
Quiet session
Session range
5.00%
1.90 – 2.00
Position in range
12%
Near session low
ATR (14D)
0.10
5.06% of price
Prior day high
1.99
PDH
Prior day low
1.88
PDL
Bid / ask spread
—
Quote not published
Session volume
1.09M
Avg 5.45M
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
+4.89%
+2.9%
1M
-0.52%
-1.7%
3M
-89.11%
-93.6%
6M
-86.77%
-105.0%
YTD
-84.17%
-98.4%
1Y
-74.27%
-90.7%
3Y
-91.93%
-174.2%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on TENX open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
103.11K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 16, 26 | DOOGAN DECLAN Director |
BUY | 53.00K | $101.76K | Direct |
| Sep 15, 26 | GIORDANO CHRISTOPHER THOMAS Chief Executive Officer |
BUY | 10.85K | $20.09K | Direct |
| Sep 11, 26 | STAAB THOMAS R II Chief Financial Officer |
BUY | 5.67K | $10.98K | Direct |
| Sep 3, 26 | ADAR1 CAPITAL MANAGEMENT LLC Beneficial Owner of more than 10% of a Class of Security |
BUY | 900.00K | $1.60M | Indirect |
| Sep 2, 26 | ADAR1 CAPITAL MANAGEMENT LLC Beneficial Owner of more than 10% of a Class of Security |
BUY | 770.33K | $1.38M | Indirect |
| Aug 24, 26 | ADAR1 CAPITAL MANAGEMENT LLC Beneficial Owner of more than 10% of a Class of Security |
BUY | 1.03M | $1.81M | Indirect |
| Jul 13, 26 | GIORDANO CHRISTOPHER THOMAS Chief Executive Officer |
CONVERSION | 8.72K | $51.27K | Direct |
| May 11, 26 | STAAB THOMAS R II Chief Financial Officer |
STOCK | 10.00K | $0 | Direct |
| Jan 30, 26 | MCGAULEY THOMAS A Chief Financial Officer |
CONVERSION | 50.00K | $625.50K | Direct |
| Dec 9, 25 | RICH STUART Officer and Director |
BUY | 5.00K | $50.79K | |
| Dec 4, 25 | RICH STUART Officer and Director |
BUY | 5.00K | $45.62K | |
| Nov 20, 25 | GIORDANO CHRISTOPHER THOMAS Chief Executive Officer |
BUY | 2.60K | $20.00K | Direct |
| Nov 18, 25 | ALMENOFF JUNE SHERIE Director |
BUY | 1.99K | $14.95K | Direct |
| Nov 18, 25 | ALMENOFF JUNE SHERIE Director |
BUY | 1.99K | $14.95K | Indirect |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ADAR1 CAPITAL MANAGEMENT LLC |
Beneficial Owner of more than 10% of a Class of Security | — | Purchase |
ALMENOFF JUNE SHERIE |
Director | 1.99K | Purchase |
DOOGAN DECLAN |
Director | 55.27K | Purchase |
GIORDANO CHRISTOPHER THOMAS |
Chief Executive Officer | 22.17K | Purchase |
MCGAULEY THOMAS A |
Chief Financial Officer | 8.00K | Conversion of Exercise of derivative security |
RICH STUART |
Officer and Director | — | Purchase |
STAAB THOMAS R II |
Chief Financial Officer | 15.68K | Purchase |
Fundamentals
Market cap$72.23M
Enterprise value$-7.42M
Revenue (TTM)—
Gross profit—
EBITDA—
Net income$-64.86M
EPS (TTM)$-1.45
Free cash flow$-24.05M
Total cash$117.98M
Total debt$0
Book value / share$2.19
Shares outstanding37.42M
Float30.78M
Short % of float14.83%
Dividend yield0.00%
Beta (5Y)0.92
Valuation & profitability ratios
Trailing P/E—
Forward P/E-1.29
PEG ratio1.44
Price / sales—
Price / book0.88
EV / revenue—
EV / EBITDA—
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity-59.80%
Return on assets-37.70%
Debt / equity—
Current ratio15.07
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | — |
| Operating revenue | $0 | $0 | $0 | $0 | — |
| Research & development | $32.67M | $12.71M | $3.23M | $5.38M | +157.1% |
| Selling, general & admin | $23.71M | $6.79M | $5.00M | $5.68M | +249.5% |
