Tenon Medical
TNON
Market cap $7.81M

2.49 USD

-0.22

8.12%

At close Nov 18, 4:00 PM EST

After hours

2.51

+0.02

0.80%

1 day

-8.12%

5 days

-26.33%

1 month

-39.86%

3 months

-29.06%

6 months

-61.09%

Year to date

-79.92%

1 year

-83.96%

5 years

-99.86%

10 years

-99.86%

About: Tenon Medical Inc is a medical device company that has developed a novel, minimally invasive approach to the sacroiliac joint (the SI Joint) using a single, robust, titanium implant for the treatment of the common types of SI Joint disorders that cause lower back pain. The Company is focused on three commercial opportunities: 1) Primary SI Joint procedures, 2) Revision procedures of failed SI Joint implants, and 3) SI Joint fusion adjunct to a spine fusion construct. The company derives the majority of its revenue from sales of The Catamaran System to a limited number of clinicians.

Employees: 21

Healthcare Surgical & Medical Instruments & Apparatus

0

Funds holding %

of 6,704 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

13.05% less ownership

Funds ownership: 15.07% [Q2] → 2.02% (-13.05%) [Q3]

33% less funds holding

Funds holding: 12 [Q2] → 8 (-4) [Q3]

67% less first-time investments, than exits

New positions opened: 2 | Existing positions closed: 6

75% less repeat investments, than reductions

Existing positions increased: 1 | Existing positions reduced: 4

86% less capital invested

Capital invested by funds: $347K [Q2] → $48.5K (-$299K) [Q3]

See Fund Rankings

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

Low target

$8

221%

upside

Avg. target

$8

221%

upside

High target

$8

221%

upside

1 analyst rating

1 positive

100%

0 neutral

0%

0 negative

0%

Maxim Group

Anthony Vendetti

29% 1-year accuracy

4 / 14 met price target

221%upside

$8

Buy

Maintained

15 Nov 2024

See Analyst Rankings

Financial journalist opinion

Based on 5 articles about TNON published over the past 30 days

Tenon Medical, Inc. (TNON) Q3 2024 Earnings Call Transcript

Tenon Medical, Inc. (NASDAQ:TNON ) Q3 2024 Earnings Conference Call November 13, 2024 4:30 PM ET Company Participants Steven Foster - President & CEO Kevin Williamson - CFO Conference Call Participants Anthony Vendetti - Maxim Group Operator Greetings, and welcome to the Tenon Medical Third Quarter 2024 Financial Results and Corporate Update Conference Call. As a reminder, this call is being recorded.

Tenon Medical, Inc. (TNON) Q3 2024 Earnings Call Transcript

Tenon Medical Reports Third Quarter 2024 Financial Results

~ 3Q Revenue of $0.9 Million, Consistent with Prior Quarter; Year to Date Revenue of $2.5 Million, Growth of 18.3% Compared to Prior Year ~ ~ Published Interim Analysis from MAINSAIL™ Study; Post-Market Study Supports the Safety and Efficacy of the Catamaran SI Joint Fusion System® Including Radiographic Proof of Fusion ~ ~ Initial Clinical Procedures Completed with New Catamaran SE Platform ~ ~ Granted Issuance of Three U.S. Patents ~ ~ Received Net Proceeds of ~$9.6 Million from Equity Financing Transactions ~ LOS GATOS, CA / ACCESSWIRE / November 13, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today reported financial results for the third quarter ended September 30, 2024. Third Quarter 2024 and Subsequent Highlights Revenue of $0.9 Million in the third quarter of 2024, a 1.6% decrease over the second quarter of 2024.

Tenon Medical Reports Third Quarter 2024 Financial Results

Tenon Medical Announces Initial Clinical Cases Successfully Completed with Company's New Catamaran(R) SE SI Joint Fusion System

~ Procedures Completed in Various Spine & Pain Centers of Excellence Throughout the Country Including in Idaho, Pennsylvania, Minnesota, Arizona and Utah ~ ~ Feedback From Initial Physician Users to Support Broader Market Introduction~ LOS GATOS, CA / ACCESSWIRE / October 30, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced completion of the initial clinical cases utilizing the Company's new Catamaran SE SI Joint Fixation Device. The new implant offers a 30% reduction in implant width as compared to the original Catamaran Fixation Device, providing physicians with options for smaller SI joint anatomy or revising previously treated SI joints with failed alternative SI joint implants where space is limited.

