What's Going On With Tenon Medical Stock Today?

Tenon Medical Inc TNON shares are trading higher Wednesday after the company announced it's seeking withdrawal of its registration statement because it no longer wishes to conduct a public offering. 

What Happened: On Feb. 8 Tenon Medical filed a Form S1 with the SEC in which it disclosed that it intended to do a public offering. 

According to a new regulatory filing, Tenon is requesting that the SEC withdraw its filing because "it no longer wishes to conduct a public offering of its securities at this time."

The stock was halted multiple times following the announcement and are now surging on abnormally-high volume. Tenon Medical's average session volume over a 100-day period is 38,275, according to Benzinga Pro. Wednesday's session volume has already exceeded 23.5 million at the time of writing.

Tenon Medical is a medical device company known for having developed the Catamaran SI Joint Fusion System that offers a less invasive approach to the SI joint using a single, robust titanium implant. 

See Also: Why TransCode Therapeutics Shares Are Trading Higher Today

TNON Price Action: Tenon has a 52-week high of $59.89 and a 52-week low of 95 cents.

The stock was up 118.4% at $2.16 at the time of publication, according to Benzinga Pro.

Photo: StockSnap from Pixabay.