Tenax Surges on Trial Data, Miniso Slides Post-Earnings in Premarket Action

Tenax Therapeutics and Snap Inc. saw their shares rise in Monday's premarket session, driven by positive clinical data and a rebound from a recent selloff, respectively. In contrast, Miniso Group Holding continued its slide following a disappointing earnings report last week, while broader U.S. stock futures edged lower amid geopolitical tensions and shifting interest-rate expectations.

Corporate Highlights

Shares of Tenax Therapeutics (NASDAQ: TENX) rose 3.8% after the company presented favorable additional data from its Phase 3 LEVEL trial. The data, shared at the European Society of Cardiology Congress, showed its drug candidate, oral levosimendan, had a notable treatment effect in patients with lower baseline exercise capacity. This could bolster the regulatory case for the drug in treating pulmonary hypertension associated with heart failure with preserved ejection fraction, a condition with no currently approved treatments.

Miniso (NYSE: MNSO) shares fell 6.2% to $9.69, extending losses after its second-quarter results on August 28 missed analyst expectations. The retailer reported a loss per share and revenue that both fell short of consensus estimates. Management cited significant weakness in overseas operations and a decline in distributor revenue as key factors.

Other significant movers included:

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• Snap (NYSE: SNAP): Shares gained 4.1%, recovering some of the ground lost last week when the stock fell about 9% after Pennsylvania’s attorney general filed a lawsuit against the company.
• Antelope Enterprise Holdings (NASDAQ: AEHL): The stock surged 65.6% after the company announced an $18.99 million private placement with accompanying warrants, a substantial capital raise relative to its market value.
• Pinterest (NYSE: PINS): Shares declined 2.2% following the announcement that Chief Financial Officer Julia Brau Donnelly is resigning. According to a regulatory filing, her departure is to pursue another opportunity and is not related to any disagreement with the company.

Broader Market Context

U.S. stock index futures pointed to a weaker open on Monday, with S&P 500 futures down 0.15% and Dow Jones Industrial Average futures slipping 0.19% in early trading. Investor sentiment was dampened by a sharp rise in crude oil prices following reports of new U.S. military strikes in the Persian Gulf.

Additionally, markets continued to digest a more hawkish tone from Federal Reserve Chair Kevin Warsh's recent address at the Jackson Hole economic symposium. This has led to a recalibration of interest-rate expectations, keeping pressure on rate-sensitive technology and growth stocks.