Tenax Therapeutics Regains Compliance with Nasdaq Minimum Bid Price Requirement
June 03 2020 - 8:30AM
Business Wire
Tenax Therapeutics, Inc. (Nasdaq: TENX), a specialty
pharmaceutical company focused on identifying, developing and
commercializing products that address cardiovascular and pulmonary
diseases with high unmet medical need, today announced that it
received notice from The Nasdaq Stock Market, LLC ("Nasdaq") on
June 2, 2020 indicating that the Company has regained compliance
with the minimum bid price requirement under Nasdaq Listing Rule
5550(a)(2) (the "Bid Price Rule") for continued listing on The
Nasdaq Capital Market. Accordingly, the Company has regained
compliance with the Bid Price Rule and the matter is now
closed.
About Tenax Therapeutics Tenax Therapeutics, Inc., is a
specialty pharmaceutical company focused on identifying,
developing, and commercializing products that address
cardiovascular and pulmonary diseases with high unmet medical need.
The Company has a world-class scientific advisory team including
recognized global experts in pulmonary hypertension. The Company
owns North American rights to develop and commercialize
levosimendan and has recently released topline data regarding their
Phase 2 clinical trial for the use of levosimendan in the treatment
of Pulmonary Hypertension associated with Heart Failure and
preserved Ejection Fraction (PH-HFpEF). For more information, visit
www.tenaxthera.com.
About Levosimendan Levosimendan is a calcium sensitizer
that works through a unique triple mechanism of action. It
initially was developed for intravenous use in hospitalized
patients with acutely decompensated heart failure. It was
discovered and developed by Orion Pharma, Orion Corporation of
Espoo Finland, and is currently approved in over 60 countries for
this indication and not available in the United States. Tenax
Therapeutics acquired North American rights to develop and
commercialize levosimendan from Phyxius Pharma, Inc.
Caution Regarding Forward-Looking Statements This news
release contains certain forward-looking statements by the Company
that involve risks and uncertainties and reflect the Company’s
judgment as of the date of this release. The forward-looking
statements are subject to a number of risks and uncertainties,
including, but not limited to matters beyond the Company’s control
that could lead to delays in the clinical study, new product
introductions and customer acceptance of these new products;
matters beyond the Company’s control that could impact the
Company’s continued compliance with Nasdaq listing requirements;
the impact of management changes on the Company’s business and
unanticipated charges, costs and expenditures not currently
contemplated that may occur as a result of management changes; and
other risks and uncertainties as described in the Company’s filings
with the Securities and Exchange Commission, including in its
annual report on Form 10-K filed on March 30, 2020, and its
quarterly report of Form 10-Q filed on May 15, 2020, as well as its
other filings with the SEC. The Company disclaims any intent or
obligation to update these forward-looking statements beyond the
date of this release. Statements in this press release regarding
management’s future expectations, beliefs, goals, plans or
prospects constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995.
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version on businesswire.com: https://www.businesswire.com/news/home/20200603005107/en/
ICR Stephanie Carrington, 646-277-1282
stephanie.carrington@icrinc.com
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