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Tenax Therapeutics faces class action over false claims on drug efficacy, stock plunged 89.77% after trial failure.

Market News
28 Oct 2026, 16:00 WIB
GlobeNewsWire
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Bearish
Tenax Therapeutics faces class action over false claims on drug efficacy, stock plunged 89.77% after trial failure.

Tenax Therapeutics is subject to a securities class action lawsuit alleging the company misled investors about the effectiveness of its drug TNX-103. The lawsuit claims the company concealed poor clinical trial results, which were revealed on August 10, 2026, when the drug failed key endpoints in a Phase 3 trial. Following this disclosure, Tenax's stock price dropped nearly 90%, causing significant investor losses. Investors who bought shares between November 2023 and August 2026 may join the class action and have until December 28, 2026, to seek lead plaintiff status.

Tenax Therapeutics, Inc. is the subject of a securities class action lawsuit. For readers following the health sector, here is Pluang's market snapshot as of Oct 28, 2026 19:43 WIB: out of 150 priced health-sector US stocks, 44 rose and 95 fell. Notable movers include ACB at USD 4.44 with a 1-day change of +6.99%, GEHC at USD 75.00 with +5.47%, and INO at USD 0.94 with +5.40% and a Pluang order activity split of 54% Sell / 46% Buy.

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