Sphera Funds Management disclosed a 5.33% passive stake in Tenax Therapeutics via a Schedule 13G filing with the SEC. Sphera and its affiliates beneficially own 1,993,496 shares of Tenax common stock.
The disclosure follows a period of high volatility for the company's stock. The stock experienced a sharp decline earlier in the month. This decline occurred after a late-stage trial setback for its lead drug candidate. The filing reflects shares outstanding as of July 28, 2026.