RA'ANANA, Israel - Inspira Technologies OXY B.H.N. Ltd. (NASDAQ:IINN), a medical technology company, has announced its strategy to capture a portion of the mechanical ventilation market, following the recent FDA clearance of its INSPIRA ART100 device.
The company's President, Joe Hayon, shared this business plan during a conference call, emphasizing the deployment of the ART100 as a stepping stone to the next-generation INSPIRA ART (Gen 2) technology.
The ART100, a cardiopulmonary support system, is set to be distributed in the U.S. through Glo-Med Networks, Inc., with the first shipment expected in Q4 2024. This device represents the company's initial foray into the mechanical ventilation space, which is projected to reach $19 billion by 2030.
Inspira's ART (Gen 2) device is currently in development and aims to revolutionize oxygenation technology by allowing direct blood oxygenation while the patient remains awake, potentially reducing the need for traditional mechanical ventilation that requires intubation.
The company's roadmap includes the integration of its HYLA blood sensor into the ART100 system, which is on track for FDA submission. Additionally, Inspira is advancing through phase 2 and phase 3 testing for its VORTX blood delivery system and HYLA blood sensor, respectively.
Inspira Technologies has clarified that while the ART100 has received FDA clearance, its other products, including the INSPIRA ART (Gen 2) and HYLA blood sensor, are still awaiting regulatory approval.
The information in this article is based on a press release statement from Inspira Technologies. The company's forward-looking statements reflect the management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.
In other recent news, Inspira Technologies has made significant strides in its operations. The company has secured an initial purchase order from Glo-Med Networks for five INSPIRA™ ART100 systems, marking its entry into the mechanical ventilator market. The FDA has cleared the INSPIRA™ ART100, a Cardiopulmonary Bypass System, further solidifying the company's presence in the medical technology space.
Inspira has also initiated the production of the ART100 device, developed for respiratory treatment. Furthermore, the company has partnered with Beilinson Hospital in Israel to evaluate the potential application of the INSPIRA ART100 device in organ transplant procedures.
Additionally, Inspira secured a direct share offering resulting in expected proceeds of $1.65 million, earmarked for working capital and general corporate purposes. In collaboration with Ennocure MedTech Ltd., Inspira reported promising in vitro results of a new bio-electronic treatment aimed at preventing bloodstream infections. These developments reflect recent advancements in Inspira's technological contributions to the medical field.
InvestingPro Insights
As Inspira Technologies OXY B.H.N. Ltd. (NASDAQ:IINN) gears up to enter the mechanical ventilation market with its FDA-cleared INSPIRA ART100 device, investors are closely watching the company's financial health and market performance. Here are some key metrics and tips from InvestingPro that provide a deeper understanding of the company's current position:
- InvestingPro Data shows that Inspira Technologies holds a market capitalization of $28.19 million, which is crucial for investors to understand the company's size and market value in relation to its peers in the medical technology sector.
- The company's Price / Book ratio, as of the last twelve months ending Q4 2023, stands at 4.91. This ratio can help investors assess whether the stock is valued fairly in relation to the company’s assets.
- Despite the optimism surrounding its product pipeline, Inspira Technologies has not been profitable over the last twelve months, with a reported Return on Assets of -88.6%, indicating challenges in generating profits from its assets.
Moreover, InvestingPro Tips suggest caution due to several factors:
- While Inspira Technologies holds more cash than debt on its balance sheet, it is also quickly burning through cash, which could impact its operations and growth plans if not managed effectively.
- The company's stock has experienced significant volatility, with a large price uptick over the last six months, yet it has taken a big hit over the last week and fared poorly over the last month, reflecting the stock's sensitivity to market fluctuations.
For investors seeking a more comprehensive analysis, there are 10 additional InvestingPro Tips available for Inspira Technologies, which can be accessed at InvestingPro. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24.
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