SmartContent
Oct 2, 7:23 PM
$TENX has functioned as a wealth-destroying capital incinerator by repeatedly wiping out retail investor value to fund a pipeline of clinical dead ends. Over its decades-long history, the company has completely failed or abandoned four major drug programs, including Oxycyte in 2014, intravenous Levosimendan in 2017, TNX-201 in 2023, and oral Levosimendan, which catastrophically missed its Phase 3 endpoints in August 2026. To survive these sequential clinical failures and counter the heavy stock dilution required to fund them, management has executed five separate reverse stock splits since 2009, a 1-for-15, three consecutive 1-for-20s, and a massive 1-for-80 split in January 2024.
So this really is a leap of faith. Understand the gamble.
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