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Class action lawsuit filed against Tenax Therapeutics over misleading drug trial results

Market News
27 Oct 2026, 23:34 WIB
GlobeNewsWire
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Bearish
Class action lawsuit filed against Tenax Therapeutics over misleading drug trial results

Pomerantz LLP has filed a class action lawsuit against Tenax Therapeutics and certain officers for allegedly making false and misleading statements about the effectiveness of their drug TNX-103 during clinical trials. The lawsuit covers investors who bought Tenax securities between November 2023 and August 2026, following the company's failure to meet primary endpoints in its Phase 3 clinical trial announced in August 2026, which caused the stock price to plummet nearly 90%. The suit claims Tenax overstated the drug's clinical and commercial prospects, violating federal securities laws. Investors have until December 28, 2026, to join the class action or seek lead plaintiff status.

The class action lawsuit against Tenax Therapeutics and certain officers comes amid a health sector where, as of Oct 28, 2026 03:11 WIB, 88 of 150 priced US health stocks on Pluang rose while 62 fell. Notable movers include ClearPoint Neuro Inc (CLPT) with a price of USD 9.67 and a 1-day change of +6.97%, Novavax Inc (NVAX) at USD 10.03 with +6.70%, and Spyre Therapeutics Inc. (SYRE) at USD 98.88 with +6.43%. Typical hold times on Pluang range from 3 to 59 days for these stocks, with order activity showing strong buying interest for CLPT and NVAX.

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