24/7 Market News- Tenax Therapeutics Enters Oversubscribed $100 M PP
DENVER, Colo., Aug 06, 2024 (247marketnews.com)- Tenax Therapeutics, Inc. (Nasdaq: TENX) stated that it entered into an oversubscribed private placement financing, which is expected to generate approximately $100 million in total gross proceeds to Tenax, before deducting placement agent fees and other private placement expenses.
The Company plans to use the net private placement proceeds to complete its ongoing Phase 3 LEVEL trial, to initiate all sites and advance enrollment in a second planned Phase 3 trial of oral levosimendan, and for working capital, capital expenditures, and other general corporate purposes. Tenex believes that it will have enough to fund the Company’s operations through the end of 2027.
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