Tenon Medical Inc

TENON Medical, Inc. is a medical device company, which is designed to optimize sacroiliac joint fixation / fusion surgery and corresponding outcomes. The firm is preparing a national launch of this system to address the greatly underserved market opportunity that exists in this space. The company was founded on June 19, 2012 and is headquartered in Los Gatos, CA.

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Tenon Medical reports robust Q1 performance amidst profitability challenges

Tenon Medical Inc delivered strong financial and clinical results in Q1 2024, driven by revenue growth and positive clinical study outcomes for the Catamaran System.
While facing challenges in profitability and operating losses, the company's solid financial position, innovative product portfolio, and strategic focus on market expansion present opportunities for future growth.
To capitalize on its strengths and opportunities, Tenon Medical must address cost management, profitability concerns, and maintain a competitive edge in the market through innovation and strategic investments.

Tenon Medical Inc reports revenue growth and innovation focus in Q2 2024

Tenon Medical Inc's Q2 2024 performance reflects revenue growth and improved gross profit margins, underpinned by a strong focus on innovation and market expansion.
While facing challenges in managing operating expenses and achieving profitability, the company's financial position remains stable with no debt.
Opportunities lie in leveraging upcoming study results, expanding market presence, and optimizing operational efficiency to drive future growth and financial success.

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Tenon Medical, Inc. is a medical device company, which engages in the development of a minimally invasive approach to the sacroiliac joint (SI joint) using a single titanium implant for treatment of the most common types of SI Joint disorders. The company was founded by Richard Ferrari and Richard Ginn on June 19, 2012 and is headquartered in Los Gatos, CA.

~ Raises Approximately $2.6 Million in Gross Proceeds ~ ~ Retires $1.25 Million in Secured Debt ~ LOS GATOS, CA / ACCESSWIRE / February 21, 2024 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced the closing of a private placement of 172,239 shares of the Company's Series A Preferred Stock (the "Preferred Stock") and 258,374 warrants to purchase the Company's common stock at an exercise price of $1.27 per share at a combined offering price of $15.125 per share of Preferred Stock, for total gross proceeds of approximately $2.6 million. The Company will utilize the proceeds for growth investments, working capital and general corporate purposes.

Tenon Medical, Inc. Raises Approximately $2.6 Million in Series A Preferred Stock

Meeting adjourned to Tuesday, January 30, 2024, at 1:30pm Pacific Time LOS GATOS, CA / ACCESSWIRE / January 8, 2024 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that the January 8, 2024 Special Meeting of Stockholders was adjourned to January 30, 2024 at 1:30pm Pacific Time to provide additional time to obtain stockholders' votes on Proposal 2, approval of an amendment of the Certificate of Incorporation. For additional information, please refer to the proxy statement previously filed by the Company with the Securities and Exchange Commission ("SEC") on November 22, 2023.

Tenon Medical, Inc. Announces Second Adjournment of Special Meeting of Stockholders

Meeting adjourned to Monday, January 8, 2024 at 1:30pm Pacific Time LOS GATOS, CA / ACCESSWIRE / December 22, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that the December 21, 2023 Special Meeting of Stockholders was adjourned to January 8, 2024 at 1:30pm Pacific Time to provide additional time to obtain stockholders' votes on Proposal 2, approval of an amendment of the Certificate of Incorporation. For additional information, please refer to the proxy statement previously filed by the Company with the Securities and Exchange Commission ("SEC") on November 22, 2023.

Tenon Medical, Inc. Announces Adjournment of Special Meeting of Stockholders

~ Training Programs Led by Dr. Matthew Davies from Duluth, MN and Included Simulated Catamaran Procedure ~ ~ Reached Approximately 60 Health Care Providers Between the Two Catamaran Training Sessions ~ LOS GATOS, CA / ACCESSWIRE / December 20, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced participation in two recent immersive physician webinar training programs featuring the Company's Catamaran SI Joint Fusion System. Dr. Matthew Davies, from Orthopedic Associates of Duluth in MN led the training programs discussing his clinical experience with the system in over 50 Catamaran procedures as well as providing a demonstration of the simple inferior-posterior implantation technique of this unique transfixing SI joint implant.

