InspireMD Provides Corporate Update for Shareholders
19 Abril 2021 - 5:00AM
InspireMD, Inc. (NYSE American: NSPR, NSPR.WS, NSPR.WSB), developer
of the CGuard™ Embolic Prevention System (EPS) for the prevention
of stroke caused by the treatment of Carotid Artery Disease (CAD),
today provided an update of recent corporate developments.
- Shareholders approved a 1:15
reverse stock split, reducing the number of outstanding shares from
118 million to 7.9 million shares, which will take effect following
the close of trading on April 26, 2021
- Today, the Company submitted its
application to join the Nasdaq Capital Market, which the Company
views as more attractive to a broader range of investors than its
current listing
InspireMD CEO Marvin Slosman commented, “The
fundamentals of our business remain sound and consistent and, as
previously noted, our execution against our milestones continues to
progress well. Following our previously announced oversubscribed
capital raise of $20.7M we are securely positioned to conduct our
C-Guardian FDA clinical trial while maintaining sufficient
operating capital to meet our commercial expansion and product
development goals, while establishing CGuard EPS as the most
advanced carotid stent system in the market. Our business model,
superior technology platform harnessed by our proprietary MicroNet
embolic protection system and timing of the growth in carotid
stenting have laid the foundation necessary for CGuard EPS to
become a market leader in the prevention of stroke caused by
carotid artery disease. We believe that moving to the Nasdaq
Capital Market is a strategically sound approach that places us in
the company of our peers and allows for improved visibility in the
market. InspireMD is fundamentally a stronger company today than
ever before, and I am proud of the extraordinary efforts of our
expanding team in creating an exciting future for our company.”
About InspireMD, Inc.
InspireMD seeks to utilize its proprietary
MicroNet® technology to make its products the industry standard for
carotid stenting by providing outstanding acute results and
durable, stroke-free, long-term outcomes.
InspireMD’s common stock is quoted on the NYSE
American under the ticker symbol NSPR and certain of its warrants
are quoted on the NYSE American under the ticker symbol NSPR.WS and
NSPR.WSB.
Forward-looking Statements
This press release contains “forward-looking
statements.” Such statements may be preceded by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Forward-looking statements are not
guarantees of future performance, are based on certain assumptions
and are subject to various known and unknown risks and
uncertainties, many of which are beyond the Company’s control, and
cannot be predicted or quantified and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
without limitation, risks and uncertainties associated with (i)
market acceptance of our existing and new products, (ii) negative
clinical trial results or lengthy product delays in key markets,
(iii) an inability to secure regulatory approvals for the sale of
our products, (iv) intense competition in the medical device
industry from much larger, multinational companies, (v) product
liability claims, (vi) product malfunctions, (vii) our limited
manufacturing capabilities and reliance on subcontractors for
assistance, (viii) insufficient or inadequate reimbursement by
governmental and other third party payers for our products, (ix)
our efforts to successfully obtain and maintain intellectual
property protection covering our products, which may not be
successful, (x) legislative or regulatory reform of the healthcare
system in both the U.S. and foreign jurisdictions, (xi) our
reliance on single suppliers for certain product components, (xii)
the fact that we will need to raise additional capital to meet our
business requirements in the future and that such capital raising
may be costly, dilutive or difficult to obtain and (xiii) the fact
that we conduct business in multiple foreign jurisdictions,
exposing us to foreign currency exchange rate fluctuations,
logistical and communications challenges, burdens and costs of
compliance with foreign laws and political and economic instability
in each jurisdiction. More detailed information about the Company
and the risk factors that may affect the realization of
forward-looking statements is set forth in the Company’s filings
with the Securities and Exchange Commission (SEC), including the
Company’s Annual Report on Form 10-K and its Quarterly Reports on
Form 10-Q. Investors and security holders are urged to read these
documents free of charge on the SEC’s web site at
http://www.sec.gov. The Company assumes no obligation to publicly
update or revise its forward-looking statements as a result of new
information, future events or otherwise.
Investor Contacts:
Craig ShoreChief Financial OfficerInspireMD,
Inc.888-776-6804craigs@inspiremd.com
CORE IRinvestor-relations@inspiremd.com
InspireMD (AMEX:NSPR)
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