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 following the company's failure to meet primary endpoints in its Phase 3 LEVEL clinical trial. The lawsuit alleges that the company made materially false and misleading statements regarding the development prospects of TNX-103, an oral levosimendan therapy intended for pulmonary hypertension in heart failure patients. The legal action covers investors who purchased Tenax securities between November 13, 2023, and August 7, 2026. The complaint claims that the company overstated the efficacy and regulatory prospects of TNX-103 by characterizing its development as 'derisked.' The market reacted sharply to the clinical trial results on August 10, 2026, when Tenax announced that the drug failed to meet both its primary endpoint of improved six-minute walk distance and key secondary endpoints.
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