Monday, September 27, 2021

InspireMD, Inc. (NSPR) Stock Trends Upwards After a Troubling 2020

Up 0.38% as of market close on April 14th, 2021, InspireMD, Inc. (NSPR) sat at USD$0.5538. This came hot on the heels of news of a 1-for-15 reverse split of NSPR’s common stock. This change will come into effect on April 26th, 2021, and will result in a reduced number of outstanding shares of its common stock.


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InspireMD Public Offering

Early February of 2021 saw the closing of its public offering of USD$20.7 million. Initially, the offering was for gross proceeds of USD$18 million, with an option for underwriters to exercise that would net NSPR USD$20.7 million. The offering was comprised of 2,9032,258 units, listed for a price of USD$0.62 per unit. NSPR stock prices saw a significant surge following this news.

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Further developments that have the potential to bolster NSPR’s outlook include the inclusion of highly renowned interventional cardiologist Gary Roubin M.D., Ph.D., to the Board of Directors. Chris Metzger, M.D., was also appointed as the primary investigator for the upcoming FDA registration trial for NSPR’s flagship product CGuard EPS. Furthermore, CGuard Carotid Stent System clinical trials in the US were announced to be conducted by a leading Contract Research Organisation (CRO), Hart Clinical Consultants (HCC).

Bleak 2020 Financials

Revenues in the three-month period ending December 31st, 2020 saw a devastating 84.4% drop in revenue from the same period of the previous year. Besides the effects of the pandemic curtailing financial growth, NSPR also had to settle litigation with a former distributor in regard to a 2014 transaction. This negatively impacted 2020 financials for the company, with the one-time occurrence seeing NSPR charging USD$580,000 against their sales as per US GAAP.

What’s Next for NSPR?

Despite a rocky 2020, NSPR is highly confident for the future. They are in a stable financial position following their IPOs over the last year and have enlisted various expert entities to help facilitate the FDA approval of CGuard EPS. How these translate into the sustained increased value of NSPR stock is yet to be seen.

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