Following the regulatory approval of multiple patent processes, shares of Tenon Medical, Inc. (NASDAQ: TNON) surged in after-hours trading. TNON stock experience an after-hour rebound of 37.78% to $6.93. That followed the stock closing at $5.03, marking a 4.19% decline during the regular trading session. The surge came after the company announced significant advancements in its intellectual property portfolio.
Issuance of Key Patent Notices to Tenon Medical
Tenon Medical (TNON) revealed that it has been issued with three Notices of Allowance by the United States Patent and Trademark Office (USPTO). These notices were associated with its U.S. Patent Application Numbers 17/469,132 and 17/468,811, both of entitled “Sacroiliac Joint (SIJ) Stabilization Prostheses.”
The other notice is associated with a third patent, 18/612,032, named “Systems, Apparatus, and Methods for Stabilizing Sacroiliac Joints.” In the upcoming ninety days, it is anticipated that these patents will be officially granted.
TNON is Strengthening the SI Joint Prostheses Portfolio
The new patents cover innovations in sacroiliac (SI) joint prostheses. U.S. Patent Applications 17/469,132 and 17/468,811 focus on prostheses that incorporate drug delivery compositions designed to promote bone growth around the implant. Meanwhile, the third patent (18/612,032) is centered on SI joint prostheses with unique configurations to rectify failed SI joint stabilization from previous implants without needing to remove the original implant.
Strategic Intellectual Property Expansion
With the addition of these patents, Tenon Medical is further solidifying its growing intellectual property portfolio. These new patents join the company’s existing collection of nine issued U.S. and international patents and 26 pending patent applications. This portfolio plays a key role in supporting the company’s Catamaran SI Joint Fusion System, a cornerstone of its commercial strategy.
As Tenon Medical continues its aggressive expansion in intellectual property, the company is positioning itself as a leader in the industry by protecting its innovations and securing a competitive edge in the field of minimally invasive SI joint stabilization.