Tenon Medical Announces Participation in Two Key Immersive Webinar Physician Training Programs Featuring the Company's Catamaran(R) SI Joint Fusion System

~ Provides Additional Liquidity to Augment Commercialization of Tenon's SI Joint Fusion Devices ~ LOS GATOS, CA / ACCESSWIRE / November 21, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that it issued $1.25 million in Secured Notes due November 21, 2024 (the "Notes") and warrants to purchase 45,000 shares of the Company's common stock (the "Warrants"), in a private placement led by veteran early stage medical technology and health tech investor Steve Hochberg, Partner of Ascent Special Ventures ("Ascent"). The Notes accrue interest at 10% per annum and are prepayable at any time by the Company.

Tenon Medical Announces Closing of $1.25 Million Secured Note Financing

~ Revenue Increased 354% Year-Over-Year to $944,000 ~ ~ Gross Profit Margin of 57% an Increase of 31 Basis Points Sequentially ~ ~ Surgical Procedures Increased 329% in the Third Quarter ~ ~ Concluded the Quarter with the Surgical Launch of the JIB Instrument Kit for the Catamaran® SI Joint Fusion System ~ LOS GATOS, CA / ACCESSWIRE / November 14, 2023 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company transforming care for patients suffering with certain sacroiliac disorders, today reported financial results for the third quarter ended September 30, 2023. Third Quarter 2023 and Subsequent Highlights Revenue of $944,000, a 354% increase over the prior year quarter, and up 27% on a sequential basis compared to Q2 2023.

Tenon Medical Reports Third Quarter 2023 Financial Results

~ No Observations, No Objectionable Conditions and No Form 483 Issued ~ LOS GATOS, CA / ACCESSWIRE / November 3, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, announced today, the US Food and Drug Administration (FDA) concluded a full Quality System Inspection Technique (QSIT) Level 2 Inspection at Tenon Medical. The QSIT inspection, used to assess a medical device manufacturer's compliance with the Quality System Requirements (QSR) and related regulations, guides the FDA investigators in performing an efficient and effective inspection, focusing on all key elements of a firm's Quality Management System.

Tenon Medical Passes FDA Level 2 Inspection

LOS GATOS, CA / ACCESSWIRE / November 2, 2023 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced plans to release financial results for the third quarter 2023 ended September 30, 2023 after market close on Tuesday, November 14, 2023. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of Third Quarter 2023 Financial Results

LOS GATOS, CA / ACCESSWIRE / November 1, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced, a 1:10 reverse stock split of the Company's issued and outstanding common stock. The reverse stock split will become effective at 12:01, Eastern Time, on November 2, 2023, prior to the commencement of trading on the Nasdaq Capital Market.

Tenon Medical Announces 1:10 Reverse Split

Mark H. Stouffer, MD and team from Zion Surgery Center successfully perform multiple Catamaran cases with JIB Instrument Kit in St George, UT The JIB Kit is a next generation instrument set utilized to implant the Company's Catamaran Fixation Device during a SI Joint fusion procedure LOS GATOS, CA / ACCESSWIRE / September 13, 2023 / Tenon Medical®, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced the expanded use of the Company's new JIB instrument kit to targeted physicians and centers as the introductory launch progresses. Utilizing the new JIB kit, Mark H.

Tenon Medical(R) Announces Expanded Physician Use of New JIB Instrument Kit for Company's Catamaran(R) SI Joint Fusion System

LOS GATOS, CA / ACCESSWIRE / September 12, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that it has withdrawn its proposed public offering of shares of its common stock. Steven Foster, Chief Executive Officer of Tenon, commented "In the interest of achieving the best value for our stockholders, we made the decision to withdraw our recently announced public offering of common stock.

Tenon Medical Announces Withdrawal of Public Offering of Common Stock

Tenon Medical (NASDAQ: TNON ) stock is falling on Monday after the surgical implant company announced a proposed public offering for its shares. Tenon Medical announced the proposed public stock offering for TNON shares after markets closed on Friday.

Why Is Tenon Medical (TNON) Stock Down 30% Today?

Tenon Medical Announces Proposed Public Offering of Common Stock LOS GATOS, CA / ACCESSWIRE / September 8, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that it has commenced a public offering of shares of its common stock (the "Offering"). All of the shares of common stock are being offered by Tenon.

