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Inspira™ Technologies Announces First Quarter 2022 Financial Results
As of March 31, 2022, the Company had $21.7 million in cash RA'ANANA, Israel, May 19, 2022 /PRNewswire/ -- Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN)
About this update from Qtrex Quantum Ltd.
[{"type":"text","content":"As of March 31, 2022, the Company had $21.7 million in cash\nRA'ANANA, Israel, May 19, 2022 /PRNewswire/ -- Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) (NASDAQ: IINNW) (the \"Company\" or \"Inspira Technologies\"), a groundbreaking respiratory support technology company, announced today its financial results for the first quarter ended March 31, 2022.\n \n \nDagi Ben-Noon, Chief Executive Officer of Inspira Technologies, stated: \"The Company continues to be focused on meeting schedules in 2022 for its major milestones, which include revealing a new technology designed for utilization in the ART™ system. Inspira will also continue to drive towards strategic agreements and reach advanced stages of verification and validation (V&V) for the U.S. Food and Drug Administration (the \"FDA\") Class II submission for the ECLS System in the first half of 2023. The Company is working with suppliers and manufacturers to meet lead times and managed risks experienced in the global supply chain.\"\nHighlights:\nJanuary 9, 2022 - Professor Daniel Brodie, the President-Elect of the International Extracorporeal Organization (ELSO) and Director of Critical Care from New York Columbia – Presbyterian Hospital, joined Inspira Technologies' Advisory Board.January 28, 2022 - Inspira Technologies listed an FDA Class I 510(k) exempt component of the ART system.January 31, 2022 - Inspira Technologies signed a Strategic Agreement in the U.S. to target $212 Million for Inspira Technologies over a 7-Year period, subject to regulatory approvals. The agreement is with U.S. based Glo-Med Networks for the potential deployment of 2,121 ART systems in 6 states in the United States.February 3, 2022 - Inspira Technologies appointed an expert in the field of artificial lung as its New Chief Technology Officer (CTO) –Daniella Yeheskely-Hayon, Ph.D.February 27, 2022 - Inspira Technologies announced that it was awarded with the 2021 Frost & Sullivan Best Practices Technology Innovation Leadership Award. April 6, 2022 - Inspira Technologies announced a Deployment Agreement in the Israeli Market to potentially target $15 Million. The agreement is for a 7-year period, and is subject to regulatory approval.Financial Results for the Three Months Ended March 31, 2022\nResearch and development expenses for the three months ended March 31, 2022, were $1.5 million, compa...