PR Newswire · Press release

What Should Tenax Therapeutics, Inc. Investors Know After 89.77% Stock Drop? The Law Offices of Frank R. Cruz Outlines Securities Fraud Class Action Lead Plaintiff Deadline

The Law Offices of Frank R. Cruz, Los AngelesNov 6, 2026, 1:40 PM ETNASDAQ:TENX

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Lawsuit alleges Tenax Therapeutics, Inc. made misleading statements to investors from November 13, 2023 to August 7, 2026; lead plaintiff motions are due December 28, 2026

LOS ANGELES, Nov. 6, 2026 /PRNewswire/ -- The Law Offices of Frank R. Cruz today announced a class action lawsuit against Tenax Therapeutics, Inc. ("Tenax" or the "Company") (NASDAQ: TENX) on behalf of investors who acquired the Company's securities from November 13, 2023 to August 7, 2026. Filed on October 26, 2026, the case is Katz v. Tenax Therapeutics, Inc. et al., U.S. District Court North Carolina Middle District, Case No. 1:26-cv-01264.

If you lost money on Tenax Therapeutics, Inc. securities, submit your Tenax Therapeutics, Inc. loss information by December 28, 2026 to learn about participating in the lawsuit.

Tenax Therapeutics, Inc. class action timeline

Class period begins: November 13, 2023
Class period ends: August 7, 2026
Complaint filed: October 26, 2026
Lead plaintiff motion deadline: December 28, 2026

What happened?

On August 10, 2026, Tenax issued a press release reporting topline results from its Phase 3 LEVEL clinical trial. The press release stated that TNX-103 "did not meet its primary endpoint of improvement in the 6-minute walk distance versus placebo, or the key secondary endpoint of improvement in Kansas City Cardiomyopathy Questionnaire total symptom score."

On this news, Tenax's stock fell $12.06 per share, or 89.77%, to close at $1.38 per share on August 10, 2026, thereby injuring investors.

What is the Tenax Therapeutics, Inc. lawsuit about?

The Tenax Therapeutics, Inc. securities lawsuit alleges that, between November 13, 2023 and August 7, 2026, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Tenax Therapeutics, Inc.'s business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose that: (1) TNX-103 was less effective than Defendants had led investors to believe; (2) accordingly, TNX-103's overall clinical, regulatory, and commercial prospects were overstated; and (3) as a result, defendants' positive statements about Tenax Therapeutics, Inc.'s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

"According to the complaint filed against Tenax Therapeutics, Inc., the Company, among other things, did not disclose that TNX-103 was less effective than Defendants had led investors to believe. The December 28, 2026 deadline is a key date for Tenax Therapeutics, Inc. investors who want a voice in how this case moves forward," said Frank R. Cruz of The Law Offices of Frank R. Cruz.

What should Tenax Therapeutics, Inc. investors do now?

The Law Offices of Frank R. Cruz can help Tenax Therapeutics, Inc. investors evaluate potential claims to recover their losses.

Investors who want to serve as lead plaintiff in the Tenax Therapeutics, Inc. class action must file a motion with the Court by December 28, 2026. For more information, visit the Tenax Therapeutics, Inc. case page, email info@frankcruzlaw.com, or call 310-914-5007.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

Investors may retain counsel of their choice. Tenax Therapeutics, Inc. investors who bought during the class period may also take no action and remain absent class members. No class has been certified yet in the Tenax Therapeutics, Inc. case.

Questions and answers about the Tenax Therapeutics, Inc. lawsuit

Who is eligible? Investors who bought Tenax Therapeutics, Inc. securities between November 13, 2023 and August 7, 2026 and lost money may be class members, and may seek lead plaintiff appointment by December 28, 2026.

What does a lead plaintiff do? The lead plaintiff is appointed by the court to represent all class members and direct the Tenax Therapeutics, Inc. class action.

Must I be lead plaintiff to share in a recovery? No, Tenax Therapeutics, Inc. investors can take no action and remain absent class members.

How are attorneys' fees handled? The Law Offices of Frank R. Cruz works on contingency, so Tenax Therapeutics, Inc. investors pay no attorneys' fees up front. Any attorneys' fees and litigation expenses come only from a recovery, if there is one, and require court approval.

About The Law Offices of Frank R. Cruz

The Law Offices of Frank R. Cruz investigates and prosecutes securities fraud and corporate malfeasance class actions. With nearly 20 years of litigation experience, the firm focuses on complex securities class actions and gives each client personal, one-on-one attention throughout the legal process.

Prior results do not guarantee a similar outcome.