Tenon Medical, Inc. TNON shares are moving higher on Tuesday. The company on Monday announced FDA 510(k) clearance for an expanded application of the its Catamaran Sacroiliac Joint Fusion System.

What To Know: Tenon shares are soaring Tuesday morning, trading over 300% higher, following the FDA’s recognition of the system’s potential to augment spinal fusion.

“Recognition from the FDA of Catamaran’s use to augment spinal fusion has been a long-term goal of Tenon during the development of the Catamaran SI Joint Fusion System,” said Steve Foster, CEO of Tenon Medical.

Tenon shares are trading on higher-than-normal session volume at 160.31 million shares. The company’s average session volume over the past 100 days is 1.23 million shares, according to data from Benzinga Pro.

See Also: BlackRock Brings Tokenized Money Market Fund ‘BUIDL’ To Solana

TNON Price Action: At the time of writing, Tenon stock is trading 309% higher at $4.00, per data from Benzinga Pro.

Image: via Shutterstock