Business
Inspira™ Technologies Reports Second Quarter 2023 Financial Results
As of June 30, 2023, the Company had $8.9 million in cash, cash equivalents and short-term bank deposits. RA'ANANA, Israel, Aug. 10, 2023 /PRNewswire/ --
About this update from Qtrex Quantum Ltd.
[{"type":"text","content":"As of June 30, 2023, the Company had $8.9 million in cash, cash equivalents and short-term bank deposits.\nRA'ANANA, Israel, Aug. 10, 2023 /PRNewswire/ -- Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) (Nasdaq: IINNW) (the \"Company\" or \"Inspira\"), a company aiming to revolutionize acute respiratory care, announced today its financial results for the second quarter ended June 30, 2023.\n \n \nOutlook:\nINSPIRA™ ART100 - We are focused on the final stages of the development of the INSPIRA ART100, which is planned to be submitted to the U.S. Food and Drug Administration (the \"FDA\") clearance via the 510(k) pathway. We believe that the potential completion of the INSPIRA ART100 illustrates and validates our capability to take a product from research to a full regulatory submission and illustrates the potential of our intellectual property. The INSPIRA ART100 is designed for life support, providing pulmonary and cardiac support. The Company is preparing for the unveiling of the INSPIRA ART100 at the world's largest Extracorporeal Life Support Organization (ELSO) conference, the 34th Annual ELSO Conference in Seattle, Washington, which will be held between September 28 and October 1, 2023.\nINSPIRA™ ART500 – We continue to expend company resources towards the development of the INSPIRA ART500 and integrated artificial intelligence (\"AI\") and blood sensor technology. The Company is awaiting potential future grants of patents in the U.S. for the INSPIRA ART500 technologies.\nThe INSPIRA ART500 is a potentially disruptive, paradigm-shifting solution, offering a potentially new treatment category that uniquely utilizes small volumes of blood to increase oxygen saturation levels in minutes. To empower awake patients to breathe without lungs, the Company intends to integrate advanced hemodynamic sensor technologies with AI-powered real-time analytics to support significantly improving patient outcomes. In today's fast-paced healthcare environment, limited patient interaction time and a lack of real-time data can lead to overlooking subtle changes in the patient's condition, which could negatively impact clinical outcomes. INSPIRA AI will usher in a new era of hyper-personalization acute respiratory care, delivering real-time insights and alerts to support physician decision-making to support timely clinical intervention and enh...