TENX - Tenax to evaluate strategic alternatives including a sale or a merger shares rise ~7%

• Tenax Therapeutics ( NASDAQ: TENX ) on Thursday said it is evaluating strategic alternatives including a sale or a merger as it believes its current valuation does not reflect the potential value of its clinical-stage pipeline.
• Shares of the micro-cap specialty pharmaceutical company were 6.6% higher at $0.25 in morning trading.
• Roth Capital Partners will support the company as its financial advisor in the evaluation process, TENX said in a statement.
• The company is developing two oral formulations for the treatment of pulmonary hypertension called TNX-201 and TNX-103.
• "Both TNX-201 and TNX-103 are Phase 3-ready assets, each with the potential to meaningfully impact the quality and longevity of patient lives," the company said.
• TENX also said to optimize its financial resources through the strategic review process, it would shift the anticipated launch of the TNX-201 phase 3 trial, previously expected to begin in H2 2022, into 2023.

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