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 ( TNON ).

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.

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

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