Tenon Medical Announces Proposed Public Offering of Common Stock

Surgical Procedures Increase 469% Revenue Increased 450% Year-Over-Year to $743,000 Achieved Positive Gross Profit LOS GATOS, CA / ACCESSWIRE / August 8, 2023 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company that has developed transformative care for patients suffering with certain sacroiliac disorders, today reported financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights Revenue of $743,000, a 450% increase over the prior year quarter, and up 72% on a sequential basis compared to Q1 2023.

Tenon Medical Reports Second Quarter 2023 Financial Results

LOS GATOS, CA / ACCESSWIRE / July 25, 2023 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac disorders, today announced plans to release financial results for the second quarter 2023 ended June 30, 2023 after market close on Tuesday, August 8, 2023. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of Second Quarter 2023 Financial Results

LOS GATOS, CA / ACCESSWIRE / June 16, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced the closing of its public offering of 10,000,000 units, with each unit consisting of one share of common stock and two warrants, each warrant to purchase one share of common stock. Each unit was sold at a public offering price of $0.56.

Tenon Medical Announces Closing of $5.6 Million Public Offering

LOS GATOS, CA / ACCESSWIRE / June 14, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders,today announced the pricing of its public offering of 10,000,000 units, with each unit consisting of one share of common stock and two warrants, each warrant to purchase one share of common stock. Each unit is being sold at a public offering price of $0.56.

Tenon Medical Announces Pricing of $5.6 Million Public Offering

Tenon Medical, Inc. to Participate in the Virtual Benchmark Healthcare House Call Conference on May 23, 2023 LOS GATOS, CA / ACCESSWIRE / May 17, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac disorders, today announced the Company will participate in The Benchmark Company Healthcare House Call Virtual 1x1 Investor Conference on Tuesday, May 23, 2023. Steven Foster, Tenon Chief Executive Officer and President, and Steven Van Dick, Tenon Chief Financial Officer, will attend and will be available for virtual one-on-one and small group meetings.

Tenon Medical, Inc. to Participate in the Virtual Benchmark Healthcare House Call Conference on May 23, 2023

~ Surgical Procedures Increase 489% for the Quarter ~ ~ First Quarter 2023 Revenue Increased 510% Year-Over-Year ~ ~ Significant Improvement in Gross Margin, Provides Gross Margin Guidance for 2Q 2023 ~ LOS GATOS, CA / ACCESSWIRE / May 9, 2023 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company that has transformative care for patients suffering with certain sacroiliac disorders, today reported financial results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights Revenue of $433,000 in the first quarter of 2023, a 510% increase over the prior year quarter, and up 56% on a sequential basis compared to the fourth quarter 2022 34 physicians have completed a Catamaran workshop during Q1 2023 CMS final rule effective January 1, 2023, for code 27279 increases 2023 Medicare facility fee by approximately 26% for SI joint fusion procedures performed in ASCs and 33% for these procedures done in hospital outpatient settings "The first quarter of 2023 was highlighted by ongoing revenue growth from a significant increase in surgical procedures in which the Catamaran System was used," said Steve Foster, CEO and President of Tenon Medical.

Tenon Medical, Inc. Reports First Quarter 2023 Financial Results

LOS GATOS, CA / ACCESSWIRE / April 25, 2023 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac disorders, today announced plans to release financial results for the first quarter 2023 ended March 31, 2023 after market close on Tuesday, May 9, 2023. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of First Quarter 2023 Financial Results

