B+
Bull case
20%
Probability
Target price
$2.25
Analysis reference price unavailable
Analysis 2026-08-11 · RankAlpha Sentiment Codex
TENX
Tenax TherapeuticsFNasdaq / Pharmaceuticals, Biotechnology & Life Sciences
Last Price
Quote time unavailable
Current thesis
The trial produced potentially meaningful exploratory signals, including a 26.3-meter improvement in the lower-baseline-walk subgroup, a 49% relative NT-proBNP reduction, and a 3.5 mmHg RVSP reduction. Cash of $118.0 million as of June 30, 2026 was expected to fund operations through Q2 2028, preserving time for FDA discussions and LEVEL-2 execution [#8-K-2026-08-10][#SEC-8K-2026-07-31].
Posture
Defensive
Lead driver
Value
What changed
Value remains the lead driver in the composite, 7D delta +0.2.
What can break
Exploratory subgroup and biomarker findings may not support regulatory approval or a revised registrational path.
Momentum
85
Value
57
Sentiment
14
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $0.95 · Bull $2.25 · Bear $0.45Analysis 2026-08-11; returns require an exact persisted reference.
Data freshness
Prices
Unavailable: Price unavailable
Fundamentals
As of 2026-10-30 • Vendor: Data Vendor v1
Scores
As of 2026-10-30 • Model: HYBRID_IC_RP
AI Memo
As of 2026-08-11 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-10-30
Investment thesis
As of 2026-10-30
Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-10-30. Definitions
Supporting evidence
What
Grade F · Defensive
Confidence Medium · Net Neutral
Target $9.63
Why
Momentum85 · Δ7d -
Value57 · Δ7d +0.2
Sentiment14 · Δ7d -
So what
Weak posture (Net Neutral). Prioritize risk control and patience.
Confirming evidence
- • Value remains the lead driver in the composite, 7D delta +0.2.
Contradictions & invalidation
- • Exploratory subgroup and biomarker findings may not support regulatory approval or a revised registrational path.
- • FDA feedback could require additional trials, protocol changes, or delay.
- • Missing both primary and key secondary endpoints materially weakens the registrational thesis.
Catalyst clock
2026-08-11
LEVEL Phase 3 topline failure resets the thesis
Lead driver: Value · See fundamentals
Momentum
85
8% active weight
Current posture
7d trendFlat
Δ7d
-
Δ21d
-
Value
57
47% active weight
Current posture
7d trendFlat
Δ7d
+0.2
Δ21d
-0.3
Sentiment
14
45% active weight
Current posture
7d trendImproving
Δ7d
-
Δ21d
-
Why this grade
Composite grade F. Momentum 84.6 / Value 57.1 / Sentiment 13.6
Scenario snapshot
Scenario probability is memo-authored likelihood, not forecast certainty. Targets belong to the analysis dated 2026-08-11. Scenario method
Most likely
B
Base case
50%
Probability
Target price
$0.95
Analysis reference price unavailable
Analysis 2026-08-11 · RankAlpha Sentiment Codex
B-
Bear case
30%
Probability
Target price
$0.45
Analysis reference price unavailable
Analysis 2026-08-11 · RankAlpha Sentiment Codex
Fundamentals (TTM)As of 2026-10-30
Fundamentals (TTM)
As of 2026-10-30
Market Cap
$66.99M
Beta
1.41
Shares Out
37.42M
P/E (TTM) · Derived
-1.3
P/S (TTM)
-
P/FCF (TTM) · Derived
-1.72
Rev YoY
-100.0%
EPS YoY
+27.7%
Gross Margin
-43116.9%
Op Margin
-
Net Debt
-$97.57M
Current Ratio
15.07
As of 2026-10-30 • Updated nightlySource: Internal modelMethods & Data