Tenon Medical, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023
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Tenon Medical, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.743 million compared to USD 0.135 million a year ago. Net loss was USD 4.29 million compared to USD 5.49 million a year ago. Basic loss per share from continuing operations was USD 3.3 compared to USD 6.5 a year ago.
For the six months, sales was USD 1.18 million compared to USD 0.206 million a year ago. Net loss was USD 9.12 million compared to USD 7.84 million a year ago. Basic loss per share from continuing operations was USD 7.5 compared to USD 16.6 a year ago.
Tenon Medical, Inc. is a medical device company. The Company has developed the Catamaran SI Joint Fusion System that offers a novel, less invasive approach to the SI joint using a single, robust titanium implant. The system features the Catamaran Fixation Device which passes through both the axial and sagittal planes of the ilium and sacrum, stabilizing and transfixing the SI Joint along its longitudinal axis. The angle and trajectory of the Catamaran surgical approach is also designed to provide a pathway away from critical neural and vascular structures and into the strongest cortical bone. The Catamaran System is designed specially to resist vertical shear and rotation of the joint in which it was implanted, helping stabilize the joint in preparation for eventual fusion. The Company has also developed a proprietary two-dimensional (2D) placement protocol as well as a protocol for three-dimensional (3D) navigation utilizing the latest techniques in spine surgery.