Tenax Therapeutics, Inc (TENX) has reported a 46.33 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $4.27 million, or $0.15 a share in the quarter, compared with $2.92 million, or $0.10 a share for the same period last year.
The company has not recorded any revenues for the current as well as previous quarter.
Operating income for the quarter was $4.50 million, compared with $3.10 million in the previous year period.
“We are pleased to be enrolling our last patients in the Phase 3 LEVO-CTS trial, after which we will begin preparing to lock our database,” said John Kelley, chief executive officer of Tenax Therapeutics. “We currently expect top-line data for the trial to readout in January 2017. This is the largest study ever conducted for levosimendan in the LCOS indication and we believe that our drug has the potential to provide an important treatment option for this critical care population. The growing interest and participation in LEVO-CTS confirms the significant commercial opportunity in North America and we are prepared to move forward with an NDA submission and subsequent product launch if this data is positive. We look forward to sharing these results with you shortly.”
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