InspireMD Selected for Inclusion in the Russell Microcap Index

BOSTON, MA – July 1, 2014 — InspireMD Inc.(NYSE MKT: NSPR) (“InspireMD” or the “Company”), a leader in embolic protection systems, today announced that it has been selected to join the Russell MicrocapIndex, as of June 27, 2014.

Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

 

“We hope that our presence in the Russell Microcap index will increase awareness of our company within the investor community,” said Alan Milinazzo, InspireMD CEO. “We intend to accomplish a number of important milestones over the coming months. These include ramping MGuard Prime selling activities, completing enrollment in our CGuard CARENET trial and finalizing our approval to restart MASTER II clinical activities. We welcome the increased investor attention at such an important and exciting time for the Company.”

 

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell calculates more than 700,000 benchmarks daily covering approximately 98 percent of the investable market globally, 80 countries and more than 10,000 securities. Approximately $5.2 trillion in assets are benchmarked to the Russell Indexes.

 

Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000Ò Index and Russell Microcap Index. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

 

Total returns data for the Russell Microcap and other Russell Indexes is available at http://www.russell.com/indexes/data/US_Equity/Russell_US_Index_returns.asp.

 

About Russell

 

Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.

 

Russell has more than $259 billion in assets under management (as of 3/31/2014) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.4 trillion in assets under advisement (as of 6/30/2013). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.6 trillion in 2013 through its implementation services business. Russell also calculates approximately 700,000 benchmarks daily covering 98% of the investable market globally, including more than 80 countries and more than 10,000 securities. Approximately $5.2 trillion in assets are benchmarked (as of 12/31/2013) to the Russell Indexes, which have provided investors with 30 years of smarter beta.

  

About InspireMD, Inc.

 

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™TM technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

 

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuardTM) and peripheral artery procedures.  InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

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 Transition Report on Form 10-KT 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:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com / grussell@kcsa.com

 

Media Contact:

Samantha Wolf

KCSA Strategic Communications

212-896-1220

swolf@kcsa.com

#  #  #

InspireMD Receives European Regulatory Approval to Resume Manufacturing and Distribution of MGuardTM Prime EPS

BOSTON, MA – June 23, 2014 – InspireMD, Inc. (“InspireMD” or the “Company”) (NYSE MKT: NSPR), a leader in embolic protection systems (EPS), today announced that it received European regulatory approval to resume the manufacturing of its MGuard Prime EPS stent with a modified stent securement process . The Company also received approval to modify and re-deploy existing MGuard Prime EPS stents that have been returned by clinical and commercial sites worldwide.

 

The European regulatory approval follows a Voluntary Field Action (VFA) InspireMD implemented on April 30, 2014.

 

Alan Milinazzo, CEO of InspireMD, stated, “We are pleased to report the approval of our modified manufacturing process for the MGuard Prime EPS and that we can now return to commercial and clinical activities in Europe and other markets outside of the U.S. We expect production of the MGuard Prime EPS to ramp over the next several weeks, as we come back online to support our sales and clinical programs. Although we are still working on the necessary approvals to resume our MASTER II FDA trial, we can immediately begin accelerating other important clinical programs while we simultaneously reengage our commercial customers.”

 

InspireMD is still awaiting U.S. FDA approval of the manufacturing process changes to the MGuard Prime EPS. The Company anticipates a late Q3 or early Q4 agency review and intends to resume enrollment in its MASTER II FDA trial shortly after regulatory approval is obtained. In the meantime, the Company intends to continue focusing on site activation in order to accelerate enrollment once the study resumes.

 

For more information about InspireMD and its offerings, visit www.inspiremd.com.

 

About InspireMD, Inc.

 

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™TM technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

 

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuardTM) and peripheral artery procedures. InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

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 Transition Report on Form 10-KT 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:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com / grussell@kcsa.com

 

Media Contact:

Samantha Wolf

KCSA Strategic Communications

212-896-1220

swolf@kcsa.com

InspireMD to Present at the 9th Annual JMP Securities Healthcare Conference

BOSTON, MA – June 18, 2014 – InspireMD, Inc. (NYSE MKT: NSPR) (“InspireMD” or the “Company”), today announced that its CEO, Alan Milinazzo, will be presenting at the 9th Annual JMP Securities Healthcare Conference at the Westin New York Grand Central in New York. The Company will present at 11:00 a.m. ET on Wednesday, June 25, 2014.

 

Investors attending the conference who wish to meet with InspireMD management for one-on-one meetings are encouraged to contact their JMP representative directly.

