24/7 Market News- Tenon Medical Introduces Catamaran SE SI Joint Fusion System and $4.5 Million ATM Public Offering

September 13, 2024

DENVER, Colo., Sep 13, 2024 (247marketnews.com)- Tenon Medical (NASDAQ: TNON) stated that it was preparing the early fourth quarter 2024 initial alpha launch of its new Catamaran SE SI Joint Fusion System, which extends its line of implant offerings for physicians preferring a smaller Catamaran implant when performing a SI joint fusion procedure and offers a 30% reduction in implant width as compared to the original Catamaran fixation device, providing physicians options for smaller SI joint anatomy or revising previously treated SI joints with failed alternative SI joint implants where space is limited.

Bryan Hoelzer, MD, Interventional Pain Physician and Medical Director of Southwest Spine and Pain Center, in Provo, UT., stated, “The clinical evidence validating the safety and efficacy of the inferior-posterior approach to treat SI Joint disease continues to grow with the recent Catamaran MAINSAIL Study publication. Continued advancement in implant technology as seen in the smaller Catamaran SE Fixation Device is exciting and will provide more improved options for myself and, my patients in treating and managing their painful SI joint disorders.”and the entire interventional pain community.”

Steven M. Foster, President and CEO of Tenon Medical, added, “As a leader in the SI joint fusion market it is critical that we continually listen to input from our customers and respond with innovative technology that benefits their patients. The development and introduction of the Catamaran SE SI Joint Fusion System will provide our physician users with more choices to treat their patients with SI Joint disease. We look forward to a successful limited alpha launch and then move rapidly to a full market introduction.”

Tenon Medical reported that it closed a 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,” which the Company expects to receive approximately $4.5 million, less placement agent fees and other offering expenses.

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