Business
InspireMD Reports Third Quarter 2021 Financial Results and Provides Corporate Update
-CGuard™ sales generated 24% YoY revenue growth- -CGuard™ EPS received a positive opinion from the French National Authority for Health (HAS) regarding
About this update from Inspiremd Inc.
[{"type":"text","content":"-CGuard™ sales generated 24% YoY revenue growth- -CGuard™ EPS received a positive opinion from the French National Authority for Health (HAS) regarding reimbursement in France- - $37.1 million in cash, cash equivalents and short-term bank deposits as of September 30, 2021, provides runway into first half of 2023- -Management to host Call & Webcast Today, November 9, 2021, at 8:30am ET- TEL AVIV, Israel, Nov. 09, 2021 (GLOBE NEWSWIRE) -- InspireMD, Inc. (Nasdaq: NSPR), developer of the CGuard™ Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of Carotid Artery Disease (CAD), today announced financial and operating results as of and for the third quarter ended September 30, 2021. “This quarter has been extremely productive, and I am pleased to report our progress as we build momentum into the end of the year. On the commercial front, the successful expansion of CGuard™ into France represents further progress of our reimbursement initiative as well as growing global demand from physicians for our product when treating CAD,” explained Marvin Slosman, CEO of InspireMD. “Our performance this quarter has been particularly gratifying, both year over year and sequentially, as we continue to deliver growth in the use of CGuard EPS to prevent strokes and manage CAD.” Third Quarter 2021 and Recent Highlights Total CGuard EPS revenue for the third quarter of $1,031,000, an increase of 23.8% compared to the same period in 2020, showed growing procedural share and return to normalized procedure levels in most geographies as the COVID pandemic has waned. For the nine months ended September 30, 2021, CGuard revenue increased by 45.4% compared to the same period in 2020.In November 2021, the Company announced a publications’ acceptance in the Journals of the American College of Cardiology (JACC), Randomized Controlled Trial of Conventional Versus MicroNet-Covered Stent in Carotid Artery Revascularization. This publication demonstrates the latest randomized trial of CGuard compared to first generation stents and supports the large and growing body of clinical and scientific evidence showing the superiority of the CGuard device in preventing brain embolization.In October 2021, the Company announced that its CGuard EPS stent system had received a positive opinion from the National Commission for the Evaluation of M...