 

The event, which is in a fireside chat format, will be broadcast over the Internet as a “live” listen only Webcast. To listen, please go to www.inspiremd.com/site_en/for-investors/. The webcast will be available for 90 days following the presentation.

 

About InspireMD, Inc.

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™ technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuard™) and peripheral artery procedures. InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

Investor Contacts:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com / grussell@kcsa.com

 

Media Contact:

Samantha Wolf

KCSA Strategic Communications

Phone: 212-896-1220

Email: swolf@kcsa.com

InspireMD Reports Financial Results for the First Quarter Ended March 31, 2014

BOSTON, MA – May 7, 2014 – InspireMD, Inc. (NYSE MKT: NSPR) (“InspireMD” or the “Company”), a leader in embolic protection systems (“EPS”), today announced financial and operating results for the quarter ended March 31, 2014.

 

Recent Events

  • Initiated enrollment of patients into the CARENET (CARotid Embolic protection study using MicroNet™) for the CGuardTM EPS
    • Data from the CARENET trial is anticipated in the third quarter of 2014
  • Positive clinical results for the iMOS Prime Registry for the MGuardTM Prime EPS
    • Complete ST-resolution in approximately 75% of cases, and 2.2% MACE rate at 30 days, including zero cases of mortality
  • Development work on a next generation Drug Eluding Stent (“DES”) MGuard continued on track with favorable technical test results from all DES product candidates
  • Implemented a Voluntary Field Action (“VFA”) for the MGuard Prime EPS that is expected to have a short-term impact on both commercial and clinical activities
    • VFA does not apply to or impact the MGuard stainless steel EPS or CGuard nitinol products
    • VFA is expected to have a neutral impact on cash utilization in the near-term

 

“As expected, overall revenue for the quarter was relatively flat at $1.5 million compared to the same period last year.  Importantly, countries with direct sales reps reported an increase in revenue compared to the prior quarter and the majority of these territories outperformed the prior year period, which is an encouraging early indicator that our strategy is working in these key markets,” stated Alan Milinazzo, Chief Executive Officer of InspireMD.  “We also announced positive clinical results from the iMOS Prime Registry for the MGuard Prime EPS, which reported complete ST-resolution in approximately 75% of cases, and a 2.2% MACE rate at 30 days, including zero cases of mortality. This study enrolled 97 acute STEMI patients undergoing PCI from two sites in the Netherlands over the course of approximately 15 months.”

 

Mr. Milinazzo concluded, “Finally, our recent decision to initiate a Voluntary Field Action has been communicated to all of our customers and we are in the process of working through the regulatory approval processes which would allow us to begin shipping modified MGuard Primes back into the marketplace and to restart enrollment in our MASTER II trial. This action underscores the Company’s strong commitment to quality and we feel confident the modified product will be well received once commercial and clinical activities resume.”

 

Operational Overview

 

The Company continues to move forward with the CARENET (CARotid Embolic protection using MicroNet™) study, which is a multi-specialty trial to evaluate the safety and efficacy of the CGuard EPS. The CGuard uses the Company’s proprietary MicroNet™ technology and is designed for the treatment of carotid lesions in order to protect patients from plaque debris, blood clots and reduce the risk of stroke. Enrollment in the CARENET trial started ahead of schedule and the Company is on track to release initial results of the trial in the third quarter of 2014.

 

InspireMD is in the process of conducting pre-clinical studies for the viability of combining its proprietary MicroNet™ technology with several already CE Marked or FDA approved drug eluting coronary stents. These tests are evaluating the safety and efficacy of the stent when it is combined with the Company’s MicroNet™ technology. This is an important phase in the development of the Company’s next generation embolic protection system and management is carefully evaluating opportunities in this area on an ongoing basis. The Company is currently in negotiations with several stent manufacturers regarding next steps in the development of a combined product.

 

The Company recently became aware of reports of stent dislodgements occurring in the MGuard Prime EPS, leading to the precautionary measure of initiating a VFA. Although there were no reports of patients being harmed, management believed that proactively addressing the issue was important to uphold the Company’s standards of quality and safety. The Company believes that it has identified the root cause of these dislodgements and, upon approval from the European regulatory agency, intends to modify all existing units of the MGuard Prime EPS in order to improve stent retention and performance.  InspireMD has notified its clinical and commercial partners worldwide of the VFA for the MGuard Prime EPS and intends to modify all units in the field once regulatory approval is received.

 

As previously announced, the Company has temporarily suspended enrollment in its MASTER II FDA trial pending a review by the FDA of the manufacturing improvements to the MGuard Prime EPS. This is likely to delay enrollment in the trial for approximately 3 to 6 months. The Company intends to focus on site activation activities during this review period in order to accelerate enrollment once the study resumes.