| Total operating expense | $56.38M | $19.49M | $8.23M | $11.05M | +189.2% |
| Operating income | -$56.38M | -$19.49M | -$8.23M | -$11.05M | -189.2% |
| Net interest income | $3.82M | $1.89M | $460.00K | -$4.44K | +102.0% |
| Pre-tax income | -$52.60M | -$17.60M | -$7.71M | -$11.05M | -198.8% |
| Net income | -$52.60M | -$17.60M | -$7.71M | -$11.05M | -198.8% |
| Net income to common | -$52.60M | -$17.60M | -$7.71M | -$11.05M | -198.8% |
| Basic EPS | -1.34 | -1.15 | -31.04 | -600.71 | -16.5% |
| Diluted EPS | -1.34 | -1.15 | -31.04 | -600.71 | -16.5% |
| EBIT | -$52.60M | -$17.58M | -$7.69M | -$11.04M | -199.2% |
| EBITDA | -$52.60M | -$17.58M | -$7.68M | -$10.93M | -199.2% |
| Basic shares | 39.22M | 15.27M | 248.45K | 18.39K | +156.8% |
| Diluted shares | 39.22M | 15.27M | 248.45K | 18.39K | +156.8% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $97.56M | $94.85M | $9.79M | $2.12M | — | +2.9% |
| Cash & short-term investments | — | — | $9.79M | — | — | — |
| Total current assets | $104.23M | $96.69M | $11.68M | $3.21M | — | +7.8% |
| Property, plant & equipment | — | — | $0 | $186.69K | $294.80K | — |
| Total assets | $104.23M | $96.69M | $11.69M | $3.40M | — | +7.8% |
| Total current liabilities | $7.16M | $4.69M | $3.59M | $1.85M | — | +52.5% |
| Current debt | — | — | $501.00K | $624.30K | — | — |
| Total debt | — | — | $501.00K | $807.89K | $290.78K | — |
| Total liabilities | $7.16M | $4.69M | $3.59M | $1.91M | — | +52.5% |
| Retained earnings | -$367.45M | -$314.86M | -$297.25M | -$289.54M | — | -16.7% |
| Shareholder equity | $97.07M | $91.99M | $8.10M | $1.49M | — | +5.5% |
| Working capital | $97.07M | $91.99M | $8.10M | $1.36M | — | +5.5% |
| Net tangible assets | $97.07M | $91.99M | $8.10M | $1.49M | — | +5.5% |
| Shares issued | 9.31M | 3.42M | 298.28K | 28.65K | — | +172.3% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$52.60M | -$17.60M | -$7.71M | -$11.05M | — | -198.8% |
| Depreciation & amortisation | — | $0 | $8.00K | $113.33K | $108.98K | — |
| Stock-based compensation | $19.16M | $1.13M | $191.00K | — | — | +1,603.4% |
| Change in working capital | -$2.36M | $1.64M | $1.58M | -$820.86K | — | -243.9% |
| Operating cash flow | -$35.80M | -$14.81M | -$5.90M | -$11.39M | — | -141.7% |
| Capital expenditure | — | — | — | -$2.32K | -$5.25K | — |
| Investing cash flow | — | $0 | $3.00K | -$2.32K | $452.61K | — |
| Financing cash flow | $38.51M | $99.87M | $13.57M | $7.93M | — | -61.4% |
| Free cash flow | -$35.80M | -$14.81M | -$5.90M | -$11.39M | — | -141.7% |
| End cash position | $97.56M | $94.85M | $9.79M | $2.12M | — | +2.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Operating revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Research & development | $12.85M | $11.54M | $10.54M | $10.33M | $6.12M | — | +11.4% |
| Selling, general & admin | $5.93M | $5.03M | $5.91M | $6.48M | $5.67M | — | +17.9% |
| Total operating expense | $18.78M | $16.57M | $16.45M | $16.81M | $11.79M | — | +13.3% |
| Operating income | -$18.78M | -$16.57M | -$16.45M | -$16.81M | -$11.79M | — | -13.3% |
| Net interest income | $981.00K | $861.00K | $918.00K | $1.02M | $954.00K | — | +13.9% |
| Pre-tax income | -$17.80M | -$15.72M | -$15.54M | -$15.80M | -$10.85M | — | -13.3% |
| Net income | -$17.80M | -$15.72M | -$15.54M | -$15.80M | -$10.85M | — | -13.3% |
