Tenon Medical
TNON

$5.03

4.19%

Market Cap: $2.57M

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 6,710 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

0% more funds holding

Funds holding: 12 [Q1] → 12 (+0) [Q2]

0% more first-time investments, than exits

New positions opened: 2 | Existing positions closed: 2

7.75% less ownership

Funds ownership: 22.82% [Q1] → 15.07% (-7.75%) [Q2]

35% less capital invested

Capital invested by funds: $536K [Q1] → $347K (-$188K) [Q2]

50% less repeat investments, than reductions

Existing positions increased: 2 | Existing positions reduced: 4

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Research analyst outlook

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

Low target

$24

377%

upside

Avg. target

$24

377%

upside

High target

$24

377%

upside

1 analyst rating

1 positive

100%

0 neutral

0%

0 negative

0%

Benchmark

Bruce Jackson

32% 1-year accuracy

15 / 47 met price target

377%upside

$24

Speculative Buy

Reiterated

14 Aug 2024

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Financial journalist opinion

Based on 9 articles about TNON published over the past 30 days

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

Tenon(R) Medical Announces First Peer Reviewed Publication of the MAINSAIL(TM) Study Analyzing the First 33 Consecutive Patients from an IRB Approved, Prospective, Multi-Centered, Post-Market Clinical Investigation Utilizing the Catamaran(R) SI Joint Fusion System

~ Interim Patient Outcomes Demonstrate Significant Improvements in Pain (VAS) and Disability (ODI), Along with High Patient Satisfaction and Safety Profile at Primary 6-month Analysis ~ ~ Preliminary SI Joint Fusion Results Based on Independent Radiologist Review Indicate Evidence of Fusion at 12-Months Post-Procedure ~ LOS GATOS, CA / ACCESSWIRE / September 4, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain Sacroiliac Joint (SIJ) disorders, today announced the first publication of the Catamaran SI Joint Fusion System® MAINSAIL™ study. This study is an ongoing prospective, single-arm, multi-center, post-market study evaluating clinical and radiographic outcomes of adult patients with sacroiliac joint disruptions or degenerative sacroiliitis treated with the Catamaran SI Joint Fusion System.

Tenon(R) Medical Announces First Peer Reviewed Publication of the MAINSAIL(TM) Study Analyzing the First 33 Consecutive Patients from an IRB Approved, Prospective, Multi-Centered, Post-Market Clinical Investigation Utilizing the Catamaran(R) SI Joint Fusion System

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Each week, Benzinga's Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the surface and deserve attention.

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Tenon Medical Announces 1:8 Reverse Split

LOS GATOS, CA / ACCESSWIRE / September 4, 2024 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced, a 1:8 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 September 6, 2024, prior to the commencement of trading on the Nasdaq Capital Market.

Tenon Medical Announces 1:8 Reverse Split

Tenon(R) Medical Announces First Peer Reviewed Publication of the MAINSAIL(TM) Study Analyzing the First 33 Consecutive Patients from an IRB Approved, Prospective, Multi-Centered, Post-Market Clinical Investigation Utilizing the Catamaran(R) SI Joint Fusion System

~ Interim Patient Outcomes Demonstrate Significant Improvements in Pain (VAS) and Disability (ODI), Along with High Patient Satisfaction and Safety Profile at Primary 6-month Analysis ~ ~ Preliminary SI Joint Fusion Results Based on Independent Radiologist Review Indicate Evidence of Fusion at 12-Months Post-Procedure ~ LOS GATOS, CA / ACCESSWIRE / September 4, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain Sacroiliac Joint (SIJ) disorders, today announced the first publication of the Catamaran SI Joint Fusion System® MAINSAIL™ study. This study is an ongoing prospective, single-arm, multi-center, post-market study evaluating clinical and radiographic outcomes of adult patients with sacroiliac joint disruptions or degenerative sacroiliitis treated with the Catamaran SI Joint Fusion System.

Tenon(R) Medical Announces First Peer Reviewed Publication of the MAINSAIL(TM) Study Analyzing the First 33 Consecutive Patients from an IRB Approved, Prospective, Multi-Centered, Post-Market Clinical Investigation Utilizing the Catamaran(R) SI Joint Fusion System

Tenon Medical Appoints Medical Device Veteran, Kevin Williamson, Chief Financial Officer

LOS GATOS, CA / ACCESSWIRE / August 27, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced it has appointed Kevin Williamson as Chief Financial Officer. Mr. Williamson's appointment succeeds the previously disclosed retirement of Steve Van Dick from the role of Chief Financial Officer.

Tenon Medical Appoints Medical Device Veteran, Kevin Williamson, Chief Financial Officer

Tenon Medical, Inc. (TNON) Q2 2024 Earnings Call Transcript

Tenon Medical, Inc. (NASDAQ:TNON ) Q2 2024 Earnings Conference Call August 13, 2024 4:30 PM ET Company Participants Steven Foster - CEO and President Steven Van Dick - CFO and EVP, Finance and Administration Conference Call Participants Bruce Jackson - The Benchmark Company Anthony Vendetti - Maxim Group Operator Greetings and welcome to the Tenon Medical's Second Quarter 2024 Financial Results and Corporate Update Conference Call. As a reminder, this call is being recorded.

Tenon Medical, Inc. (TNON) Q2 2024 Earnings Call Transcript

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