Futu News reported on September 20th that the medical device company $Tenon Medical (TNON.US)$ Today, it rose significantly before the market opened. As of press time, the stock is up 37.57%, at $6.92, with pre-market trading volume reaching $5.1624 million, and it briefly rose more than 85% before the market opened.

In terms of news, the company announced yesterday that it has received a notice of permission for three patent applications from the United States Patent and Trademark Office (USPTO).

Among them, the US patent application numbers 17/469,132 and 17/468,811 involve a sacroiliac joint prosthesis, which includes a unique drug delivery combination that helps promote bone growth in the peripheral and internal areas after the prosthesis is implanted in the sacroiliac joint; the US patent application number 18/612,032 involves a sacroiliac joint prosthesis with a unique design. It can repair the problem of sacroiliac joint stability failure without removing the failed implant and allows the use of other commercial sacroiliac joint implants.

When these three US patents are authorized, they will further enhance the company's patent portfolio. The portfolio supports its Catamaran® SI joint implant system, which currently includes nine authorized US and international patents and twenty-six US and international patents pending.

Richard Ginn, co-founder and Chief Technology Officer of Tenon Medical, said,

"The protection of intellectual property rights for the key technologies, processes, and equipment of the Catamaran® SI joint fusion system is core to our growth strategy. As we advance commercialization, we are delighted to once again receive the support and authorization of three new patents from the United States Patent and Trademark Office. We continue to actively expand our intellectual property portfolio, adding multiple patents and applications, including three pending patents and recently submitted three patent applications in the United States. These efforts further strengthen our international patent portfolio, protect our technology platform, enhance our industry competitiveness, and demonstrate our commitment to innovation in advancing sacroiliac joint minimally invasive methods."

In addition, on September 17th, the company announced the completion of a $4.5 million stock public offering at market price in accordance with Nasdaq rules.

About the company

Tenon Medical Inc is a medical instruments company that has developed a novel, minimally invasive method for treating sacroiliac (SI) joint using a robust titanium implant for common SI joint diseases causing lower back pain.