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Tenon Medical, Inc. - TNON STOCK NEWS

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Tenon Medical, Inc., a medical device company founded in 2012, is innovating the treatment of sacroiliac (SI) joint disorders through a minimally invasive approach. The company's flagship product, The Catamaran® SI Joint Fusion System, employs a robust titanium implant to offer an efficient solution for SI joint pain, which is a prevalent cause of lower back discomfort.

Tenon Medical focuses on three pivotal commercial applications:

  • Primary SI Joint procedures
  • Revision procedures for failed SI Joint implants
  • SI Joint fusion adjunct to a spine fusion construct
Launched nationally in October 2022, The Catamaran System has proven its efficacy in stabilizing and transfixing the SI Joint along its longitudinal axis, a feature that sets it apart from other solutions available in the market. The fixation device is designed to provide a pathway away from critical neural and vascular structures, ensuring patient safety and optimal outcomes.

Recent milestones for Tenon Medical include the successful closing of a private placement, raising approximately $2.6 million in gross proceeds, and the retirement of $1.25 million in secured debt. These financial moves have fortified the company's balance sheet and provided the necessary capital for growth investments and operational activities.

Moreover, the company received a Notice of Allowance from the USPTO for a key patent related to its Catamaran SI Joint implant, further bolstering its intellectual property portfolio. With eight issued patents and twenty-three pending applications, Tenon Medical continues to protect and enhance its market-leading technology.

On the financial front, Tenon Medical reported significant growth in revenue and gross profit for the fourth quarter and full year of 2023, driven by a notable increase in surgical procedures using The Catamaran System. The company's efforts in commercialization have led to three consecutive quarters of positive gross profit, achieving a gross margin of 69% in the fourth quarter of 2023.

Looking ahead, Tenon Medical remains committed to expanding its product portfolio, refining its sales and marketing strategies, and driving long-term value for its stakeholders. The company's mission is to transform care for patients suffering from SI joint disorders, and its innovative solutions continue to demonstrate strong clinical and financial performance.

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Tenon Medical (NASDAQ:TNON), a company focused on sacroiliac joint disorders, has appointed Kevin Williamson as Chief Financial Officer. Williamson, with extensive experience in medical device finance, succeeds Steve Van Dick. His background includes CFO roles at Accelus Inc. and finance positions at NuVasive, Inc. This appointment comes as Tenon approaches key milestones, including the completion of enrollment for their post-market clinical trial of The Catamaran SI Joint Fusion System. CEO Steve Foster highlighted Williamson's experience as important for Tenon's next growth phase. Williamson expressed enthusiasm about joining Tenon at this pivotal moment, aiming to manage sustainable revenue and create operating leverage as the company expands in the SI market.

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Tenon Medical (NASDAQ:TNON), a company focused on treating sacroiliac joint disorders, has announced the timing of its second quarter 2024 financial results. The company will release its financial results for the quarter ended June 30, 2024, after market close on Tuesday, August 13, 2024. This will be followed by a conference call at 4:30 p.m. Eastern Time on the same day to discuss the results in detail and conduct a Q&A session with covering analysts. Investors can join the call via phone or webcast, with dial-in numbers provided for both domestic and international participants. An audio replay will be available until August 27, 2024, through Tenon's Investor Relations website or via telephone.

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Tenon Medical (NASDAQ:TNON) reported significant growth in its Q1 2024 financial results, showcasing a 66% year-over-year revenue increase to $719,000, driven by a 42% rise in Catamaran System surgical procedures.

The company achieved a gross profit of $470,000, marking a stark improvement from a gross loss of ($47,000) in Q1 2023, with a stable gross margin of 65%.

Notable developments include positive fusion results from a post-market study of the Catamaran SI Joint Fusion System and the receipt of a U.S. patent allowance for its Catamaran implant.

The company reduced its operating losses to $3.5 million, down from $4.9 million in Q1 2023, and ended the quarter with $4.4 million in cash and cash equivalents.

Additionally, Tenon retired $1.25 million in debt through a $2.6 million Series A Preferred Stock financing.

