<SEC-DOCUMENT>0000902664-25-005003.txt : 20251114
<SEC-HEADER>0000902664-25-005003.hdr.sgml : 20251114
<ACCEPTANCE-DATETIME>20251114160729
ACCESSION NUMBER:		0000902664-25-005003
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20251114
DATE AS OF CHANGE:		20251114

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TENAX THERAPEUTICS, INC.
		CENTRAL INDEX KEY:			0000034956
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				262593535
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-58467
		FILM NUMBER:		251485982

	BUSINESS ADDRESS:	
		STREET 1:		101 GLEN LENNOX DRIVE
		STREET 2:		SUITE 300
		CITY:			CHAPEL HILL
		STATE:			NC
		ZIP:			27517
		BUSINESS PHONE:		919-855-2100

	MAIL ADDRESS:	
		STREET 1:		101 GLEN LENNOX DRIVE
		STREET 2:		SUITE 300
		CITY:			CHAPEL HILL
		STATE:			NC
		ZIP:			27517

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OXYGEN BIOTHERAPEUTICS, INC.
		DATE OF NAME CHANGE:	20080703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SYNTHETIC BLOOD INTERNATIONAL INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SINEQUANON CORP
		DATE OF NAME CHANGE:	19901219

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Vestal Point Capital, LP
		CENTRAL INDEX KEY:			0001974915
		ORGANIZATION NAME:           	
		EIN:				922296021
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		632 BROADWAY
		STREET 2:		SUITE 602
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10012
		BUSINESS PHONE:		6469894000

	MAIL ADDRESS:	
		STREET 1:		632 BROADWAY
		STREET 2:		SUITE 602
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10012
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Vestal Point Capital, LP -->
          <cik>0001974915</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000034956</issuerCik>
        <issuerName>TENAX THERAPEUTICS, INC.</issuerName>
        <issuerCusip>88032L605</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>101 GLEN LENNOX DRIVE</com:street1>
          <com:street2>SUITE 300</com:street2>
          <com:city>CHAPEL HILL</com:city>
          <com:stateOrCountry>NC</com:stateOrCountry>
          <com:zipCode>27517</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Vestal Point Capital, LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2470096.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2470096.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2470096.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.9</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
      <typeOfReportingPerson>PN</typeOfReportingPerson>
      <comments>Reflects beneficial ownership as of September 30, 2025 (see Item 4). Includes 2,416,657  shares of Common Stock (as defined in Item 2(a)) issuable upon exercise of warrants (the "Warrants"). As more fully described in Item 4, the Warrants are subject to a 9.99% blocker (the "9.99% Blocker"), and the percentage set forth in row (11) gives effect to the 9.99% Blocker. However, as more fully described in Item 4, the shares of Common Stock reported in rows (6), (8) and (9) include the number of shares of Common Stock that would be issuable upon full exercise of the Warrants and does not give effect to the 9.99% Blocker. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to the 9.99% Blocker, is less than the number of shares of Common Stock reported in rows (6), (8) and (9).</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>Ryan Wilder</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>2470096.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>2470096.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2470096.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.9</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>Reflects beneficial ownership as of September 30, 2025 (see Item 4). Includes 2,416,657 shares of Common Stock issuable upon exercise of Warrants. As more fully described in Item 4, the Warrants are subject to a 9.99% Blocker, and the percentage set forth in row (11) gives effect to the 9.99% Blocker. However, as more fully described in Item 4, the shares of Common Stock reported in rows (6), (8) and (9) include the number of shares of Common Stock that would be issuable upon full exercise of the Warrants and does not give effect to the 9.99% Blocker. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to the 9.99% Blocker, is less than the number of shares of Common Stock reported in rows (6), (8) and (9).</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>TENAX THERAPEUTICS, INC.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>101 Glen Lennox Drive, Suite 300, Chapel Hill, NC 27517</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This statement is filed by:

(i) Vestal Point Capital, LP (the "Investment Manager"), a Delaware limited partnership, and the investment adviser to a certain fund and a managed account (the "Vestal Point Fund and Account"), with respect to the shares of common stock, par value $0.0001 per share (the "Common Stock"), of Tenax Therapeutics, Inc. (the "Company") and shares of Common Stock issuable upon exercise of the Warrants directly held by the Vestal Point Fund and Account; and

(ii) Mr. Ryan Wilder ("Mr. Wilder"), the  Chief Investment Officer and Managing Partner of the Investment Manager and the Managing Member of Vestal Point Capital, LLC, the general partner of the Investment Manager, with respect to the shares of Common Stock and shares of Common Stock issuable upon exercise of the Warrants directly held by the Vestal Point Fund and Account.

The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."

The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The address of the business office of each of the Reporting Persons is 632 Broadway, Suite 602, New York, NY 10012.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>The Investment Manager is a Delaware limited partnership.  Mr. Wilder is a citizen of the United States.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.

The Warrants reflected on the cover pages are subject to a 9.99% Blocker whereby they are not exercisable to the extent that following such exercise, taking into account all other shares of Common Stock beneficially owned by the Reporting Persons, the Reporting Persons would beneficially own in excess of 9.99% of the Company's outstanding Common Stock, as calculated in a manner consistent with the provisions of Section 13(d) of the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder. Consequently, as of the date of the event which requires the filing of this statement, some of the Warrants referred to herein are not presently exercisable due to the 9.99% Blocker. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 4,562,500 shares of Common Stock outstanding as of August 11, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 filed with the Securities and Exchange Commission on August 13, 2025, and assumes the exercise of the Warrants held by the Vestal Point Fund and Account subject to the 9.99% Blocker.

As of September 30, 2024, the Reporting Persons beneficially owned 83,333 shares of Common Stock in addition to the shares of Common Stock issuable upon exercise of the Warrants described above (subject to the 9.99% Blocker), representing 9.99% beneficial ownership of the Common Stock as of such date.</amountBeneficiallyOwned>
        <classPercent>9.9%</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>See Item 2(a).  The Vestal Point Fund and Account have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock reported herein.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <exhibitInfo>Exhibit 99.1: Joint Filing Agreement</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Vestal Point Capital, LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ryan Wilder</signature>
        <title>By: Vestal Point Capital, LLC, General Partner, By: Ryan Wilder, Chief Investment Officer and Managing Partner</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Ryan Wilder</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Ryan Wilder</signature>
        <title>Ryan Wilder, Individually</title>
        <date>11/14/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

</edgarSubmission>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>p25-2455exhibit99_1.htm
<DESCRIPTION>JOINT FILING AGREEMENT
<TEXT>
<HTML>
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<TITLE></TITLE>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>EXHIBIT 99.1</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>JOINT ACQUISITION STATEMENT<BR>
PURSUANT TO RULE 13d-1(k)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned acknowledge
and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments
to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the
completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness
and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information
is inaccurate.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">DATED: November 14, 2025</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">VESTAL POINT CAPITAL, LP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By: VESTAL POINT CAPITAL, LLC, General Partner</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="width: 41%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">/s/ Ryan Wilder</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:&nbsp;&nbsp;Ryan Wilder</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Investment Officer and Managing Partner</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">/s/ Ryan Wilder&#9;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="text-transform: uppercase">Ryan Wilder</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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