Here’s What Happened With Alnylam Pharmaceuticals, Inc. (ALNY) and Tenax Therapeutics Inc (TENX)

So, let’s put that on hold for now until (if) we get some more information on the situation, and move on to Tenax.

This has taken second fiddle to the Alnylam discontinuation, but for shareholders of Tenax Therapeutics Inc (NASDAQ:TENX), it’s just as important. The latter’s lead septic shock trial just failed to meet its primary endpoint, and the company is set to discontinue its investigation.

It’s an already approved drug, and Tenax Therapeutics Inc (NASDAQ:TENX) was looking to expand its use into the above mentioned septic shock indication. In a double blind trial, however, the drug (active) arm did not meet the primary endpoint of reducing the incidence and severity of acute organ dysfunction in adult patients who have septic shock, as well as a bunch of pre-specified secondary endpoints.

It’s not great news, and the company has taken around a 10% hit on the news (although during today’s session, it has stages a slight recovery on a bounce). Having said this, the septic shock indication is secondary to the company’s lead trial, which is investigating the same drug in a condition called low cardiac output syndrome (LCOS). The company is just shy of an 880 patient enrollment target in a phase 3 on this one, and an independent monitoring board has already recommended approval based on the available safety data from a little over 600 patients.

This is going to be the company’s primary focus going forward, and it’s what we are watching from a catalyst perspective near term.

So there we go. As these two play out we are going to be watching for any indication that either of the two declines might become a buy opportunity. Of the two, the first (Alnylam) is our key focus right now. A 50% hit on a company that size (although it’s yet to prove this worth with revenues) is always potentially an oversell if it’s just one catalyst, and this hints at a medium term recovery on any positive data going forward.

Note: This article is written by Mark Collins and originally published at Market Exclusive.