| Net income to common | -$17.80M | -$15.72M | -$15.54M | -$15.80M | -$10.85M | — | -13.3% |
| Basic EPS | -0.35 | -0.35 | — | -0.40 | -0.27 | -0.28 | 0.0% |
| Diluted EPS | -0.35 | -0.35 | — | -0.40 | -0.27 | -0.28 | 0.0% |
| EBIT | -$18.78M | -$16.57M | -$15.54M | -$15.80M | -$11.79M | — | -13.3% |
| EBITDA | -$18.78M | -$16.57M | -$15.54M | -$15.80M | -$11.79M | — | -13.3% |
| Basic shares | 50.87M | 45.23M | — | 39.74M | 39.57M | 36.58M | +12.5% |
| Diluted shares | 50.87M | 45.23M | — | 39.74M | 39.57M | 36.58M | +12.5% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $117.98M | $118.75M | $97.56M | $99.37M | $105.46M | -0.7% |
| Cash & short-term investments | $117.98M | $118.75M | $97.56M | $99.37M | $105.46M | -0.7% |
| Total current assets | $121.66M | $123.18M | $104.23M | $102.81M | $105.86M | -1.2% |
| Total assets | $121.66M | $123.18M | $104.23M | $102.81M | $105.86M | -1.2% |
| Total current liabilities | $8.07M | $8.49M | $7.16M | $6.60M | $2.53M | -4.9% |
| Total liabilities | $8.07M | $8.49M | $7.16M | $6.60M | $2.53M | -4.9% |
| Retained earnings | -$400.97M | -$383.17M | -$367.45M | -$351.91M | -$336.11M | -4.6% |
| Shareholder equity | $113.59M | $114.69M | $97.07M | $96.21M | $103.33M | -1.0% |
| Working capital | $113.59M | $114.69M | $97.07M | $96.21M | $103.33M | -1.0% |
| Net tangible assets | $113.59M | $114.69M | $97.07M | $96.21M | $103.33M | -1.0% |
| Shares issued | 26.53M | 24.28M | 9.31M | 5.91M | 4.15M | +9.3% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | -$17.80M | -$15.72M | -$15.54M | -$15.80M | -$10.85M | — | -13.3% |
| Stock-based compensation | $3.33M | $2.84M | $4.79M | $5.62M | $4.61M | — | +17.3% |
| Change in working capital | $323.00K | $3.57M | -$2.67M | $1.03M | -$25.00K | — | -90.9% |
| Operating cash flow | -$14.15M | -$9.31M | -$13.41M | -$9.15M | -$6.26M | — | -52.0% |
| Investing cash flow | — | — | — | $0 | $0 | $0 | — |
| Financing cash flow | $13.37M | $30.50M | $11.61M | $3.06M | $278.00K | — | -56.2% |
| Free cash flow | -$14.15M | -$9.31M | -$13.41M | -$9.15M | -$6.26M | — | -52.0% |
| End cash position | $117.98M | $118.75M | $97.56M | $99.37M | $105.46M | — | -0.7% |
Options analytics
Put / call volume
0.42
Call-heavy session
Put / call open interest
—
Positioning, not flow
Max pain
1.00
-48.2% from spot
ATM implied vol
12.5%
Nearest strike to spot
Skew (10% OTM)
+37.5%
Puts bid over calls
Call volume
2.27K
Contracts, this expiry
Put volume
944
Contracts, this expiry
Heaviest call OI
1.50
0 contracts
Heaviest put OI
1.00
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.36 | -0.35 | +3.2% |
| Mar 2026 | -0.40 | -0.35 | +11.8% |
| Dec 2025 | -0.42 | -0.38 | +8.4% |
| Sep 2025 | -1.12 | -0.40 | +64.4% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.36 | 7 | $0 | 0.0% |
| Next quarter | -0.38 | 7 | $0 | 0.0% |
| Current year | -1.45 | 9 | $0 | 0.0% |
| Next year | -1.50 | 7 | $0 | 0.0% |
Analyst targets & ownership
Mean target$12.56
High target$36.00
Low target$4.00
Implied upside556.91%
Analyst count9
ConsensusNONE
Strong buy / Buy1 / 5
Hold4
Sell / Strong sell0 / 0
Held by insiders0.18%
Held by institutions108.50%
Institutions holding153
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
1.90
+0.70% from price
SMA 20
1.90
+1.55% from price
SMA 50
