What's Going On With Tenon Medical Stock Tuesday?

Tenon Medical, Inc. TNON shares are trading higher on Tuesday after the company announced it received approval by the European Patent Office for two additional patents directed at its new Catamaran Sacroiliac Joint Fixation Device.

“The Tenon Medical team is pleased to receive recognition from the European Community for our novel Catamaran SI joint prostheses,” said Richard Ginn, Co-Founder and Chief Technology Officer of Tenon Medical.

“Receiving notification of approval for two additional patents by the European patent office reinforces Tenon’s increasingly robust patent position worldwide as well as our commitment to continued innovation.”

What Else: Tenon is expected to release fourth-quarter earnings on March 20 after the market closes. Analysts estimate a loss of $2.54 per share and revenue of $1.45 million, per data from Benzinga Pro.

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TNON Price Action: At the time of publication, Tenon shares are trading 33.6% higher at $1.67, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.