By Katherine Hamilton
Tenon Medical shares jumped fourfold after the company said it gained clearance from the Food and Drug Administration for a joint-disease treatment.
Shares quadrupled to $3.96 on Tuesday, regaining Tenon's losses since mid-October. The stock is still down 47% over the past 12 months.
The medical device company said Monday the FDA had cleared Catamaran for expanded use in augmenting thoracolumbar fusion. That means Catamaran can now treat the SI joint as either a stand-alone treatment or to augment a spinal fusion.
"This is a significant milestone for Tenon Medical, as this new indication opens the door to a previously untapped market," Chief Technology Officer and co-founder Ricahrd Ginn said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 25, 2025 11:59 ET (15:59 GMT)
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