MORRISVILLE, NC – (COMMERCIAL THREAD) – Tenax Therapeutics, Inc. (Nasdaq: TENX), a specialty pharmaceutical company focused on identifying, developing and commercializing products that treat cardiovascular and pulmonary disease with high unmet medical need, is expected to join the Russell Microcap® Index at the conclusion of the Russell 2021 Indexes’ annual replenishment effect after the U.S. market opens on June 28, according to a preliminary list of additions released on June 4.
Russell Microcap Membership® The index, which remains in place for one year, signifies automatic inclusion in the appropriate growth and value style indices. FTSE Russell determines membership in its Russell Indices primarily through objective market capitalization rankings and style attributes.
“Our inclusion in the Russell Microcap Index comes at an exciting time for our company, as we plan to advance our two flagship drug development programs (imatinib and levosimendan) into Phase 3 clinical trials,” said Anthony DiTonno, CEO of Tenax Therapeutics. “Over the next few months, we also anticipate a series of important research publications that will support Tenax’s pioneering approach to the treatment of pulmonary hypertension and heart failure with preserved ejection fraction. We therefore appreciate our inclusion in this widely followed index, which should increase our visibility with institutional investors at such an important time in our company’s growth.
Russell Indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. About $ 10.6 trillion in assets is compared to Russell’s U.S. indices. The Russell Indices are part of FTSE Russell, one of the world’s leading index providers. For more information on the Russell Microcap® Index and the Russell Reconstitution, see the “Russell Reconstruction” section on the FTSE Russell website.
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About Tenax Therapeutics
Tenax Therapeutics, Inc., is a specialty pharmaceutical company focused on identifying, developing and commercializing products that treat cardiovascular and pulmonary disease with high unmet medical need. The Company has a world-class scientific advisory team comprising recognized global experts in pulmonary hypertension. The Company owns the North American rights to develop and commercialize levosimendan and recently published the detailed results of the phase 2 HELP study of levosimendan in pulmonary hypertension associated with heart failure and preserved ejection fraction. (PH-HFpEF) at the Heart Failure Society of America (HFSA) Virtual Annual Scientific Meeting. Tenax is also developing a delayed-release oral formulation of imatinib, designed to prevent gastric irritation, in a single pivotal trial according to route 505 (b) (2). For more information, visit www.tenaxthera.com.
Levosimendan is a calcium sensitizer that works through a unique triple mechanism of action. It was originally developed for intravenous use in hospitalized patients with acute 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 is not available in the United States. Tenax Therapeutics acquired the North American rights to develop and commercialize levosimendan from Phyxius Pharma, Inc.
Imatinib is an antiproliferative agent developed to target BCR-ABL tyrosine kinase in patients with chronic myelogenous leukemia. The inhibitory effects of imatinib on the PDGF and c-KIT receptors suggest that it may be effective in PAH. Imatinib reversed experimentally induced pulmonary hypertension and has pulmonary vasodilator effects in animal models and pro-apoptotic effects on pulmonary artery smooth muscle cells of patients with idiopathic PAH. In a phase 3 clinical trial, imatinib produced significant improvements in exercise capacity, but a high dropout rate attributed largely to gastric intolerance precluded regulatory approval.
Caution Regarding Forward-Looking Statements
This press release contains certain forward-looking statements of the Company which involve risks and uncertainties and reflect the judgment of the Company as of the date of this press release. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, matters beyond the control of the Company which could cause delays in the clinical study, the launch of new products and customer acceptance of these new products; matters beyond the control of the Company that could affect the Company’s continued compliance with Nasdaq listing requirements; the impact of management changes on the Company’s business and unanticipated unanticipated charges, costs and expenses that may arise as a result of management changes; and other risks and uncertainties as described in documents filed by the Company with the Securities and Exchange Commission, including in its annual report on Form 10-K filed on March 31, 2021 and its quarterly report on Form 10 -Q filed on May 17, 2021, along with its other documents filed with the SEC. The Company disclaims any intention or obligation to update these forward-looking statements beyond the date of this press release. Statements in this press release regarding management’s future expectations, beliefs, objectives, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.