Pomerantz Law Firm Files Class Action Lawsuit Against Tenax Therapeutics Following Clinical Trial Failure
Pomerantz LLP has filed a class action lawsuit against Tenax Therapeutics, Inc. (NASDAQ: TENX) and certain officers in the U.S. District Court for the Middle District of North Carolina. The lawsuit alleges that the company made materially false and misleading statements regarding its lead product candidate, TNX-103 (levosimendan), during a class period spanning from November 13, 2023, to August 7, 2026. The legal action follows Tenax's announcement on August 10, 2026, that its Phase 3 LEVEL clinical trial failed to meet both its primary endpoint of improving six-minute walk distance and a key secondary symptom score. This failure contradicted previous claims that the development of TNX-103 was 'derisked.' Following the announcement, Tenax's stock price plummeted approximately 89.77%, dropping $12.06 per share to close at $1.38.
Tickers: $TENX
Topics: Class Action Federal Securities Laws Pharmaceuticals Securities Litigation