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Tenon Medical Priced, Nasdaq: TNON

Launching a surgical implant system for sacroiliac joint fusion procedures.

Industry: Health Care

Latest Trade: $1.90 +0.03 (+1.6%)

First Day Return: +350.0%

Return from IPO: -62.6%

Industry: Health Care

Tenon Medical, Inc., a medical device company formed in 2012, has developed a proprietary, FDA cleared surgical implant system, which is designed to optimize sacroiliac joint (SI-Joint) fixation / fusion surgery and corresponding outcomes. Tenon is preparing a national launch of this system to address the greatly underserved market opportunity that exists in this space. We estimate that over 30 million American adults have chronic lower back pain. Published clinical studies have shown that 15% to 30% of all chronic lower back pain is associated with the SI-Joint. For patients whose chronic lower back pain stems from the SI-Joint, our experience in both a clinical trial and commercial settings indicates the system to be introduced by Tenon could be beneficial for patients who are properly diagnosed and screened for surgery by trained healthcare providers. Based on market research and internal estimates, Tenon believes the potential market for surgical intervention of the SI-Joint to be 279,000 procedures annually in the US alone, for a potential annual market in excess of $2.2 billion. These estimates are driven by coding data for SI-Joint injections to treat pain and informed assumptions relative to surgical intervention candidacy.
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IPO News for Tenon Medical
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IPO Data
IPO File Date 11/10/2021
Offer Price $5.00
Price Range $4.50 - $5.50
Offer Shares (mm) 3.2
Deal Size ($mm) $16
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 04/26/2022
Offer Price $5.00
Price Range $4.50 - $5.50
Offer Shares (mm) 3.2
Deal Size ($mm) $16
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters Los Gatos, CA
Founded 2012
Employees 14
Website www.tenonmed.com