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Tenon Medical, Inc. will announce its first quarter 2024 financial results on May 14, 2024, after market close. The company will host a conference call to discuss the results in detail, followed by a Q&A session with analysts. Investors can access the call via dial-in or webcast and listen to the playback on the Investor Relations website.

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Tenon Medical, Inc. appoints Kristine Jacques, an experienced medical devices industry executive, to its Board of Directors. Ms. Jacques brings over 35 years of expertise in global commercialization, marketing, and product management. Her appointment aims to enhance Tenon's commercialization strategy for its Catamaran System and SI technologies.
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Tenon Medical, Inc. announces significant progress in a post-market study for sacroiliac joint disorders using the Catamaran SI Joint Fusion System. Preliminary results show robust fusion at 12 months post-procedure, along with improvements in pain scores and high patient satisfaction ratings.
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Tenon Medical, Inc. (TNON) reports impressive financial results for Q4 2023 and full year 2023 with significant revenue growth, positive gross profit margins, and increased surgical procedures. The company's Catamaran SI Joint Fusion System was featured in physician training programs, leading to a 312% increase in procedures. Tenon also raised capital through Series A Preferred Stock issuance and debt repayment. Despite the strong performance, operating losses decreased, and the company expects additional losses in the future.
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Tenon Medical, Inc. (TNON) to release financial results for Q4 and full year 2023 on March 12, 2024. Conference call scheduled for analysts and investors.
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Tenon Medical, Inc. received a Notice of Allowance from the USPTO for its Catamaran® SI Joint implant, enhancing its patent portfolio. The company aims to provide innovative products for patients with sacroiliac joint disorders.
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Tenon Medical, Inc. raises approximately $2.6 million in gross proceeds through a private placement of Series A Preferred Stock and warrants. The company also retires $1.25 million in secured debt. The funds will be used for growth investments, working capital, and general corporate purposes.
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FAQ

What is the current stock price of Tenon Medical (TNON)?

The current stock price of Tenon Medical (TNON) is $2.18 as of December 6, 2024.

What is the market cap of Tenon Medical (TNON)?

The market cap of Tenon Medical (TNON) is approximately 7.0M.

What is Tenon Medical, Inc.?

Tenon Medical, Inc. is a medical device company specializing in innovative technologies for the treatment of sacroiliac (SI) joint disorders.

What products does Tenon Medical offer?

Tenon Medical offers The Catamaran® SI Joint Fusion System, a minimally invasive solution using a robust titanium implant for SI joint disorders.

What are the primary commercial applications of The Catamaran System?

The Catamaran System is used for Primary SI Joint procedures, Revision procedures for failed SI Joint implants, and SI Joint fusion adjunct to spine fusion constructs.

What recent financial achievements has Tenon Medical announced?

Tenon Medical recently raised approximately $2.6 million in a private placement, retired $1.25 million in debt, and reported significant revenue growth for 2023.

What is the significance of the recent patent allowance for Tenon Medical?

The recent patent allowance from the USPTO enhances Tenon Medical's intellectual property portfolio, securing its proprietary technology for the Catamaran SI Joint implant.

How has Tenon Medical performed financially in 2023?

Tenon Medical reported a 312% year-over-year increase in surgical procedures, a 324% revenue increase, and a gross margin of 69% for the fourth quarter of 2023.

What is the future outlook for Tenon Medical?

Tenon Medical aims to expand its product portfolio, refine its sales and marketing strategies, and drive long-term value for stakeholders while continuing to innovate in SI joint treatment.

How does The Catamaran System ensure patient safety?

The Catamaran System's fixation device is designed to provide a pathway away from critical neural and vascular structures, ensuring patient safety during the procedure.

What clinical results support the effectiveness of The Catamaran System?

Preliminary post-market study results indicate robust SI joint fusion at 12 months post-procedure, significant improvements in pain scores, and high patient satisfaction.

Who can invest in Tenon Medical?

Tenon Medical's stock is publicly traded on NASDAQ under the symbol TNON, making it available for investment to the general public.

Tenon Medical, Inc.

Nasdaq:TNON

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TNON Stock Data

6.96M
3.08M
1.7%
1.8%
36.56%
Medical Devices
Surgical & Medical Instruments & Apparatus
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United States of America
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