0001193125-26-099393
SEC filingTenax 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.
Tenax Therapeutics, Inc. reported a net loss of $52.6 million for fiscal year 2025, compared to no prior year figure provided for comparison. The loss was primarily driven by total operating expenses of $56.4 million, consisting of $32.7 million in research and development and $23.7 million in general and administrative expenses. The company generated no revenue during the period, resulting in a net operating loss of $56.4 million. Interest income of $3.8 million partially offset the operating loss. The net loss per share was $1.00 for both basic and diluted calculations, based on weighted average shares outstanding of 39.2 million.
No revenue was reported for fiscal year 2025. The company's financial statements show no revenue figures in either the income statement or cash flow statement sections provided. The document does not disclose any segment breakdown, geographic mix, or revenue growth drivers for the period.
With no revenue generated during fiscal year 2025, gross margin and operating margin calculations are not applicable based on the provided data. The company's cost structure was dominated by research and development expenses of $32.7 million and general and administrative expenses of $23.7 million, totaling $56.4 million in operating expenses. Stock-based compensation represented a significant non-cash expense at $19.2 million. The net operating loss of $56.4 million reflects the company's pre-revenue stage of development.
Net cash used in operating activities was $35.8 million for fiscal year 2025, primarily driven by the net loss of $52.6 million, adjusted for $19.2 million in stock-based compensation and changes in working capital. Net cash provided by financing activities was $38.5 million, consisting of $23.2 million from issuance of common stock, warrants and pre-funded warrants (net of issuance costs) and $15.3 million from exercise of warrants. The net change in cash and cash equivalents was $2.7 million, with ending cash balance of $94.9 million. The balance sheet shows total assets of $104.2 million, including $97.6 million in cash and cash equivalents. Total liabilities were $7.2 million, consisting of $6.0 million in accounts payable and $1.1 million in accrued liabilities. Stockholders' equity was $97.1 million, with accumulated deficit of $367.5 million.
The provided document content does not include management guidance, strategic priorities, or specific risk factors for fiscal year 2026 or beyond. The financial data presented focuses exclusively on historical results for fiscal year 2025 without forward-looking statements or outlook commentary.