SCHEDULE: Venrock Healthcare Discloses 9.9% Stake in Tenax Therapeutics

Venrock Healthcare Capital Partners and affiliates have reported a 9.9% beneficial ownership stake in Tenax Therapeutics, Inc. as of March 31, 2026.

Summary

• Venrock Healthcare Capital Partners III, L.P., VHCP Co-Investment Holdings III, LLC, and Venrock Healthcare Capital Partners EG, L.P. collectively hold 1,955,105 shares of Tenax Therapeutics common stock.
• The reporting group includes management entities VHCP Management III, LLC and VHCP Management EG, LLC, along with individuals Nimish Shah and Bong Y. Koh.
• The ownership stake is capped at 9.99% due to a 'Beneficial Ownership Blocker' provision in the warrants held by the reporting persons.
• The total beneficial ownership of 1,955,105 shares includes common stock, pre-funded warrants, and common warrants.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral regulatory disclosure confirming existing institutional positions without signaling a change in corporate strategy or control.

Positives

• Significant institutional backing from a specialized healthcare investment firm.
• The reporting persons have certified that the shares are not held for the purpose of changing or influencing the control of the issuer.

Negatives

• The 9.99% ownership cap limits the ability of the reporting persons to increase their stake without triggering regulatory or contractual thresholds.

Risks

• The exercise of warrants is restricted by a beneficial ownership blocker, which may limit the liquidity or immediate conversion of these holdings into common stock.
• The reporting persons are subject to the volatility and market risks associated with Tenax Therapeutics' common stock.

Future Outlook

The reporting persons have stated that the securities are not held for the purpose of changing or influencing the control of the issuer, indicating a passive investment stance.

Industry Context

StockSavvy.ai notes that this filing reflects continued institutional interest in the biotechnology sector, specifically in companies like Tenax Therapeutics that utilize warrants and pre-funded warrants as part of their capital structure to manage dilution and ownership thresholds.

Comparison to Industry Standards

• The use of a 9.99% beneficial ownership blocker is a standard practice for institutional investors in small-cap biotech to avoid becoming 'affiliates' under SEC rules.
• The filing structure is consistent with standard Schedule 13G reporting for passive institutional investors.

Stakeholder Impact

• Shareholders should note the significant institutional position held by the Venrock group, which may influence future liquidity and voting dynamics.

Next Steps

• The reporting persons will continue to monitor their investment in Tenax Therapeutics.

Key Dates

Keywords

Tenax Therapeutics, Venrock Healthcare, Schedule 13G, Institutional Ownership, Beneficial Ownership, Biotech Investment