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Tenax Therapeutics, Inc.

TENX Nasdaq Pharmaceutical Preparations Financials FY2016–FY2025

Tenax Therapeutics, Inc. had $0.0M of revenue in fiscal 2025.

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Last close Β· Oct 23, 2026

$1.72

2.3%

What Tenax Therapeutics, Inc. does

TENX Β· Pharmaceutical Preparations

From its latest annual report

No business description yet.

Filing details

Legal name
TENAX THERAPEUTICS, INC.
Fiscal year ends
December 31, 2025
Latest annual report
10-K Β· Mar 10, 2026
Accession Β· CIK
0001193125-26-099393 Β· 0000034956

Earnings calendar Β· Tenax Therapeutics, Inc.

Every quarter, companies publish how much they sold and earned. These are the days Tenax Therapeutics, Inc. did it, and the next one. Share prices often move a lot on those days.

Next results

November 11, 2026

Wednesday Β· in 16 days

Time
Time not announced
Covers
Period ended Sep 30, 2026
Expected EPS
βˆ’$0.35
Source
Earnings calendar
See who else reports that week β†’
Date Results for Time Source
Jul 31, 2026 Q2 '26 Before the market opens 8-K β†—
May 12, 2026 Q1 '26 Before the market opens 8-K β†—
Mar 10, 2026 Q4 '25 Before the market opens 8-K β†—
Nov 12, 2025 Q3 '25 After the market closes 8-K β†—
Aug 13, 2025 Q2 '25 After the market closes 8-K β†—
May 14, 2025 Q1 '25 After the market closes 8-K β†—
Mar 25, 2025 Q4 '24 After the market closes 8-K β†—
Nov 13, 2024 Q3 '24 Before the market opens 8-K β†—

From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.

KIRA’s summary AI analyst

Hi! I read Tenax Therapeutics, Inc.’s latest annual report (fiscal 2025). Here is what stands out:

2 to watch

Tenax Therapeutics, Inc. in 30 seconds

Good So-so Weak

Weak

Does it make a profit?

βˆ’$52.6M

No. It lost money last year.

Weak

How healthy are the accounts?

1 / 7

Weak. It passes 1 of 7 health tests.

For information

How is the share priced?

β€”

No P/E: it made no profit over the last four quarters.

Rules of thumb on reported numbers. A starting point, not a recommendation.

Key numbers, fiscal 2025

Market cap Last close times the latest diluted share count, so it is approximate.
$87.5M
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
β€”
On βˆ’$1.49 EPS (TTM)

Revenue

Total sales reported in the income statement.

KIRA Β· Tenax Therapeutics, Inc. had $0.0M of revenue in fiscal 2025.

See the full section β†’

Operating margin

Operating income as a share of revenue.

See the full section β†’

Net income

Profit after all expenses, interest and tax.

KIRA Β· Tenax Therapeutics, Inc. lost $52.6M in fiscal 2025.

See the full section β†’

Free cash flow

Cash from operations minus capital spending.

See the full section β†’

Return on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

See the full section β†’
Charts by

Sales and profit

Is it selling more, and how much does it keep?

Revenue and margins

KIRA Β· Tenax Therapeutics, Inc. had $0.0M of revenue in fiscal 2025.

In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).

Revenue

Revenue

Margins, % of revenue

Gross Operating Net FCF

Net income and earnings per share

KIRA Β· Tenax Therapeutics, Inc. lost $52.6M in fiscal 2025.

Loss periods are shown in red.

In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.

Net income

Net income

Diluted EPS

Diluted EPS

Cash and shareholders

How much cash comes in, and where does it go?

Cash flow

Cash from operations minus capital spending.

In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.

Free cash flow

Cash from operations vs capital spending

Cash from operations Capital spending

Cash from operations vs capital spending

Cash from operations Capital spending

Dividends, buybacks and share count

In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).

Dividends and buybacks

Dividends Buybacks

Diluted shares outstanding (annual)

Insider trades

KIRA Β· In the last 12 months, insiders bought $6.6M of shares on the open market and sold none.

