Pomerantz Law Firm Announces the Filing of a Class Action Against Tenax Therapeutics, Inc. and Certain Officers – TENX

NEW YORK, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Tenax Therapeutics, Inc. ("Tenax" or the "Company") (NASDAQ: TENX) and certain officers.   The class action, filed in the United States District Court for the Middle District of North Carolina, and docketed under 26-cv-01624, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Tenax securities between November 13, 2023 and August 7, 2026, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

If you are an investor who purchased or otherwise acquired Tenax securities during the Class Period, you have until December 28, 2026, to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.  To discuss this action, contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. 

[Click here for information about joining the class action]

Tenax is a Phase 3, development-stage pharmaceutical company that develops novel cardiopulmonary therapies. Tenax’s prioritized product candidate is levosimendan, which the Company evaluated through, inter alia, its Phase 3 LEVEL study of oral levosimendan, or TNX-103, in pulmonary hypertension in heart failure with preserved ejection fraction (“PH-HRpEF”).

Before 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, inter alia, levosimendan was already approved for treatment of conditions other than PHRpEF, 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 alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or 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.

The truth began to emerge on August 10, 2026, when 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.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980