SCHEDULE: Ikarian Capital Discloses Stake in Tenax Therapeutics

Ikarian Capital, LLC and Neil Shahrestani have reported a beneficial ownership of 6.7% in Tenax Therapeutics, Inc. as of March 31, 2026.

Summary

• Ikarian Capital, LLC and Neil Shahrestani, collectively referred to as the Reporting Persons, have filed a Schedule 13G, indicating their beneficial ownership of Tenax Therapeutics, Inc. common stock.
• As of March 31, 2026, the Reporting Persons beneficially own 1,145,100 shares of Tenax Therapeutics, Inc. common stock, representing 6.7% of the class.
• This ownership stake includes 127,500 shares that may be acquired within 60 days through options held by the Reporting Persons.
• The filing is based on the outstanding share count of 17,197,613 as of March 6, 2026, as disclosed in Tenax Therapeutics' Form 10-K filed on March 10, 2026.
• Ikarian Capital, LLC acts as the investment manager for the Ikarian Healthcare Master Fund, L.P. and certain separate managed accounts, which are the record owners of the securities.
• Neil Shahrestani may be deemed to indirectly beneficially own the securities through his control of Ikarian Capital, LLC.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of beneficial ownership by an investment firm and does not contain operational or financial performance updates.

Positives

• Ikarian Capital, LLC and Neil Shahrestani have disclosed a significant beneficial ownership stake of 6.7% in Tenax Therapeutics, Inc.
• The disclosure indicates active investment management and potential strategic interest in the company by Ikarian Capital.

Future Outlook

The filing does not contain forward-looking statements or guidance. It is a disclosure of beneficial ownership.

Management Comments

• Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement.
• Each Reporting Person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purpose of Section 13(d) or 13(g) of the Act.
• Each of the Reporting Persons declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purpose of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any group with respect to the issuer or any securities of the issuer.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors and investment advisors to report significant stakes in publicly traded companies, indicating active participation in the capital markets.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by Ikarian Capital may signal increased institutional interest, potentially influencing market perception and share price.
• Management: The filing may prompt management to consider the interests of this significant shareholder in strategic decisions.

Key Dates

Keywords

Tenax Therapeutics, Ikarian Capital, Schedule 13G, Beneficial Ownership, SEC Filing, Common Stock, Investment Management, Neil Shahrestani