 

Quarter Ended March 31, 2014 Financial Results

 

Revenue for the quarter ended March 31, 2014 was relatively flat at $1.5 million compared to $1.5 million during the same period in 2013. The 2014 period included a decline in sales volume associated with the move away from sales distributors as we transition towards direct sales channels, which was mostly offset by new customer sales in the Middle East.

 

Gross profit for the quarter ended March 31, 2014 totaled $0.9 million, an increase of 2.0% or $17,000, compared to $0.8 million for same period in 2013. Gross margin for the three months ended March 31, 2014 was 57.8%, an increase from 55.5% in the three months ended December 31, 2013. This increase in gross profit was attributable to a decrease in cost of revenues that was partially offset by a write-off of slow moving inventory of $52,000. If the non-recurring effects of the write-off of slow moving inventory in the three months ended March 31, 2014, are removed, gross margin for the three months ended March 31, 2014 would have been 61.3%.

 

Total operating expenses for the quarter ended March 31, 2014 were $6.4 million, an increase of 57.8% compared to $4.1 million for the same period in 2013. This was primarily due to increased research and development expenses attributable to the MASTER II trial and expenditures in sales and marketing as the Company increased its efforts to support the new sales strategies in key European countries.

 

The loss from operations for the quarter ended March 31, 2014 was $5.5 million, an increase of 72.4% compared to a loss of $3.2 million for the same period in 2013.

 

Financial expenses for the three months ended March 31, 2014 decreased 75.6%, or $1.3 million, to $0.4 million from $1.7 million during the same period in 2013. The decrease in financial expenses resulted primarily from a decrease of $1.3 million of anti-dilution rights expense associated with the April 2013 fund raising of $25 million.

 

The net loss for the quarter ended March 31, 2014 totaled $6.0 million, or $0.18 per basic and diluted share, compared to a net loss of $4.9 million, or $0.27 per basic and diluted share, in the same period in 2013.

 

Non-GAAP net loss for the quarter ended March 31, 2014 was $4.9 million, or $0.15 per basic and diluted share, an increase of 132.1% compared to a non-GAAP net loss of $2.1 million, or $0.12 per basic and diluted share, for the same period in 2013.  The non-GAAP net loss for the quarter ended March 31, 2014 primarily excludes $1.0 million of share-based compensation. The non-GAAP net loss for quarter ended December 31, 2013 primarily excludes $1.5 million in non-cash financial expenses and $1.3 million in share-based compensation expenses.  See “Use of Non-GAAP Financial Measures” and “Reconciliation of Non-GAAP Net Loss” below.

 

Cash and Cash Equivalents

 

As of March 31, 2014, cash and cash equivalents were $13.7 million, compared to $17.5 million as of December 31, 2013.

 

Investor Conference Call

 

The Company will host a conference call at 4:30 p.m. ET on Wednesday, May 7th to review its financial results and business outlook.  Participants should call (877) 407-0784 (United States) or (201) 689-8560 (International) and request the InspireMD call or provide confirmation code: 13581583. A live webcast of the call will also be available on the Investor Relations section of the Company’s website at www.inspiremd.com/site_en/for-investors.   Please allow 10 minutes prior to the call to visit this site to download and install any necessary audio software.

 

An archive of the webcast will be available approximately one hour after completion of the live event and will be accessible on the Investor Relations section of the Company’s website at www.inspiremd.com/site_en/for-investors for a limited time.  A dial-in replay of the call will also be available to those interested until May 21st.  To access the replay, dial (877) 870-5176 (United States) or (858) 384-5517 (International) and enter code: 13581583.

 

 

About InspireMD, Inc.

 

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™ technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

 

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuard™) and peripheral artery procedures.  InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

 

Use of Non-GAAP Financial Measures

 

To supplement the Company’s consolidated financial statements presented on a GAAP basis, the Company discloses a non-GAAP measure as non-GAAP net loss because management uses this supplemental non-GAAP financial measure to evaluate performance period over period, to analyze the underlying trends in its business, and to establish operational goals and forecasts that are used in allocating resources. In addition, the Company believes many investors use this non-GAAP measure to monitor the Company’s performance. This non-GAAP measure should not be considered as an alternative to GAAP measures as an indicator of the Company’s operating performance.

 

Non-GAAP net loss is defined by the Company as net loss excluding non-cash financial expenses, share-based compensation expenses and royalties buyout amortization. Non-cash financial expenses are items that are related to the amortization of discount on convertible debt and related issuance costs, the revaluation of warrants and expenses related to the anti-dilution rights of our March 2011 investors.

