Tenax Therapeutics (Tenax Therapeutics) Beneish M-Score : 0.00 (As of May. 24, 2024)

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What is Tenax Therapeutics Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Tenax Therapeutics's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Tenax Therapeutics was 1.37. The lowest was -16.55. And the median was -4.53.

Tenax Therapeutics Beneish M-Score Historical Data

The historical data trend for Tenax Therapeutics's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Tenax Therapeutics Beneish M-Score Chart

Tenax Therapeutics Annual Data

Trend

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Beneish M-Score

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Tenax Therapeutics Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Tenax Therapeutics's Beneish M-Score

For the Biotechnology subindustry, Tenax Therapeutics's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Tenax Therapeutics's Beneish M-Score Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Tenax Therapeutics's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tenax Therapeutics's Beneish M-Score falls into.

Tenax Therapeutics Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Tenax Therapeutics for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $14.46 Mil.
Total Assets was $14.46 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $4.97 Mil.
Total Current Liabilities was $2.03 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -3.799 + -3.226 + -1.972 + -1.106 = $-10.10 Mil.
Non Operating Income was 0.117 + 0.484 + 0 + -0.001 = $0.60 Mil.
Cash Flow from Operations was -5.166 + -1.175 + -2.081 + -0.923 = $-9.35 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $15.27 Mil.
Total Assets was $15.27 Mil.
Property, Plant and Equipment(Net PPE) was $0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.09 Mil.
Selling, General, & Admin. Expense(SGA) was $5.41 Mil.
Total Current Liabilities was $0.98 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (14.459 + 0) / 14.46)	/	(1 - (15.265 + 0.006) / 15.272)
	=	6.9E-5	/	6.5E-5
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	0	/	0
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.087 / (0.087 + 0.006))	/	(0.007 / (0.007 + 0))
	=	0.935484	/	1
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(4.965 / 0)	/	(5.408 / 0)
	=		/
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0 + 2.031) / 14.46)	/	((0 + 0.984) / 15.272)
	=	0.140456	/	0.064432
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-10.103 - 0.6	-	-9.345)	/	14.46
	=	-0.093914

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Tenax Therapeutics Beneish M-Score Related Terms

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Tenax Therapeutics (Tenax Therapeutics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Tenax Therapeutics Inc (NAS:TENX) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

101 Glen Lennox Drive, Suite 300, Chapel Hill, NC, USA, 27517

Website

https://www.tenaxthera.com

Tenax Therapeutics Inc is a specialty pharmaceutical company focused on identifying, developing, and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical needs. The company owns North American rights to develop and commercialize levosimendan and has released topline data regarding the Phase 2 clinical trial for the use of levosimendan in the treatment of Pulmonary Hypertension associated with Heart Failure and preserved Ejection Fraction.

Executives

Robyn Hunter	director	95 SAWYER ROAD, SUITE 110, WALTHAM MA 02453
Eliot M Lurier	officer: Interim CFO	C/O TENAX THERAPEUTICS, INC., ONE COPLEY PARKWAY, SUITE 490, MORRISVILLE NC 27560
Chrisopher Thomas Giordano	director, officer: CEO	C/O TENAX THERAPEUTICS, INC., ONE COPLEY PARKWAY, SUITE 490, MORRISVILLE NC 27560
Armistice Capital, Llc	director	510 MADISON AVENUE, 7TH FLOOR, NEW YORK NY 10022
Armistice Capital Master Fund Ltd.	director	C/O ARMISTICE CAPITAL, LLC, 510 MADISON AVENUE, 7TH FLOOR, NEW YORK NY 10022
Steven Boyd	director	510 MADISON AVENUE, 7TH FLOOR, NEW YORK NY 10022
June Sherie Almenoff	director	C/O BRAINSTORM CELL THERAPEUTICS INC., 1325 AVENUE OF AMERICAS 28TH FLOOR, NEW YORK NY 10019
Michael H. Davidson	director	OMTHERA PHARMACEUTICALS, INC., 707 STATE ROAD, PRINCETON NJ 08540
Declan Doogan	director	C/O BIOHAVEN PHARMACEUTICAL HOLDING COMP, 234 CHURCH STREET, NEW HAVEN CT 06510
Stuart Rich	officer: Chief Medical Officer	C/O TENAX THERAPEUTICS, INC., ONE COPLEY PARKWAY, SUITE 490, MORRISVILLE NC 27560
Illya Keith Maher	director	C/O ARMISTICE CAPITAL, 510 MADISON AVE., 7TH FLOOR, NEW YORK NY 10022
Ronald R Blanck	director	2001 WALNUT HILL LANE, IRVING TX 75038
Gerald T Proehl	director
James P. Mitchum	director	C/O NEPHROGENEX, INC., 79 T.W. ALEXANDER DRIVE, RESEARCH TRIANGLE PARK NC 27709
John P Kelley	officer: Chief Executive Officer	C/O ACORDA THERAPEUTICS, INC., 420 SAW MILL RIVER ROAD, ARDSLEY NY 10502