Tenax Therapeutics, Inc. (NASDAQ: TENX) has named Thomas R. Staab, II as its new Chief Financial Officer, effective May 11, 2026. Staab brings more than 25 years of financial leadership in the healthcare sector, most recently serving as CFO and Secretary of Lensar and as Senior Vice President, CFO and Treasurer at BioCryst Pharmaceuticals. He will replace interim CFO Thomas McGauley, who has overseen the finance organization since December 2024 during a period of accelerated clinical development.
The appointment comes as Tenax prepares to advance its oral levosimendan program, TNX‑103, for pulmonary hypertension associated with heart failure with preserved ejection fraction (PH‑HFpEF). The company has completed enrollment for its pivotal Phase 3 LEVEL trial and is awaiting topline data in the third quarter of 2026. Tenax’s cash and cash equivalents stood at $97.6 million as of December 31 2025, providing a runway through 2027 and positioning the company to pursue future financing or partnership opportunities.
CEO Chris Giordano said, “Tom brings decades of experience as a CFO, leading strategic finance functions, growing and integrating organizations, and launching products at multiple healthcare companies. He joins at a crucial moment in Tenax’s evolution, as we expand our registrational program globally and begin building out strategic capabilities key to levosimendan’s future as potentially the first available therapy for PH‑HFpEF patients.” Staab added, “I am excited to join Tenax and support an organization focused on developing a novel, potential first‑in‑class therapy for an indication with such a significant unmet need. I look forward to partnering with the leadership team and Board of Directors to position the company for long‑term success.”
Analysts have responded positively to the CFO appointment, issuing Outperform ratings for Tenax. The market has reacted favorably, reflecting confidence in the company’s clinical progress and the new financial leadership’s ability to manage the capital‑intensive Phase 3 program.
The CFO change strengthens Tenax’s financial stewardship as it navigates a critical development phase. With a solid cash runway and a clear path to data readout, the appointment signals management’s commitment to disciplined financial management and strategic execution, positioning the company for potential future financing or partnership opportunities.
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