Tenax Therapeutics shareholders were left holding a substantially lower-valued stock after the Phase 3 LEVEL readout for TNX-103 — and those losses may carry legal rights.

NEW YORK, Aug. 12, 2026 /PRNewswire/ — A single disclosure erased approximately 84% to 85% of Tenax Therapeutics (NASDAQ: TENX) shareholder value when the Company announced that its Phase 3 LEVEL trial of TNX-103 in PH-HFpEF missed both its primary and key secondary endpoints. If you held TENX shares and lost money, you have legal rights and are encouraged to submit your loss information now . You may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com  or by telephone at (212) 363-7500.

What shareholders received: a 3.5-meter placebo-adjusted improvement in six-minute walk distance, which was not statistically significant, and essentially no difference on the Kansas City Cardiomyopathy Questionnaire symptom score. Topline data had been guided to August 2026, moved up from the third quarter of 2026. Seven independent market sources confirmed the magnitude of the decline.

Shareholder rights do not depend on whether you still own the stock. Investors who sold TENX at a loss, and investors still holding shares, may both be eligible to participate in the pending investigation into potential securities law violations. There is no minimum loss amount and no cost to have your losses reviewed.

Investors who lost money on Tenax Therapeutics are encouraged to have your TENX losses evaluated at no cost  or call (212) 363-7500.

Levi & Korsinsky, LLP  | Top 50 Securities Firm | (212) 363-7500 | www.zlk.com

Frequently Asked Questions About the TENX Investigation

Q: Who is eligible to participate in the TENX investigation?  A: Investors who purchased TENX stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses — not on whether you still hold the shares.

Q: How much did TENX stock drop?  A: Shares fell approximately 84% to 85% after the Company disclosed that the Phase 3 LEVEL trial of TNX-103 missed its primary and key secondary endpoints. Investors who purchased shares at allegedly inflated prices and suffered losses may be eligible to seek compensation.

Q: What if I already sold my TENX shares — can I still recover losses?  A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought TENX and sold at a loss may still participate in the investigation.

Q: What if my TENX losses are small — is it still worth contacting a lawyer?  A: Yes. There is no minimum loss amount required to participate in the investigation.

Q: Do I need to go to court or give testimony?  A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.

Q: What does it cost me to participate?  A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in any resulting action, these matters are generally handled on a contingency basis, with any attorneys’ fees and expenses subject to court approval.

Q: What do TENX investors need to do right now?  A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery . No immediate action is required to remain eligible to participate in the investigation.

Q: What if I live outside the United States?  A: U.S. securities fraud investigations generally cover purchases on U.S. exchanges regardless of the investor’s country of residence.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com 
Tel: (212) 363-7500
Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP