InspireMD Inc. · NASDAQ:NSPR
InspireMD — Investor Presentation (April 2025)
29 slides from InspireMD's investor presentation, April 2025
Slide 1: InspireMD Poised to Revolutionize the Carotid Intervention Market
InspireMD Poised to Revolutionize the Carotid Intervention Market Nasdaq: NSPR
Slide 2: Disclaimers
Disclaimers Forward Looking Statement This presentation 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. For
Slide 3: Executive Leadership Team
Executive Leadership Team Deep industry experience and subject matter expertise Marvin Slosman Shane Gleason Craig Shore Andrea Tommosoli Chief Executive Officer Chief Commercial Officer Chief Financial Officer Chief Operating Officer • 30+ years medical device • 20+ years cardiovascular medical • 2
Slide 4: Developer of CGuard Prime Carotid Stent Platform
Developer of CGuard Prime Carotid Stent Platform Dedicated to advancing the prevention of stroke and treatment of carotid artery disease 4
Slide 5: Transforming the Carotid Intervention Market
Transforming the Carotid Intervention Market CGuard Carotid Stent Platform CMS Coverage Expanded Proprietary MicroNet Technology Standard Risk and Asymptomatic Reimbursement Highly differentiated platform for treatment of Enables stent-first approach to carotid carotid artery disease and stroke prev
Slide 6: Potential $8B Global Market Opportunity
Potential $8B Global Market Opportunity ~2.8 million People diagnosed with High Grade Carotid CURRENT UNTREATED GLOBAL MARKET Stenosis (HGCS) $8.0 Billion ~400,000 Global procedures (CEA/CAS/TCAR) globally to treat HGCS (1) 155,000 CURRENT TREATED US Procedures Annually GLOBAL MARKET $1.3 Billion Ma
Slide 7: Endovascular Revolution Has Arrived
Endovascular Revolution Has Arrived MicroNetTM covered CGuardTM stent platform could become the new gold standard CEREBRAL CORONARY THORACIC/ABDOMINAL PERIPHERAL CAROTID ARTERY ANEURYSMS ARTERY DISEASE AORTIC ANEURYSMS ARTERIAL DISEASE DISEASE5 AWAITING CONVERSION TO ENDO 30% Surgical1 23% Surgical2
Slide 8: A Picture is Worth a Thousand Words
A Picture is Worth a Thousand Words… VS Surgical Endarterectomy 90% occlusion CGuard Stent Stenting 8
Slide 9: Market Shift
Market Shift The market has already begun the shift from surgery to stents (procedures and revenue opportunity) 60,000 $420M 2030 60,000 $160M 45,000 40,000 $280M 2027 40,000 $110M 75,000 30,000 $210M 2024 30,000 $80M 95,000 TCAR CAS CEA 9
Slide 10: Carotid Stenting (CAS + TCAR) is on the Rise
Carotid Stenting (CAS + TCAR) is on the Rise ~147K annual carotid intervention claims Represents ~90% of procedures (does not include Kaiser, Gov’t/DoD) 10.6% stent (CAS + TCAR) CAGR over prior three years (TCAR reimbursement expansion 2022, CAS 2023) TCAR coverage CAS coverage expansion expansion •
Slide 11: The CGuard Difference: The Impact of MicroNet Technology
The CGuard Difference: The Impact of MicroNetTM Technology1 Approximately 2/3 of neurovascular events (stroke, TIA) occur after carotid interventions take place2. Prevention depends on the protection from the stent implanted VS. Protruding plaque/thrombus MicroNetTM sealing plaque/ between struts th
Slide 12: Long-Term Stent Performance is the Cornerstone of Our Focus
Long-Term Stent Performance is the Cornerstone of Our Focus Benefits are independent of delivery Well-positioned to capitalize CGuard Prime Tandem on the ongoing paradigm shift CAS Stroke toward a “stent first” approach and away from surgery Agnostic to stent delivery approach (CAS vs TCAR) CGuard P
Slide 13: Scientific Advisory Board (Multidisciplinary KOLs)
Scientific Advisory Board (Multidisciplinary KOLs) Sean Lyden, M.D. Chris Metzger, M.D. Kenneth Rosenfield, M.D. Adnan H. Siddiqui, M.D., Ph.D. Vascular Surgeon Medical Director Interventional Cardiologist Professor, Vice Chairman of Cardiologist the Department of Neurosurgery 13
Slide 14: Unmatched Foundational Data and Evidence
Unmatched Foundational Data and Evidence 14
Slide 15: PMA Trial Design (C-GUARDIANS)
PMA Trial Design (C-GUARDIANS) Prospective, multicenter international single-arm clinical trial Pivotal Study Objective Evaluate the safety and efficacy of the CGuard Carotid Stent System in the treatment of carotid Primary Endpoints artery stenosis Composite of DSMI through 30 days or ipsilateral s
Slide 16: C-GUARDIANS: 30-Day Safety Outcomes
C-GUARDIANS: 30-Day Safety Outcomes 30-Day Death/Stroke/MI (DSMI) rates, compared to other carotid trials CGUARDIANS 30-day outcomes 30-day DSMI (multiple FDA trials) Intention to Treat Per Protocol1,2 8.30% 30-day DSMI 0.95% (3) 0.63% (2) 5.80% 5.40% 5.20% 5.10% 4.80% Death 0.32% (1) 0.0% (0) 3.50%
Slide 17: C-GUARDIANS: 1 Year Outcomes
C-GUARDIANS: 1 Year Outcomes 365-Day Death/Stroke/MI (DSMI) rates, compared to other carotid trials CGUARDIANS 365-day 365-day (multiple FDA trials) Intention to Treat Per Protocol1,2 12.20% 9.60% Primary Endpoint: 30-day 8.90% Death, Stroke, or MI + 1.93% (6) 1.70% (5) Ipsilateral Stroke between 7.
Slide 18: CARMEN Meta-Analysis (112 Studies, 68K Patients)
CARMEN Meta-Analysis (112 Studies, 68K Patients)1 30-day and 12-month event rates by stent type (random-effect model) Terumo Gore Event FGS SGS RoadSaver/ (not marketed) CGuard • Improvements from second- Casper generation stents (SGS) 30-day Stroke [%] 3.01 0.60 0.50 2.89 0.54 relative to first-gen
Slide 19: TCAR
TCAR INSPIREMOD
Slide 20: Transcarotid Arterial Revascularization (TCAR): Direct Carotid Access with Reverse Flow
Transcarotid Arterial Revascularization (TCAR): Direct Carotid Access with Reverse Flow InspireMD Combines SwitchGuard NPS with Best-in-Class CGuard Implant 1. Transient flow reversal combined with sustained embolic prevention in transcervical revascularization of symptomatic and highly-emboligenic
Slide 21: SwitchGuard NPS (TCAR)
SwitchGuard NPS (TCAR) 80CM TCAR Market Opportunity ~3,000 TCAR-trained physicians in the U.S.1 ~30,000 TCAR procedures (~$210M) performed in the U.S. in 2024, double-digit growth projected1,2 1 Piper-Sandler model, 05/01/24 2 Piper-Sandler model, 05/01/24 21
Slide 22: Market Positioning
Market Positioning INSPIREMOD
Slide 23: Strong Tailwinds in the Carotid Space
Strong Tailwinds in the Carotid Space We are Following A Proven Playbook & Path to Success Strong Market Traction Demonstrated by Our Peer*, Whose Portfolio was Limited to TCAR Only $177.1 Annual Peer Revenue ($M) Peer supported over 100K $135.5 procedures in 2024 $101.5 InspireMD has sold over 60K
Slide 24: Commercial and Corporate
Commercial and Corporate INSPIREMOD
Slide 25: Roadmap / Milestones
Roadmap / Milestones Key Value Drivers 2025 2026 2027 CGuard Prime CAS Approval CGuard Prime CAS Market Expansion Further Commercial Expansion in the U.S. Launch for CAS CGuard Prime TCAR Approval Global Expansion in Asia U.S Operational Expansion CGuard Prime indicated stent for TCAR Build out of U
Slide 26: Commercial Footprint
• Active selling in more than 30 countries Commercial Footprint • Over 60,000 systems sold • Average CAS Market share of 25% Signed agreement with Chinese distributor. Working toward distribution Investigational Device Exemption (IDE) trial enrollment completed Q2 Exploring expansion 2023; potential
Slide 27: Transformational May 2023 Financing Up To $113.6 Million
Transformational May 2023 Financing Up To $113.6 Million To advance the company towards potential US approval and launch of CGuard EPS and other value-creating milestones $42.2 million upfront funding Strong validation from leading fundamental healthcare investors, with $71.4 million tied to the ach
Slide 28: Summary Financials
Summary Financials March 5, 2025 NASDAQ Capital Markets NSPR Stock Price $2.90 Average 3 Month Volume 45.1K Shares Outstanding 21.8M Shares Outstanding with Prefunded Warrants 32.0M Market Capitalization with Prefunded Warrants $100.9M Cash Balance - December 31, 2024 $34.7M Debt - December 31, 2024
Slide 29: Nasdaq: NSPR
NASDAQ Nasdaq: =NSPR NSPR