X0202 SCHEDULE 13G 0001940272 XXXXXXXX LIVE Common Stock, $0.0001 par value per share 08/31/2026 0000034956 Tenax Therapeutics, Inc. 88032L605 101 Glen Lennox Drive, Suite 300 Chapel Hill NC 27517 Rule 13d-1(b) ADAR1 Capital Management, LLC b TX 0.00 5257389.00 0.00 5257389.00 5257389.00 N 14.0 IA OO The amounts reported in boxes 6, 8, and 9 represent 5,257,389 shares of common stock, $0.0001 par value per share ("Common Stock"), of Tenax Therapeutics, Inc. (the "Issuer") owned directly by private investment funds managed by ADAR1 Capital Management, LLC ("ADAR1") and separately managed accounts of ADAR1. Such securities may be deemed to be indirectly beneficially owned by ADAR1. In addition to the shares reported above, certain private investment funds managed by ADAR1 and separately managed accounts of ADAR1 hold pre-funded warrants exercisable for 59,073 shares of Common Stock and warrants exercisable for 31,096 shares of Common Stock. The shares of Common Stock issuable upon exercise of these warrants and pre-funded warrants are excluded from the amounts reported in boxes 6, 8, 9 and 11 because each such warrant and pre-funded warrant is subject to a 4.99% beneficial ownership limitation. The percentage in box 11 is based on 37,423,917 shares of Common Stock outstanding as of July 28, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, filed with the Securities and Exchange Commission on July 31, 2026. Daniel Schneeberger b V8 0.00 5257389.00 0.00 5257389.00 5257389.00 N 14.0 HC IN The amounts reported in boxes 6, 8, and 9 represent 5,257,389 shares of common stock, $0.0001 par value per share ("Common Stock"), of Tenax Therapeutics, Inc. (the "Issuer") owned directly by private investment funds managed by ADAR1 Capital Management, LLC ("ADAR1") and separately managed accounts of ADAR1. Such securities may be deemed to be indirectly beneficially owned by Daniel Schneeberger, the sole manager of ADAR1. In addition to the shares reported above, certain private investment funds managed by ADAR1 and separately managed accounts of ADAR1 hold pre-funded warrants exercisable for 59,073 shares of Common Stock and warrants exercisable for 31,096 shares of Common Stock. The shares of Common Stock issuable upon exercise of these warrants and pre-funded warrants are excluded from the amounts reported in boxes 6, 8, 9 and 11 because each such warrant and pre-funded warrant is subject to a 4.99% beneficial ownership limitation. The percentage in box 11 is based on 37,423,917 shares of Common Stock outstanding as of July 28, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, filed with the Securities and Exchange Commission on July 31, 2026. Tenax Therapeutics, Inc. 101 Glen Lennox Drive, Suite 300 Chapel Hill, NC, 27517 This Schedule is being filed on behalf of each of the following persons (each, a "Reporting Person" and collectively, the "Reporting Persons"): (i) ADAR1 Capital Management, LLC ("ADAR1 Capital Management"); and (ii) Daniel Schneeberger ("Mr. Schneeberger"). The address of the principal business office of each of the Reporting Persons is 3503 Wild Cherry Drive, Building 9, Austin, Texas 78738. (i) ADAR1 Capital Management is a Texas limited liability company; and (ii) Mr. Schneeberger is a citizen of Switzerland. N IA HC The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. The information contained on the cover pages of this Schedule 13G is incorporated herein by reference. Y Y N Mr. Schneeberger is filing this Schedule 13G as a control person in respect of shares beneficially owned by ADAR1 Capital Management, an investment adviser as described in SS 240.13d-1(b)(1)(ii)(E). Y Y N 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. Exhibit A: Joint Filing Agreement ADAR1 Capital Management, LLC /s/ Daniel Schneeberger 09/08/2026 Daniel Schneeberger /s/ Daniel Schneeberger 09/08/2026