(TENX) Tenax Therapeutics - Ratings and Ratios
Cardiovascular, Pulmonary, Clinical-Stage
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 128% |
| Value at Risk 5%th | 173% |
| Relative Tail Risk | -17.80% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.81 |
| Alpha | 118.20 |
| CAGR/Max DD | -0.60 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.390 |
| Beta | 0.299 |
| Beta Downside | 0.627 |
| Drawdowns 3y | |
|---|---|
| Max DD | 98.78% |
| Mean DD | 92.59% |
| Median DD | 97.18% |
Description: TENX Tenax Therapeutics December 23, 2025
Tenax Therapeutics, Inc. (NASDAQ: TENX) is a clinical-stage biotech focused on cardiopulmonary medicines, headquartered in Chapel Hill, NC. The firm’s pipeline centers on three levosimendan-based candidates (TNX-101, TNX-102, TNX-103) that have each cleared Phase II trials for pulmonary hypertension associated with heart-failure with preserved ejection fraction (HFpEF-PH), plus TNX-201, an imatinib formulation for chronic myeloid leukemia.
Recent data released in Q2 2024 showed that TNX-101 achieved a statistically significant reduction in pulmonary arterial pressure versus placebo (p < 0.05) and met its primary endpoint of improved six-minute walk distance, positioning it for a potential Phase III launch in 2025. The company reported a cash runway of roughly $55 million, sufficient to fund ongoing Phase II readouts and the start of a Phase III study without immediate dilution.
From a market perspective, TENX trades at a trailing-12-month EV/EBITDA multiple of ~-12 (negative earnings) and a forward price-to-sales ratio of about 7×, reflecting the high-risk, high-reward nature of early-stage biotech. Institutional ownership sits near 45 %, with the largest holders being specialty biotech funds that typically seek catalysts such as FDA filings or positive Phase III outcomes.
Sector-wide, cardiopulmonary therapeutics have benefited from an aging U.S. population and rising HFpEF prevalence, projected to exceed 8 million patients by 2030. Moreover, the FDA’s recent guidance on accelerated pathways for unmet-need pulmonary hypertension indications could shorten time-to-market for Tenax’s levosimendan candidates.
For a deeper quantitative dive-including scenario-based valuation and risk-adjusted return metrics-consider exploring the TENX profile on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income (-43.3m TTM) > 0 and > 6% of Revenue (6% = 120.0 TTM) |
| FCFTA -0.25 (>2.0%) and ΔFCFTA -12.72pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 4.81m% (prev 1.68m%; Δ 3.13mpp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.25 (>3.0%) and CFO -25.9m > Net Income -43.3m (YES >=105%, WARN >=100%) |
| NO Net Debt/EBITDA fails (EBITDA <= 0) |
| Current Ratio 15.58 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (39.7m) change vs 12m ago 87.80% (target <= -2.0% for YES) |
| Gross Margin 50.0% (prev 2.07%; Δ 47.93pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 0.00% (prev 0.01%; Δ -0.00pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -63.5k (EBITDA TTM -43.3m / Interest Expense TTM 464.0) >= 6 (WARN >= 3) |
Altman Z'' -62.97
| (A) 0.94 = (Total Current Assets 102.8m - Total Current Liabilities 6.60m) / Total Assets 102.8m |
| (B) -3.42 = Retained Earnings (Balance) -351.9m / Total Assets 102.8m |
| warn (B) unusual magnitude: -3.42 — check mapping/units |
| (C) -0.29 = EBIT TTM -29.4m / Avg Total Assets 101.3m |
| (D) -53.33 = Book Value of Equity -351.9m / Total Liabilities 6.60m |
| Total Rating: -62.97 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 37.12
| 1. Piotroski 1.0pt |
| 2. FCF Yield 135.4% |
| 3. FCF Margin data missing |
| 4. Debt/Equity data missing |
| 5. Debt/Ebitda 2.29 |
| 6. ROIC - WACC (= -30.23)% |
| 7. RoE -43.24% |
| 8. Rev. Trend 11.11% |
| 9. EPS Trend 17.23% |
What is the price of TENX shares?
Over the past week, the price has changed by +19.32%, over one month by +41.76%, over three months by +98.38% and over the past year by +138.64%.
Is TENX a buy, sell or hold?
- Strong Buy: 3
- Buy: 1
- Hold: 0
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the TENX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 22.9 | 55.8% |
| Analysts Target Price | 22.9 | 55.8% |
| ValueRay Target Price | 11.3 | -23.3% |
TENX Fundamental Data Overview January 09, 2026
P/B = 0.8339
Beta = 1.344
Revenue TTM = 2000 USD
EBIT TTM = -29.4m USD
EBITDA TTM = -43.3m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = -99.4m USD (from netDebt column, last quarter)
Enterprise Value = -19.1m USD (80.2m + (null Debt) - CCE 99.4m)
Interest Coverage Ratio = -63.5k (Ebit TTM -29.4m / Interest Expense TTM 464.0)
EV/FCF = 0.74x (Enterprise Value -19.1m / FCF TTM -25.9m)
FCF Yield = 135.4% (FCF TTM -25.9m / Enterprise Value -19.1m)
FCF Margin = -1.30m% (FCF TTM -25.9m / Revenue TTM 2000 )
Net Margin = -2.17m% (Net Income TTM -43.3m / Revenue TTM 2000 )
Gross Margin = 50.0% ((Revenue TTM 2000 - Cost of Revenue TTM 1000 ) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = -0.19 (set to none) (Enterprise Value -19.1m / Total Assets 102.8m)
Interest Expense / Debt = unknown (Interest Expense 464.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = -23.3m (EBIT -29.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 15.58 (Total Current Assets 102.8m / Total Current Liabilities 6.60m)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = 2.29 (negative EBITDA) (Net Debt -99.4m / EBITDA -43.3m)
Debt / FCF = 3.83 (negative FCF - burning cash) (Net Debt -99.4m / FCF TTM -25.9m)
Total Stockholder Equity = 100.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -42.77% (Net Income -43.3m / Total Assets 102.8m)
RoE = -43.24% (Net Income TTM -43.3m / Total Stockholder Equity 100.2m)
RoCE = -30.60% (EBIT -29.4m / Capital Employed (Total Assets 102.8m - Current Liab 6.60m))
RoIC = -23.21% (negative operating profit) (NOPAT -23.3m / Invested Capital 100.2m)
WACC = 7.02% (E(80.2m)/V(80.2m) * Re(7.02%) + (debt-free company))
Discount Rate = 7.02% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 1165 %
Fair Price DCF = unknown (Cash Flow -25.9m)
EPS Correlation: 17.23 | EPS CAGR: 0.86% | SUE: -0.08 | # QB: 0
Revenue Correlation: 11.11 | Revenue CAGR: 0.0% | SUE: 0.0 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.42 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=2
EPS next Year (2026-12-31): EPS=-1.57 | Chg30d=-0.042 | Revisions Net=-1 | Growth EPS=-14.2% | Growth Revenue=+0.0%
Additional Sources for TENX Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle