Tenax Drug Trial Miss Spurs Securities Suit With December 28 Deadline

Investors who bought Tenax Therapeutics securities from Nov. 13, 2023, through Aug. 7, 2026, have until Dec. 28, 2026, to seek appointment as lead plaintiff in a securities class action. The complaint alleges Tenax overstated the effectiveness and clinical, regulatory and commercial prospects of its lead drug candidate, TNX-103; these are allegations, not established findings. The lawsuit followed Tenax’s Aug. 10 announcement that the drug missed the primary and key secondary endpoints in its Phase 3 LEVEL trial, after which the company’s shares fell about 89.8% to $1.38; analyst firms also sharply cut their price targets the next day.