 

Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flow that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP measures discussed above, however, should be considered in addition to, and not as a substitute for or superior to operating loss, cash flows, or other measures of financial performance prepared in accordance with GAAP.  A reconciliation of non-GAAP to GAAP financial measure is set forth in the table below.

 

The Company believes that presenting a non-GAAP net loss, in addition to the corresponding GAAP financial measures, provides investors greater transparency to the information used by management for financial and operational decision-making and allows investors to see the Company’s results “through the eyes” of management. The Company further believes that providing this information assists investors in understanding the Company’s operating performance and the methodology used by management to evaluate and measure such performance.

 

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 the Company’s 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 the Company’s products, (iv) intense competition in the medical device industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) the Company’s limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) insufficient or inadequate reimbursement by governmental and other third party payers for the Company’s products, (ix) the Company’s efforts to successfully obtain and maintain intellectual property protection covering its products, which may not be successful, (x) legislative or regulatory reform of the healthcare system in both the U.S. and foreign jurisdictions, (xi) the Company’s reliance on single suppliers for certain product components, (xii) the fact that the Company will need to raise additional capital to meet its business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xii) the fact that the Company conducts business in multiple foreign jurisdictions, exposing the Company 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 Transition Report on Form 10-KT 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:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com / grussell@kcsa.com

 

Media Contacts:

Lewis Goldberg / Samantha Wolf

KCSA Strategic Communications

Phone: 212-896-1216 / 212-896-1220

Email: lgoldberg@kcsa.com / swolf@kcsa.com

 

######

 

 

CONSOLIDATED STATEMENTS OF OPERATIONS (1)

(U.S. dollars in thousands, except per share data)

Three months ended

March 31,

2014

2013

Revenues

$1,482

$1,514

Cost of revenues

625

674

Gross Profit

857

840

Operating Expenses:
Research and development

2,577

907

Selling and marketing

1,276

804

General and administrative

2,539

2,340

Total operating expenses

6,392

4,051

Loss from operations

(5,535)

(3,211)

Financial expenses

413

1,692

Loss before tax expenses

(5,948)

(4,903)

Tax expenses (Income)

20

(18)

Net Loss

($5,968)

($4,885)

Net loss per share – basic and diluted

($0.18)

($0.27)

Weighted average number of shares of common stock used in computing net loss per share – basic and diluted

34,051,703

18,196,083

 

 

 

 

RECONCILIATION OF NON-GAAP NET LOSS (2)

(U.S. dollars in thousands, except per share data)

Three months ended

March 31,

2014

2013

GAAP Net Loss

($5,968)

($4,885)

Non-GAAP Adjustments:
Non-cash financial expenses (income)(3)

(6)

1,458

Share-based compensation expenses

1,019

1,299

Royalties buyout expenses and amortization

15

0

Total Non-GAAP Adjustments

1,028

2,757

Non-GAAP Net Loss

($4,940)

($2,128)

Non-GAAP net loss per share – basic and diluted

($0.15)

($0.12)

Weighted average number of shares of common stock used in computing net loss per share – basic and diluted

34,051,703

18,196,083

 

 

 

CONSOLIDATED BALANCE SHEETS (4)

(U.S. dollars in thousands)

ASSETS

March 31,

December 31,

2014

2013

Current Assets:
Cash and cash equivalents

$13,706

$17,535

Restricted cash

93

93

Accounts receivable:
Trade

1,494

1,855

Other

465

387

Prepaid expenses

110

141

Inventory

1,343

1,593

Total current assets

17,211

21,604

Property, plant and equipment, net

624

652

Non-current assets:
Deferred issuance costs

293

310

Funds in respect of employee rights upon retirement

455

434

Long term prepaid expenses

85

114

Royalties buyout

837

852

Total non-current assets

1,670

1,710

Total assets

$19,505

$23,966

LIABILITIES AND EQUITY

March 31,

December 31,

2014

2013

Current liabilities:
Accounts payable and accruals:
Trade

$1,405

$1,623

Other

3,814

3,141

Advanced payment from customers

190

179

Current maturity of loan

2,099

1,181

Total current liabilities

7,508

6,124

Long-term liabilities:
Liability for employees rights upon retirement

636

610

Long term loan

7,748

8,593

Total long-term liabilities

8,384

9,203

Total liabilities

15,892

15,327

Equity:
Common stock, par value $0.0001 per share; 125,000,000 shares authorized; 34,054,060 and 33,983,346 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively

3

3

Additional paid-in capital

91,894

90,952

Accumulated deficit

(88,284)

(82,316)

