Healthcare Stock Bid Up Before Opening Bell

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Wednesday, March 13, 2024

A California-based healthcare company is already turning heads during Wednesday’s premarket hours following the company’s reported Q4 and FY 2023 financial results following yesterday’s close.

A few of the highlights included a 192% year-on-year increase in revenue and full year revenue of $2.9 million in 2023, a 324% increase over 2022 as well as its gross profit increased to $1.2 million, compared to a gross loss of ($641,000) in the full year of 2022.

Shares of Tenon Medical Inc. (Nasdaq:TNON) are currently being bid up by traders as we head toward the opening bell, with the current bid at $1.63/share (+12.41% implied open for sellers) at the time of writing. It should be an exciting session for this micro cap!

Tenon Medical, Inc., a medical device company formed in 2012, has developed The Catamaran® SI Joint Fusion System that offers a novel, less invasive approach to the SI joint using a single, robust titanium implant. The system features the Catamaran® Fixation Device which passes through both the axial and sagittal planes of the ilium and sacrum, stabilizing and transfixing the SI Joint along its longitudinal axis. The angle and trajectory of the Catamaran surgical approach is also designed to provide a pathway away from critical neural and vascular structures and into the strongest cortical bone. Since the national launch of the Catamaran SI Joint Fusion System in October 2022 Tenon is focused on three commercial opportunities with its System in the SI Joint market which includes: 1) Primary SI Joint procedures, 2) Revision procedures of failed SI Joint implants and 3) SI Joint fusion adjunct to a spine fusion construct.

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