Tenon Medical Announces Initial Clinical Cases Successfully Completed with Company's New Catamaran(R) SE SI Joint Fusion System

Tenon Medical, Inc. Announces Timing of Third Quarter 2024 Financial Results

LOS GATOS, CA / ACCESSWIRE / October 30, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced plans to release financial results for the third quarter 2024 ended September 30, 2024 after market close on Wednesday, November 13, 2024. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of Third Quarter 2024 Financial Results

Tenon Medical(R) Regains Full Compliance with Nasdaq Continued Listing Requirements

LOS GATOS, CA / ACCESSWIRE / October 28, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced that it is in compliance with all relevant Nasdaq continued listing Rules. The Company had previously reported non compliance with Nasdaq Rules 5605(b)(1), 5605(c)(2) and 5605(d)(2), with respect to the number of independent directors on its board of directors and certain board committees; Nasdaq Rule 5550(a)(2), with respect to its minimum bid price; Nasdaq Rule 5550(a)(4), with respect to number of shares in its public float; and Nasdaq Rule 5550(b), with respect to its stockholders' equity.

Tenon Medical(R) Regains Full Compliance with Nasdaq Continued Listing Requirements

Tenon Medical(R) Announces Issuance of Three U.S. Patents

Further Solidifies International Patent Portfolio and Underscores the Company's Commitment to Innovation of SI Joint Stabilization Systems and Methods LOS GATOS, CA / ACCESSWIRE / October 17, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced the issuance of U.S. Patent Nos. 12,115,075, 12,115,076 and 12,115,077.

Tenon Medical(R) Announces Issuance of Three U.S. Patents

Tenon Medical Announces Issuance of Three Notices of Allowance for Patent Applications from the USPTO

Tenon Now Holds 9 Granted Patents and 26 Pending Applications for the Catamaran® SI Joint Fusion System Worldwide LOS GATOS, CA / ACCESSWIRE / September 19, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced the United States Patent and Trademark Office ("USPTO") issued three (3) Notices of Allowance for U.S. Patent Application Numbers 17,469,132 and 17/468,811, both entitled "Sacroiliac Joint Stabilization Prostheses", and 18/612,032, entitled "Systems, Apparatus and Methods for Stabilizing Sacroiliac Joints". The U.S. patents based on the applications should thus issue within the next ninety (90) days.

Tenon Medical Announces Issuance of Three Notices of Allowance for Patent Applications from the USPTO

Tenon Medical, Inc. Announces Closing of $4.5 Million Public Offering Priced At-The-Market Under Nasdaq Rules

LOS GATOS, CA / ACCESSWIRE / September 17, 2024 / 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 the closing of its previously announced "reasonable best efforts" public offering with a single health-care focused institutional investor for the purchase and sale of 1,222,850 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 1,222,850 shares of common stock at a combined offering price of $3.68 per share and accompanying warrant, priced at-the-market under Nasdaq rules (the "Offering"). The Company received aggregate gross proceeds of approximately $4.5 million, before deducting placement agent fees and other offering expenses.

Tenon Medical, Inc. Announces Closing of $4.5 Million Public Offering Priced At-The-Market Under Nasdaq Rules

Tenon Medical, Inc. Announces Pricing of $4.5 Million Public Offering Priced At-The-Market Under Nasdaq Rules

LOS GATOS, CA / ACCESSWIRE / September 12, 2024 / 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 the pricing of its "reasonable best efforts" public offering with a single health-care focused institutional investor for the purchase and sale of up to 1,222,850 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 1,222,850 shares of common stock at a combined offering price of $3.68 per share and accompanying warrant, priced at-the-market under Nasdaq rules (the "Offering"). The Company expects to receive aggregate gross proceeds of approximately $4.5 million, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants.

Tenon Medical, Inc. Announces Pricing of $4.5 Million Public Offering Priced At-The-Market Under Nasdaq Rules

Tenon(R) Medical Announces the Introduction of the Catamaran(R) SE SI Joint Fusion System

~ New SI Joint Fixation Device Offers a 30% Reduction in Implant Size Providing Physicians Choices for Varying Anatomy and Treatment Strategies with the Catamaran Technology ~ ~ The SE System Can Also Be Utilized with a Manual Drilling Option During Implant Preparation~ LOS GATOS, CA / ACCESSWIRE / September 12, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced preparation for the initial alpha launch of the Company's new Catamaran SE SI Joint Fusion System targeted for the beginning of Q4. The Catamaran SE Fixation Device extends the line of implant offerings for physicians preferring a smaller Catamaran implant when performing a SI joint fusion procedure.

Tenon(R) Medical Announces the Introduction of the Catamaran(R) SE SI Joint Fusion System

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