Tenax Therapeutics, Inc.

Tenax Therapeutics, Inc. reported a net loss of $52.6 million for fiscal year 2025, driven by total operating expenses of $56.4 million, which consisted of $32.7 million in research and development and $23.7 million in general and administrative expenses. The company generated no revenue, resulting in a net operating loss of $56.4 million, partially offset by $3.8 million in interest income. The net loss per share was $1.00 for both basic and diluted calculations. The company's cash position improved, with cash and cash equivalents ending the year at $94.9 million, up from the beginning balance, supported by $38.5 million in net cash provided by financing activities, primarily from equity issuances and warrant exercises. The balance sheet shows total assets of $104.2 million, total liabilities of $7.2 million, and stockholders' equity of $97.1 million, with an accumulated deficit of $367.5 million.

Key Takeaways