Welcome to our dedicated page for Tenon Medical news (Ticker: TNON), a resource for investors and traders seeking the latest updates and insights on Tenon Medical stock.
Tenon Medical, Inc. (NASDAQ: TNON) is a medical device company focused on minimally invasive sacroiliac (SI) joint and sacro-pelvic fusion technologies. News about Tenon often centers on its Catamaran SI Joint Fusion System, the Catamaran SE reduced-profile implant, and the SImmetry and SImmetry+ SI Joint Fusion Systems acquired through the SiVantage transaction. These platforms are designed to stabilize the SI joint and promote true fusion using titanium implants and proprietary instrumentation.
Investors and clinicians following TNON news can expect updates on product clearances, commercial launches and clinical milestones. Recent announcements include FDA 510(k) clearance for the SImmetry+ SI Joint Fusion System, which uses 3D-printed titanium implants and a minimally invasive lateral access approach, and the successful completion of initial clinical cases with SImmetry+ at spine centers across multiple U.S. states. Tenon also reports on the full market launch of the Catamaran SE SI Joint Fusion System, expanding its implant portfolio with a smaller device option for varying anatomy and revision scenarios.
Tenon’s news flow also covers financial performance and capital markets activity. Quarterly earnings releases discuss revenue from Catamaran and SImmetry procedures, gross margin trends, operating expenses, and cash balances, as well as integration progress for acquired assets and commercial expansion. The company has announced at‑the‑market PIPE financings, detailed in both press releases and Form 8‑K filings, describing share and warrant issuances and intended use of proceeds for working capital, product launches, clinical studies and commercial operations.
Corporate updates in TNON news include asset purchase agreements for sacro-pelvic technologies, employment agreements with key commercial and innovation leaders, and governance matters such as annual meeting voting results and equity incentive plan amendments. For readers tracking developments in SI joint fusion devices, Tenon’s news page provides a centralized view of regulatory, clinical, commercial and financing events related to its sacro-pelvic fusion portfolio.
Tenon Medical, Inc. (NASDAQ:TNON) has announced the issuance of three new U.S. patents, further strengthening its international patent portfolio for Sacroiliac Joint (SIJ) stabilization systems. The patents include:
1. U.S. Patent Nos. 12,115,075 and 12,115,076: Enhanced Catamaran® prostheses with unique drug delivery compositions for improved sealing and bone growth.
2. U.S. Patent No. 12,115,077: SI joint prostheses designed to correct failed SI joint stabilization without removing the failed implant.
These additions bring Tenon's patent portfolio for the Catamaran® SI Joint Fusion System to 12 issued U.S. and foreign patents, with 23 pending applications. The company views these patents as reinforcing its focus on innovation and strengthening its competitive position in the industry.
Tenon Medical (NASDAQ:TNON) has announced the issuance of three Notices of Allowance from the USPTO for patent applications related to their Catamaran® SI Joint Fusion System. Two applications focus on unique drug delivery compositions for bone growth, while the third addresses correcting failed SI joint stabilization without removing the failed implant.
These additions will expand Tenon's patent portfolio to 9 granted patents and 26 pending applications worldwide. Richard Ginn, Co-Founder and CTO, emphasized the importance of intellectual property protection in their growth strategy and commitment to innovation in SI joint treatment.
Tenon Medical, Inc. (NASDAQ:TNON), a company focused on sacroiliac joint disorders, has closed a $4.5 million public offering. The offering, priced at-the-market under Nasdaq rules, included 1,222,850 shares of common stock (or pre-funded warrants) and warrants to purchase up to 1,222,850 additional shares. The combined offering price was $3.68 per share and accompanying warrant. The warrants have an exercise price of $3.55 per share, are immediately exercisable, and will expire in five years. A.G.P./Alliance Global Partners acted as the sole placement agent for this offering, which was conducted under a Form S-1 registration statement.
Tenon Medical, Inc. (NASDAQ:TNON), a company focused on sacroiliac joint disorders, has announced the pricing of a $4.5 million public offering. The offering includes up to 1,222,850 shares of common stock (or pre-funded warrants) and warrants to purchase up to 1,222,850 shares at a combined price of $3.68 per share and accompanying warrant. The warrants have an exercise price of $3.55 per share, are immediately exercisable, and expire in five years. The offering, priced at-the-market under Nasdaq rules, is expected to close around September 16, 2024. Tenon plans to use the net proceeds for commercial activity, working capital, and general corporate purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent for this offering.
Tenon Medical (NASDAQ:TNON) has announced the alpha launch of its new Catamaran SE SI Joint Fusion System, scheduled for early Q4. This system features a 30% smaller implant compared to the original Catamaran device, offering physicians more options for smaller SI joint anatomy or revising previously treated joints. The SE system also includes a manual drilling option.
Key points:
- Catamaran SE provides choices for varying anatomy and treatment strategies
- Over 700 Catamaran fixation devices have been implanted to date
- The system is based on AO principles of arthrodesis
- Recent positive interim outcomes from the MAINSAIL Study were published
The alpha launch will gather initial user feedback before a broader market introduction.
Tenon Medical (NASDAQ:TNON), a company focused on sacroiliac joint disorders, has announced a 1:8 reverse stock split effective September 6, 2024. This strategic move aims to increase the per-share market price to meet Nasdaq's minimum $1.00 average closing price requirement for continued listing. The split, approved by stockholders on December 21, 2023, will convert each 8 shares of issued and outstanding common stock into one share. Trading on a split-adjusted basis will commence on September 6, 2024, under the existing symbol TNON. Vstock Transfer, is acting as the exchange agent, managing the process for stockholders with various holding arrangements. No fractional shares will be issued, with all fractions rounded up to the next whole share.
Tenon Medical (NASDAQ:TNON) has published interim results from its MAINSAIL study, evaluating the Catamaran SI Joint Fusion System for treating sacroiliac joint disorders. The study, involving 33 patients across six US clinical sites, showed significant improvements in pain and disability scores at 6 months post-procedure:
- Mean VAS pain scores decreased from 80.9mm to 31.1mm (p0.001)
Additionally, 4 out of 6 patients showed evidence of fusion at 12 months. The Catamaran system, designed for minimally invasive SI joint fixation, has been used in 700 procedures to date. The study is ongoing, with a target enrollment of up to 50 patients and follow-up for up to 24 months.
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.
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.
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.