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. β€œPlan” marks trades under a pre-arranged Rule 10b5-1 plan.

In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.

Bought, 12 months

$6.6M

8 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

β€”

$0.0M

DateInsiderTradeSharesPriceValueFiling
Oct 21, 2026 ADAR1 Capital Management, LLC10% owner Bought 331,979 $1.66 $0.6M Form 4
Oct 20, 2026 ADAR1 Capital Management, LLC10% owner Bought 254,342 $1.60 $0.4M Form 4
Oct 19, 2026 ADAR1 Capital Management, LLC10% owner Bought 336,528 $1.51 $0.5M Form 4
Sep 16, 2026 Declan DooganDirector Bought 53,000 $1.92 $0.1M Form 4
Sep 15, 2026 Christopher Thomas GiordanoCEO, Director Bought 4,850 $1.82 $0.0M Form 4
Sep 11, 2026 Thomas R Staab IIChief Financial Officer Bought 5,675 $1.94 $0.0M Form 4
Sep 11, 2026 Christopher Thomas GiordanoCEO, Director Bought 6,000 $1.88 $0.0M Form 4
Sep 3, 2026 ADAR1 Capital Management, LLC10% owner Bought 900,000 $1.78 $1.6M Form 4
Sep 2, 2026 Daniel Schneeberger10% owner Bought 187,704 $1.80 $0.3M Form 4
Sep 1, 2026 Daniel Schneeberger10% owner Bought 179,058 $1.80 $0.3M Form 4
Aug 31, 2026 Daniel Schneeberger10% owner Bought 403,571 $1.79 $0.7M Form 4
Aug 24, 2026 Daniel Schneeberger10% owner Bought 107,374 $1.75 $0.2M Form 4
Aug 21, 2026 Daniel Schneeberger10% owner Bought 716,369 $1.77 $1.3M Form 4
Aug 20, 2026 Daniel Schneeberger10% owner Bought 202,124 $1.78 $0.4M Form 4
Dec 9, 2025 Stuart RichChief Medical Officer, Director Bought 2,500 $10.22 $0.0M Form 4
Dec 8, 2025 Stuart RichChief Medical Officer, Director Bought 2,500 $10.10 $0.0M Form 4
Dec 4, 2025 Stuart RichChief Medical Officer, Director Bought 2,500 $9.20 $0.0M Form 4
Dec 3, 2025 Stuart RichChief Medical Officer, Director Bought 1,500 $9.08 $0.0M Form 4
Dec 2, 2025 Stuart RichChief Medical Officer, Director Bought 1,000 $9.01 $0.0M Form 4
Nov 20, 2025 Christopher Thomas GiordanoCEO, Director Bought 538 $7.59 $0.0M Form 4
Nov 19, 2025 Christopher Thomas GiordanoCEO, Director Bought 455 $7.51 $0.0M Form 4
Nov 18, 2025 June Sherie AlmenoffDirector Bought 1,900 $7.52 $0.0M Form 4
Nov 18, 2025 Christopher Thomas GiordanoCEO, Director Bought 1,612 $7.75 $0.0M Form 4
Nov 17, 2025 June Sherie AlmenoffDirector Bought 93 $7.15 $0.0M Form 4
Nov 17, 2025 Thomas McGauleyInterim CFO Bought 8,000 $7.27 $0.1M Form 4

Financial health

Can it carry its debts, and how well does it use its money?

Balance sheet

Cash, debt and the ratios that show how comfortably Tenax Therapeutics, Inc. can carry it.

In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.

Cash vs debt (incl. leases)

Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $5.6M$2.1M$9.8M$94.9M$97.6M
Interest coverage βˆ’36,364.7x2,512.0xβˆ’343.1xβˆ’847.6xβ€”
Current ratio 3.6x1.7x3.3x20.6x14.6x
Quick ratio 3.6x1.7x3.3x20.6x14.6x
Total assets $6.0M$3.4M$11.7M$96.7M$104M
Total liabilities $1.7M$1.9M$3.6M$4.7M$7.2M
Shareholders' equity $4.2M$1.5M$8.1M$92.0M$97.1M
Net debt (βˆ’ = net cash) β€”β€”β€”β€”β€”

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.

