By Shares of Tenax Therapeutics experienced a significant surge following the acceptance of a patent application for one of its product candidates. This particular candidate is intended to treat pulmonary hypertension in specific heart-failure patients.
Shares Rise 106%
In premarket trading, shares rose by an impressive 106%, reaching $18. However, it’s important to note that these shares have actually seen a decline of over 38% in the past three months.
Patent Application Granted
The U.S. Patent and Trademark Office has allowed the patent application from Tenax Therapeutics, which is based in Chapel Hill, North Carolina. The approved claims cover the utilization of TNX-103 (levosimendan), TNX-102 (subcutaneous levosimendan), TNX-101 (intravenous levosimendan), as well as the active metabolites of levosimendan (OR1896 and OR18955). Furthermore, it includes various combinations of cardiovascular drugs with levosimendan in order to enhance exercise performance in patients suffering from Pulmonary Hypertension with Heart Failure with Preserved Ejection Fraction.
Future Development Potential
Chief Executive and President Chris Giordano expressed optimism, stating, “This provides additional rationale for the future development of various drug-drug combinations with levosimendan.” The acceptance of this patent application serves as further support for the potential development of different combinations involving levosimendan.
Promising Late-Stage Trial
Levosimendan is currently undergoing testing in a late-stage trial conducted by Tenax. The trial specifically focuses on heart failure patients aiming to improve their walking capabilities.
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