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) announced its participation in Benzinga's All Access investor event on September 16, 2022. CEO Steve Foster will present and host a Q&A session at 10:00 a.m. Eastern time, aiming to discuss the company’s FDA-cleared surgical implant system for sacroiliac joint fixation/fusion surgery. This event provides a platform to highlight Tenon's upcoming national launch, targeting a significant opportunity in a currently underserved market.
Tenon Medical (NASDAQ:TNON) announced its participation in upcoming virtual conferences, including the H.C. Wainwright 24th Annual Global Investment Conference from September 12-14, 2022, and the A.G.P.'s Virtual MedTech Conference on September 21, 2022. CEO Steve Foster and CFO Steven Van Dick will be available for one-on-one meetings. Tenon Medical specializes in a proprietary, FDA-cleared surgical implant system aimed at optimizing SI Joint fixation/fusion surgery, with plans for a national launch to address market needs.
Tenon Medical (NASDAQ:TNON) reported a 514% year-over-year revenue increase in Q2 2022, reaching $135,000, driven by a 433% rise in surgical procedures utilizing its Catamaran™ SI Joint Fusion System. Despite increased revenue, the company faced a gross loss of $136,000 due to higher operational overhead, shifting from a gross profit of $13,000 a year prior. Operating losses expanded to $5.5 million. The company ended Q2 with $16 million in cash and investments, supporting ongoing growth and commercialization efforts, including 21 physician workshops held to promote their innovative solutions.
Tenon Medical, a medical device company, closed a $16 million IPO on April 29, 2022, and began trading on Nasdaq under the ticker TNON. For Q1 2022, the company reported revenue of $71,000, a 373% increase from Q1 2021, driven by an 80% rise in surgical procedures using the CATAMARAN SIJ Fusion System. However, gross loss increased to $(204,000), and operating losses reached $2.1 million, up from $189,000 in the previous year. The company holds $4.7 million in cash to fund growth initiatives.
Tenon Medical has successfully closed its initial public offering, selling 3.2 million shares of common stock at $5.00 per share, totaling $16.0 million in gross proceeds. The IPO was facilitated by The Benchmark Company, LLC and Valuable Capital Limited as underwriters. The stock now trades on the Nasdaq Capital Market under the ticker TNON. Proceeds from the offering are expected to support Tenon's national launch of its proprietary surgical implant system for sacroiliac joint fixation, targeting a significant market opportunity.