Return on capital, equity and assets (annual)

Return on capital Return on equity Return on assets

Piotroski F-score

KIRA Β· Tenax Therapeutics, Inc. passes 1 of 7 financial health tests (Piotroski F-score).

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.

TestFY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive βœ• βœ• βœ• βœ• βœ• βœ“ βœ• βœ• βœ•
Cash from operations is positive βœ• βœ• βœ• βœ• βœ• βœ• βœ• βœ• βœ•
Return on assets rose β€” βœ• βœ• βœ• βœ• βœ“ βœ• βœ“ βœ•
Cash from operations exceeds net income βœ• βœ“ βœ“ βœ“ βœ“ βœ• βœ“ βœ“ βœ“
Debt fell relative to assets β€” β€” β€” β€” β€” β€” β€” β€” β€”
Current ratio rose βœ“ βœ“ βœ• βœ“ βœ“ βœ• βœ“ βœ“ βœ•
Share count didn't rise β€” βœ• βœ• βœ• βœ• β€” β€” βœ• βœ•
Gross margin rose β€” β€” β€” β€” β€” β€” β€” β€” β€”
Revenue rose relative to assets β€” β€” β€” β€” βœ• β€” β€” β€” βœ•
F-score β€” / 4β€” / 6β€” / 6β€” / 62 / 7β€” / 5β€” / 5β€” / 61 / 7
Accruals ratio 19.9%βˆ’74.4%βˆ’8.5%βˆ’8.7%βˆ’336.2%477.5%βˆ’24.0%βˆ’5.2%βˆ’16.7%
Altman Z'' βˆ’62.70βˆ’45.48βˆ’124.70βˆ’100.48βˆ’181.15βˆ’251.98βˆ’80.7514.855.22

All figures

Every number, year by year.