~ Company Concludes First Year as Public Company, Surgical Procedures Increase 386% for the Quarter and 361% for the Full Year ~ ~ Fourth Quarter 2022 Revenue Increased 423% Year-Over-Year ~ ~ Full Year 2022 Revenue Increased 332% Year-Over-Year ~ LOS GATOS, CA / ACCESSWIRE / March 9, 2023 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company that has transformative care for patients suffering with certain sacroiliac disorders, today reported financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter & Full Year 2022 Highlights Revenue of $277,000 in the fourth quarter of 2022, a 423% increase over the prior year quarter, and up 33% on a sequential basis compared to the third quarter 2022 Revenue of $691,000 in 2022, a 332% increase from the full year 2021 During the year 1 US patent and 1 foreign patent were issued and the company submitted 13 US patent applications, significantly expanding our SI joint fixation intellectual property portfolio 78 physicians have completed a Catamaran workshop as of December 31, 2022 National launch of the Catamaran™ SI Joint Fusion System ("Catamaran") at the North American Spine Society (NASS) meeting (Chicago, IL), October 12-15, 2022, with a technical exhibit, interactive surgeon training sessions, and outcomes from a single center experience with Catamaran presented at an Innovative Technology Session Successful treatment of first patient in the strategic post market clinical study with Catamaran™ SI Joint Fusion System at Zion Surgery Center Modified our National Distribution arrangement allowing accelerated commercial scale with development of Tenon Medical commercial infrastructure and sales management to support top line growth CMS final rule effective January 1, 2023 for code 27279 increases 2023 Medicare facility fee by approximately 26% for SI joint fusion procedures performed in ASCs and 33% for these procedures done in hospital outpatient settings Closed $16 Million Initial Public Offering ("IPO") on April 29, 2022 and commenced trading on the Nasdaq Capital Markets "2022 was a transformative year for Tenon, with multiple milestones along our commercialization path for both our Company and the Catamaran System," said Steve Foster, CEO and President of Tenon Medical.

Tenon Medical, Inc. Reports Fourth Quarter and Full Year 2022 Financial Results

Tenon Medical, Inc. Announces Timing of Fourth Quarter and Full Year 2022 Financial Results LOS GATOS, CA / ACCESSWIRE / March 1, 2023 / Tenon Medical, Inc. ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac disorders, today announced plans to release financial results for the fourth quarter and full year 2022 ended December 31, 2022 after market close on Thursday, March 9, 2023. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of Fourth Quarter and Full Year 2022 Financial Results

Tenon Medical (NASDAQ: TNON ) stock is taking off on Wednesday morning despite a lack of news from the medical device company. Instead, it looks like heavy trading is behind the rally of TNON stock today.

Why Is Tenon Medical (TNON) Stock Up 70% Today?

Mark H. Stouffer, MD and team from Zion Surgery Center perform first case in St George, UT. This clinical study will assess patient pain scores, fusion as well as other patient reported outcomes out to 24 months LOS GATOS, CA / ACCESSWIRE / November 15, 2022 / Tennon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced completion of the first patient treated in the Company's Catamaran SI Joint Fusion System clinical study.

Tenon Medical Announces Treatment of First Patient in Strategic Post Market Clinical Study with Company's Catamaran(TM) SI Joint Fusion System

~ Revenue up 197% year-over-year ~ ~ Subsequent to Quarter End, National Launch of the Catamaran ™ SI Joint Fusion System at NASS ~ LOS GATOS, CA / ACCESSWIRE / November 10, 2022 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company transforming care for patients suffering with certain sacroiliac disorders, today reported financial results for the third quarter ended September 30, 2022. Recent Highlights National launch of the Catamaran™ SI Joint Fusion System (the "Catamaran") at the North American Spine Society (NASS) meeting (Chicago, IL), October 12-15, 2022, with a technical exhibit, interactive surgeon training sessions, and outcomes from a single center experience with the Catamaran presented at an Innovative Technology Session Received Institutional Review Board ("IRB") approval from WCG IRB for two separate Tenon-sponsored post market clinical studies of Catamaran which allows designated Catamaran study centers to begin recruiting and enrolling patients into the respective studies Modified our National Distribution arrangement allowing accelerated commercial scale with the development of Tenon Medical commercial infrastructure and sales management to support top line growth 100 surgical procedures utilizing Catamaran completed in the pre-launch phase 71 physicians have completed a Catamaran workshop as of November 1, 2022 Revenue of $208,000 in the third quarter of 2022, an 197% increase from the same period in 2021, and a 54% increase on a sequential basis compared to the second quarter 2022 Recently released CMS final rule for code 27279 increases 2023 Medicare facility fee by approximately 26% for SI joint fusion procedures performed in ASCs and 33% for these procedures done in hospital outpatient settings "We had multiple significant advancements for Catamaran in the third quarter to move us along our commercialization pathway," said Steve Foster, CEO and President of Tenon Medical.

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