Stock Alert: Tenax Surges 60% On Positive Data From Levosimendan Trial

(RTTNews) - Shares of Tenax Therapeutics, Inc. (TENX) soared over 60% on Tuesday morning after the pharma maker reported positive data from mid-stage trial of levosimendan for treatment in heart disorder.

TENX is currently trading at $2.36, up $0.91 or 62.76%, on the Nasdaq.

Tenax announced positive Phase 2 results for levosimendan to reat pulmonary hypertension and heart failure with preserved ejection fraction.

Levosimendan demonstrated a statistically significant reduction in pulmonary capillary wedge pressure, the primary efficacy analysis, compared to baseline and placebo when the measurements at rest, with legs up and on exercise were combined. Levosimendan also showed significant improvement in 6-minute walk distance compared to placebo.

While there was no significant change in pulmonary capillary wedge pressure during exercise, patients had reductions from baseline at Week 6 in pulmonary artery pressure and right atrial pressure.

Dr. Stuart Rich, Professor of Medicine at the Bluhm Cardiovascular Institute at Northwestern University commented "Levosimendan is the first drug to ever show a favorable mechanism of action with biventricular effects in patients with PH-HFpEF. The consistency of the hemodynamic data and improvement in 6-minute walk demonstrates that levosimendan has great promise as a treatment for PH-HFpEF which has a serious unmet need. The favorable safety profile, especially the absence of any proarrhythmic effects, supports the further development with a phase 3 trial."