10 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue β€” β€” β€” β€” $0.0M $0.0M β€” β€” $0.0M $0.0M
Net interest income β€” β€” β€” β€” $0.0M $0.0M β€” β€” β€” β€”
Research and development β€” $3.5M $1.2M $3.5M $4.6M $25.1M $5.4M $3.2M $12.7M $32.7M
Operating income β€” βˆ’$9.2M βˆ’$6.9M βˆ’$8.6M $9.9M βˆ’$32.7M $11.1M βˆ’$8.2M βˆ’$19.5M βˆ’$56.4M
Interest expense β€” β€” β€” $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Income tax β€” $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Net income β€” βˆ’$8.8M βˆ’$14.1M βˆ’$8.4M βˆ’$9.9M βˆ’$32.5M $11.0M βˆ’$7.7M βˆ’$17.6M βˆ’$52.6M
Diluted EPS β€” βˆ’$6.27 βˆ’$9.04 βˆ’$1.35 βˆ’$0.95 βˆ’$1.58 β€” βˆ’$31.04 βˆ’$1.15 βˆ’$1.34
Diluted shares β€” 0.00B 0.00B 0.01B 0.01B 0.02B β€” 0.00B 0.02B 0.04B
Cash flow
Cash from operations β€” βˆ’$12.1M βˆ’$5.5M βˆ’$7.6M βˆ’$9.3M βˆ’$10.9M βˆ’$11.4M βˆ’$5.9M βˆ’$14.8M βˆ’$35.8M
Capital expenditure β€” $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M β€” β€” β€”
Free cash flow β€” βˆ’$12.1M βˆ’$5.5M βˆ’$7.6M βˆ’$9.3M βˆ’$10.9M βˆ’$11.4M β€” β€” β€”
Depreciation and amortization β€” $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M β€”
Stock-based compensation β€” $0.1M $0.2M $0.0M β€” β€” β€” $0.2M $1.1M $19.2M
Balance sheet
Cash and short-term investments $13.3M $7.7M $12.9M $5.4M $6.7M $5.6M $2.1M $9.8M $94.9M $97.6M
Current assets $13.6M $8.1M $13.3M $6.2M $6.8M $5.7M $3.2M $11.7M $96.7M $104M
Current liabilities $6.2M $1.0M $1.6M $2.5M $2.1M $1.6M $1.8M $3.6M $4.7M $7.2M
Property and equipment, net $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M β€” β€”
Goodwill $0.0M β€” β€” β€” β€” β€” β€” β€” β€” β€”
Intangible assets $0.0M β€” β€” β€” β€” β€” β€” β€” β€” β€”
Total assets $23.3M $9.9M $13.3M $6.4M $6.9M $6.0M $3.4M $11.7M $96.7M $104M
Total liabilities $6.2M $1.0M $1.6M $2.6M $2.2M $1.7M $1.9M $3.6M $4.7M $7.2M
Preferred stock β€” $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Shareholders' equity $17.1M $8.9M $11.8M $3.8M $4.6M $4.2M $1.5M $8.1M $92.0M $97.1M
Margins
Operating margin β€” β€” β€” β€” 616,743.8% βˆ’3,636,466.7% β€” β€” β€” β€”
EBITDA margin β€” β€” β€” β€” 617,000.0% βˆ’3,636,011.1% β€” β€” β€” β€”
Net margin β€” β€” β€” β€” βˆ’615,712.5% βˆ’3,608,266.7% β€” β€” β€” β€”
FCF margin β€” β€” β€” β€” βˆ’579,775.0% βˆ’1,206,833.3% β€” β€” β€” β€”
Net interest share of revenue β€” β€” β€” β€” 100.0% 100.0% β€” β€” β€” β€”
Returns
Return on capital employed β€” βˆ’103.6% βˆ’58.6% βˆ’223.2% 207.8% βˆ’739.1% 709.9% βˆ’101.7% βˆ’21.2% βˆ’58.1%
Return on equity β€” βˆ’67.9% βˆ’137.0% βˆ’108.0% βˆ’234.6% βˆ’732.2% 385.1% βˆ’160.8% βˆ’35.2% βˆ’55.6%
Return on assets β€” βˆ’53.2% βˆ’121.8% βˆ’85.2% βˆ’148.9% βˆ’505.0% 235.1% βˆ’102.2% βˆ’32.5% βˆ’52.4%
Return on tangible equity β€” βˆ’99.5% βˆ’120.2% βˆ’222.5% βˆ’213.0% βˆ’765.1% 740.0% βˆ’95.2% βˆ’19.1% βˆ’54.2%
Growth
Revenue growth β€” β€” β€” β€” β€” βˆ’43.8% β€” β€” β€” β€”
Net income growth β€” β€” β€” β€” β€” β€” β€” βˆ’169.8% β€” β€”
Share count change β€” β€” 10.9% 295.9% 67.3% 98.5% β€” β€” 6,048.0% 156.8%
Financial health
Interest coverage β€” β€” β€” β€” 6,167.4x βˆ’36,364.7x 2,512.0x βˆ’343.1x βˆ’847.6x β€”
Current ratio 2.2x 8.0x 8.5x 2.4x 3.2x 3.6x 1.7x 3.3x 20.6x 14.6x
Quick ratio 2.2x 8.0x 8.5x 2.4x 3.2x 3.6x 1.7x 3.3x 20.6x 14.6x
Capital allocation
Capex / revenue β€” β€” β€” β€” 218.8% 588.9% β€” β€” β€” β€”
Quality scores
Piotroski F-score β€” β€” β€” β€” β€” 2.0 β€” β€” β€” 1.0
Altman Z'' β€” βˆ’62.7 βˆ’45.5 βˆ’124.7 βˆ’100.5 βˆ’181.1 βˆ’252.0 βˆ’80.7 14.9 5.2
Accruals ratio β€” 19.9% βˆ’74.4% βˆ’8.5% βˆ’8.7% βˆ’336.2% 477.5% βˆ’24.0% βˆ’5.2% βˆ’16.7%

Source: SEC EDGAR XBRL filings (CIK 0000034956). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β€” not investment advice. Check the original filings before relying on any figure.

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