InspireMD reports positive Q2 results, revenue growth, successful clinical trials, and $17.9 million raise.

From GlobeNewswire: 2024-08-06 08:09:00

InspireMD, Inc. announced positive results from the C-GUARDIANS IDE clinical trial, with the CGuard Prime carotid stent system boasting a one-year primary endpoint event rate of 1.95%, the lowest in any carotid stent pivotal trial. The company raised $17.9 million from the full exercise of Series H warrants due to this news and is on track to submit a Premarket Approval (PMA) application to the FDA. Additionally, they reported a revenue increase of 5.4% in the second quarter of 2024, generating $1.74 million in revenue from the sale of 2,969 CGuard stents. The company has also completed enrollment in the CREST-2 clinical trial and is preparing for the CGUARDIANS II TCAR trial later this year. Further financial details for the second quarter and six months ended June 30, 2024, have been provided, showcasing revenue growth but a decrease in gross profit, mainly due to rising costs. The total operating expenses for the quarter and six months increased due to compensation and development expenses. The net loss for the second quarter of 2024 was $7,909,000 or $0.22 per basic and diluted share, compared to a net loss of $5,077,000 in the same period in 2023. The company will host a conference call today to discuss these findings. InspireMD aims to become an industry standard for carotid stenting with their MicroNet technology. The common stock of InspireMD is listed on the Nasdaq under the ticker symbol NSPR.



Read more at GlobeNewswire:: InspireMD Reports Second Quarter 2024 Financial Results and