LOS GATOS, CA - Tenon Medical, Inc. (NASDAQ:TNON), known for its innovative solutions for sacroiliac joint disorders, announced the appointment of Kristine Jacques as an independent member of its Board of Directors, effective as of Saturday. This addition expands the board to seven members, with a majority of four independent directors.
Kristine Jacques, with a career spanning over 35 years, brings a wealth of experience from her executive roles in the medical devices industry. Her expertise in global commercialization, marketing, and product management is expected to be a significant asset to Tenon Medical.
Jacques's recent role as Vice President & GM at Vivex Biologics, Inc. saw her leading the market introduction of new technology in the interventional spine market. Her previous senior management positions at Alphatec Spine, Inc. (NASDAQ:ATEC), General Electric Corporation (NYSE:GE), and Smith and Nephew, PLC (NYSE:SNN) have equipped her with extensive knowledge and skills relevant to Tenon's operations.
The Chairman of Tenon's Board of Directors, Richard Ferrari (NYSE:RACE), expressed enthusiasm for Jacques's appointment, highlighting her experience with spinal-related technologies and strategic commercialization as valuable to advancing Tenon's Catamaran System and other sacroiliac (SI) technologies.
Jacques herself is eager to contribute to Tenon's strategic growth, especially in light of the recent favorable clinical study results for the Catamaran SI technology. She aims to guide the further commercialization of Tenon's SI technologies, which are designed to provide relief for chronic SI joint pain.
Tenon Medical has been focusing on the SI joint market since the national launch of its Catamaran SI Joint Fusion System in October 2022. The system offers a novel, less invasive approach using a single titanium implant and is designed to avoid critical neural and vascular structures while providing strong fixation.
This news article is based on a press release statement.
InvestingPro Insights
Amidst the strategic board appointment and the national launch of Tenon Medical's Catamaran SI Joint Fusion System, the company's financial health and stock performance provide an additional lens through which investors can gauge its prospects. According to InvestingPro metrics, Tenon Medical has a notably high Revenue Growth rate over the last twelve months as of Q4 2023, at 323.73%. This impressive growth indicates a strong market reception for its products and could signal a positive trajectory for the company's sales.
However, the financial data also reveals challenges. The company's Operating Income Margin for the same period stands at a concerning -537.12%, reflecting significant operating costs relative to its revenue. Additionally, the 1 Year Price Total Return as of the recent date shows a steep decline of -94.83%, suggesting that investor confidence may have been shaken, possibly due to the broader market trends or company-specific events.
Two InvestingPro Tips that are particularly relevant for Tenon Medical investors are: the company holds more cash than debt on its balance sheet, which could provide some financial flexibility in its operations; and the analysts' projection that the company will not be profitable this year. These insights could be vital for investors considering the company's potential for growth against the backdrop of its current financial standing.
For those looking to delve deeper into Tenon Medical's financials and stock performance, more InvestingPro Tips are available at InvestingPro. Subscribers can access these additional tips, which may further inform investment decisions. To enhance the value of your InvestingPro subscription, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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