TENX Stock Price Increases Over 12% Pre-Market: Why It Happened

By Amit Chowdhry ● June 23, 2021
  • The stock price of Tenax Therapeutics Inc (NASDAQ: TENX) increased by over 12% pre-market. This is why it happened.

The stock price of Tenax Therapeutics Inc (NASDAQ: TENX) increased by over 12% pre-market. There is no recent company-specific news, but investors could be responding to a couple of SEC filings from Tenax. 

The Schedule 13D filings show that Dr. Stuart Rich has a 16.84% ownership stake and Dr. Declan Doogan has a 14.44% ownership stake. 

Dr. Rich and Dr. Doogan were both security holders in PHPrecisionMed. And on January 15, 2021, Tenax Therapeutics acquired 100% of the equity of PHPM pursuant to the plan of merger agreement.

Dr. Rich and Dr. Doogan are both new board members of Tenax as of March. Dr. Doogan has more than 30 years of industry experience in both major pharma and biotech. And Dr. Rich joined Tenax as Chief Medical Officer in 2021 from PHPM where he was a co-founder and held the positions of CEO and Director from October 2018 until January 2021.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.