India, March 25 -- Shares of Tenon Medical, Inc. (TNON) surged 320% on Tuesday morning after the medical device company announced that the U.S. Food and Drug Administration (FDA) has provided clearance of an expanded indication for the Catamaran SI Joint Fusion System for use in augmenting thoracolumbar fusion.
TNON is currently trading at $4.10, up $3.12 or 319.18%, on a huge volume of 174 million shares, above average volume of 1.2 million shares, on the Nasdaq. The stock opened its trading at $4.29 after closing Monday at $0.98. The stock has traded between $0.91 and $15.79 in the past 52-week period.
With this approval, the Catamaran is now indicated to treat the SI joint as either a stand-alone treatment or to augment a spinal fusion...