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 0.0.
What can break
Exploratory subgroup and biomarker findings may not support regulatory approval or a revised registrational path.
Momentum
85
Value
58
Sentiment
11
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 2026-08-17 • Vendor: Data Vendor v1
Scores
As of 2026-09-11 • Model: HYBRID_IC_RP
AI Memo
As of 2026-08-11 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-09-11
Investment thesis
As of 2026-09-11
Grade is the composite factor band; factor scores use a 0–100 scale. Confidence describes evidence quality, not a probability of return. Score date: 2026-09-11. Definitions
Supporting evidence
What
Grade F · Defensive
Confidence Medium · Net Neutral
Target $9.63
Why
Momentum85 · Δ7d -6.9
Value58 · Δ7d 0.0
Sentiment11 · Δ7d +17.8
So what
Weak posture (Net Neutral). Prioritize risk control and patience.
Confirming evidence
- • Value remains the lead driver in the composite, 7D delta 0.0.
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
9% active weight
Current posture
7d trendFlat
Δ7d
-6.9
Δ21d
-12.1
Value
58
28% active weight
Current posture
7d trendFlat
Δ7d
0.0
Δ21d
+0.4
Sentiment
11
62% active weight
Current posture
7d trendImproving
Δ7d
+17.8
Δ21d
+27.8
Why this grade
Composite grade F. Momentum 84.6 / Value 57.7 / Sentiment 10.5
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 2026-08-17
Fundamentals (TTM)
As of 2026-08-17
Market Cap
$64M
Beta
1.41
Shares Out
37.42M
P/E (TTM) · Derived
-1.3
P/S (TTM)
-
P/FCF (TTM) · Derived
-1.64
Rev YoY
-100.0%
EPS YoY
+27.7%
Gross Margin
-43116.9%
Op Margin
-
Net Debt
-$97.57M
Current Ratio
15.07
As of 2026-09-11 • Updated nightlySource: Internal modelMethods & Data