Tenax Therapeutics, Inc. (TENX) stock prices were down by a marginal 0.53% as of the market closing on May 25th, 2021, bringing the price per share down to USD$1.88 at the end of the trading day.
R&D Expenses
Expenses incurred by research and development during the first quarter of the fiscal year 2021 came out to USD$22.4 million, significantly higher than the USD$1.3 million reported in the first quarter of 2020. The higher research and development costs over Q1 2021 are largely attributable to the recognition of roughly USD$21.8 million of in-process research and development related to the acquisition of PHPM in January of 2021.
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G7A Expenses and Net Loss
General and administrative expenses for the first quarter of 2021 were up from USD$1.3 million in Q1 2020 to USD$1.4 million. Net loss was down to USD$23.7 million, representing a net loss of USD$1.64 per share. This is comparable to the USD$2.7 million in net loss reported for the first quarter of 2020, representing a net loss of USD$0.38 per share.
Solid Liquidity Position
The company reported having cash, cash equivalents, and marketable securities in the amount of USD$4 million as of March 31st, 2021, compared to the USD$6.7 million reported as of December 31st, 2020. TENX anticipates its solid liquidity position being enough to cover the current operations through to the end of the third quarter of the fiscal year 2021.
Acquisition of PHPM
January 19th, 2021 saw TENX announce the acquisition of the privately-held clinical-stage biotech company PHPrecisionMed Inc. PHPM focusses on the development of imatinib for the treatment of pulmonary arterial hypertension (PAH). This acquisition of PHPM has immediately expanded TENX’s pipeline owing to the inclusion of a second de-risked Phase 3 ready candidate. This candidate has the potential to be the first disease-modifying treatment of pulmonary arterial hypertension.
Future Outlook for TENX
Armed with a solid liquidity position that will see the company through the next several months, TENX is poised to capitalize on its recent acquisition and facilitate further growth. Current and potential investors are hopeful that the company will continue to leverage the resources at its disposal to usher in significant and sustained increases in shareholder value.