4.09
-52.78% from price
SMA 100
8.70
-78.03% from price
SMA 200
11.09
-82.60% from price
EMA 12
1.92
-0.68% from price
EMA 26
2.44
-21.54% from price
EMA 50
4.27
-55.20% from price
RSI (14)
32.6
Neutral
MACD (12,26,9)
-0.51
Hist 0.23
ATR (14)
0.10
5.01% of price
Realised vol 30D
98.6%
Annualised
Bollinger upper
2.04
20, 2σ
Bollinger lower
1.76
20, 2σ
50 / 200 cross
Death
4.09 vs 11.09
Trend bias
Below 200
-82.60%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.83
Less volatile than market
Correlation to SPY
0.09
Largely independent
Realised vol 30D
98.6%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-92.5%
Peak to trough
Max drawdown 5Y
-100.0%
Peak to trough
ATR 14
0.10
5.01% of price
Beta (reported)
0.92
5Y monthly, from filing
Short interest
Shares short
5.50M
Prior 5.47M
Change vs prior
+0.5%
Shorts adding
% of float
14.83%
Elevated
% of shares out
14.71%
Against total outstanding
Days to cover
0.8
Liquid
Float
30.78M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 31, 26 | Guggenheim | DOWNGRADE | Buy | Neutral |
| Aug 11, 26 | Chardan Capital | DOWNGRADE | Buy | Neutral |
| Aug 11, 26 | Canaccord Genuity | MAINTAINED | Buy | Buy |
| Aug 11, 26 | Guggenheim | MAINTAINED | Buy | Buy |
| Aug 11, 26 | Evercore ISI Group | DOWNGRADE | Outperform | In-Line |
| Aug 10, 26 | William Blair | DOWNGRADE | Outperform | Market Perform |
| Jul 31, 26 | Chardan Capital | MAINTAINED | Buy | Buy |
| Jul 29, 26 | Cantor Fitzgerald | MAINTAINED | Overweight | Overweight |
| Jul 28, 26 | Canaccord Genuity | INITIATED | — | Buy |
| Jul 22, 26 | Evercore ISI Group | INITIATED | — | Outperform |
| Jul 2, 26 | Chardan Capital | MAINTAINED | Buy | Buy |
| Jun 24, 26 | Cantor Fitzgerald | MAINTAINED | Overweight | Overweight |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio—
Ex-dividend date—
Next pay dateFeb 26, 2018
Last split1:80
Split dateJan 3, 2024
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-09-09
Corporate Changes & Voting Matters
8-K · 2026-08-10
Periodic Financial Reports
10-Q · 2026-07-31
Corporate Changes & Voting Matters
8-K · 2026-07-02
Corporate Changes & Voting Matters
8-K · 2026-06-30
Corporate Changes & Voting Matters
8-K · 2026-06-29
Corporate Changes & Voting Matters
8-K · 2026-06-04
Periodic Financial Reports
10-Q · 2026-05-12
Headlines
Tenax (TENX) Found a 26.3-Meter Benefit in a Prespecified Subgroup After LEVEL Missed Its Primary Endpoint. Is Another Phase 3 Trial Viable?
Insider Monkey · 32d ago
Tenax Therapeutics to Participate in the 2026 Cantor Global Healthcare Conference
GlobeNewswire · 36d ago
Deere upgraded, Lumentum initiated: Wall Street's top analyst calls
The Fly · 37d ago
Guggenheim Downgrades Tenax Therapeutics to Neutral From Buy
MT Newswires · 37d ago
Tenax Therapeutics Announces Presentation of Phase 3 LEVEL Results in Late-Breaking Scientific Sessions at ESC Congress 2026
GlobeNewswire · 39d ago
Chardan Downgrades Tenax Therapeutics to Neutral From Buy, Adjusts Price Target to $5 From $27
MT Newswires · 57d ago
Evercore ISI Downgrades Tenax Therapeutics to In Line From Outperform, Adjusts PT to $5 From $39
MT Newswires · 57d ago
Tenax Therapeutics’ stock crashes on Phase III trial failure
Clinical Trials Arena · 57d ago
PRIVATE STRATEGY · BY QUALIFICATION
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