Class action lawsuit filed against Tenax Therapeutics following clinical trial results
Investors who held Tenax Therapeutics securities between November 2023 and August 2026 have until December 28, 2026, to apply for lead plaintiff status in a securities fraud lawsuit.
Law firm Robbins Geller Rudman & Dowd LLP is organizing a class action lawsuit against Tenax Therapeutics, Inc., on behalf of investors who purchased securities between November 13, 2023, and August 7, 2026. The lawsuit, filed in the U.S. District Court for the Middle District of North Carolina, alleges violations of the Securities Exchange Act of 1934.
The complaint alleges that the company and certain executives provided misleading information regarding the clinical efficacy of TNX-103, a cardiopulmonary therapy candidate. Plaintiffs claim the company overstated the regulatory and commercial prospects of the drug throughout the period in question.
Concerns intensified on August 10, 2026, when Tenax Therapeutics disclosed that the Phase 3 LEVEL trial for TNX-103 failed to meet its primary and secondary endpoints. Following the announcement, the company’s stock price declined by approximately 90%. Investors seeking to act as lead plaintiff in the case, Katz v. Tenax Therapeutics, Inc., must file their applications by the December 28, 2026, deadline.