Lead plaintiff deadline set for Tenax Therapeutics class action
Investors who purchased Tenax Therapeutics stock between November 2023 and August 2026 have until December 28, 2026, to seek lead plaintiff status in a pending securities lawsuit.
Law firm Levi & Korsinsky, LLP has notified shareholders of a pending securities class action against Tenax Therapeutics, Inc. regarding claims of misleading disclosures during the period from November 13, 2023, to August 7, 2026. The lawsuit centers on the company’s promotion of its clinical candidate TNX-103, which ultimately failed to meet its primary clinical endpoints.
According to the complaint, Tenax allegedly overstated the efficacy and commercial prospects of TNX-103 while securing approximately $134 million in capital through three separate financing rounds. Following the disclosure that the Phase 3 LEVEL study failed, the company’s share price declined by nearly 90% in a single session.
The lawsuit, filed in the U.S. District Court for the Middle District of North Carolina, alleges that statements made by the company regarding the clinical and regulatory progress of its product were not supported by the subsequent trial data. Investors seeking to serve as lead plaintiff must file their applications by December 28, 2026.