Why did Tenax Therapeutics' operating expenses surge in Q4 2024?

The operating expenses of Tenax Therapeutics increased significantly in Q4 2024 primarily due to the following reasons: 1. **Phase 3 Study Expenses**: The most significant increase in expenses was related to the ongoing Phase 3 LEVEL study for TNX-103. This study's costs were higher than those for the Phase 2 HELP open-label extension (OLE) study conducted in the previous year. 2. **Personnel Costs**: There was also an increase in personnel costs, which included some stock-based expenses. This rise in personnel costs could be attributed to the expansion of the company's investment in research and development, as well as the hiring of additional staff to support the ongoing and upcoming clinical trials. In summary, the surge in Tenax Therapeutics' operating expenses in Q4 2024 was primarily driven by the costs associated with advancing its Phase 3 LEVEL study and increased personnel costs.