Tenax Therapeutics, Inc. announced that the Company is evaluating alternative strategic paths focused on maximizing shareholder value. Roth Capital Partners will support Tenax Therapeutics as its financial advisor in this process. Tenax Therapeutics is developing TNX-201 (modified release imatinib) for the treatment of pulmonary arterial hypertension (PAH) and TNX-103 (oral levosimendan) for the treatment of Pulmonary Hypertension with Heart Failure with Preserved Ejection Fraction (PH-HFpEF).

Both TNX-201 and TNX-103 are Phase 3-ready assets, each with the potential to meaningfully impact the quality and longevity of patient lives. Tenax Therapeutics and its Board of Directors believe the current valuation of the Company does not accurately reflect the potential value of its clinical-stage pipeline. The Company will therefore explore a diverse range of strategic options to help drive shareholder value including, among other things, a sale, merger, or other strategic transaction.

There can be no assurance, however, that this process will result in a transaction or other alternative. There is no set timetable for the strategic review process and Tenax Therapeutics does not intend to provide updates unless or until the Board approves a specific action or otherwise determines that disclosure is appropriate or necessary. To optimize its financial resources through this strategic review process, the Company is shifting the anticipated launch of the imatinib Phase 3 trial in PAH, previously anticipated to begin in 2H 2022, into 2023.