Total equity

3,613

8,639

Total liabilities and equity

$19,505

$23,966

 
(1) All 2014 financial information is derived from the Company’s 2014 unaudited financial statements, as disclosed in the Company’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission, and all 2013 financial information is derived from the Company’s 2013 financial statements, as disclosed in the Company’s Transition Report on Form 10-KT, filed with the Securities and Exchange Commission.
(2) Our non-GAAP net loss is presented as management uses this supplemental non-GAAP financial measure to evaluate performance period over period, analyze the underlying trends in our business, and establish operational goals and forecasts that are used in allocating resources. We believe by presenting this additional measurement, we are providing investors with greater transparency to the information used by our management for our financial and operational decision-making, as well as allowing investors to see our results “through the eyes” of management. We further believe that providing this information assists our investors in understanding our operating performance and the methodology used by management to evaluate and measure such performance.
(3) Non-cash financial expenses (income) are items related to the amortization of the discount on the convertible loan and its related issuance costs, the issuance of shares as a result of the anti-dilution rights of our March 2011 investors and the revaluation of warrants.
(4) All March 31, 2014 financial information is derived from the Company’s 2014 unaudited financial statements, as disclosed in the Company’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission and all December 31, 2013 financial information is derived from the Company’s 2013 audited financial statements, as disclosed in the Company’s Transition Report on Form 10-KT, filed with the Securities and Exchange Commission.

InspireMD Announces Positive Results from iMOS Prime Registry for the MGuard Prime EPS

Study of 97 patients resulted in zero mortalities in STEMI patients as of 30-day follow up

Results to be presented at EuroPCR meeting in Paris on Thursday, May 22nd at 4:50 p.m. CEST

BOSTON, Ma – May 7, 2014 – InspireMD, Inc. (“InspireMD” or the “Company”) (NYSE MKT: NSPR), a leader in embolic protection stents (EPS), today announced new results from the iMOS (International MGuard Observational Study) Prime Registry demonstrating that use of the MGuardTM Prime in cases of acute ST-segment elevation myocardial infarction (STEMI) patients undergoing percutaneous coronary intervention (PCI) resulted in complete ST-resolution in approximately 75% of cases, and a 2.2% rate of Major Adverse Cardiac Events (MACE) at 30 days, including zero cases of mortality.

The iMOS Prime Registry evaluated the ‘Real World’ Clinical Performance of the MGuard Prime Coronary Stent System in patients with acute STEMI undergoing PCI. Between December 13, 2012 and March 19, 2014, there were 97 patients with STEMI enrolled at two sites in the Netherlands.

“I have treated many patients with coronary disease requiring a thrombus management solution over the years and I am excited to share results from the recently completed iMOS Prime registry in a real world setting which looked at the MGuard Prime EPS performance,” stated Dr. Giovanni Amoroso, Interventional Cardiologist at OLVG Hospital in the Netherlands. “This iMOS registry is the first study done exclusively with the lower profile MGuard Prime embolic protection system.  I am happy to report that device success was achieved in 100% of all cases.  In addition, TIMI 3 flow was achieved 92% of the time, complete ST-resolution was achieved in approximately 75% of the cases, and finally, 30 day all-cause mortality was 0%. We plan to continue to follow the patients out to 12 months.”

The iMOS Prime Registry achieved a 2.2% rate of Major Adverse Cardiac Events rate (MACE) at 30 days, the primary endpoint for the study.  MACE is defined as the composite of cardiac death, myocardial infarction (Q wave and non-Q wave) or target lesion revascularization (PTCA or CABG).

“The MGuard Prime’s performance in the iMOS Prime Registry is consistent with our previous STEMI studies, reinforcing our belief that the MGuard Prime may offer superior mortality benefits compared to other stents on the market,” stated Alan Milinazzo, President and Chief Executive Officer of InspireMD. “Further, during this study, there was a 100% success rate reported in the delivery and deployment of the MGuard Prime.”

The MGuard Prime utilizes the Company’s proprietary MicroNet™ technology, which is a circular knitted mesh that wraps around a cobalt chromium stent to protect patients from plaque debris flowing downstream upon deployment.  This advanced technology allows the MGuard Prime to specifically address the unmet need for STEMI patients, and save the life of those who suffer from heart attacks.

About Stenting and MGuard™ Prime EPS

 

Standard stents were not engineered for heart attack patients. They were designed for treating stable angina patients whose occlusion is different from that of an occlusion in a heart attack patient.

 

In acute heart attack patients, the plaque or thrombus is unstable and often breaks up as the stent is implanted causing downstream blockages (some of which can be fatal) in a significant portion of heart attack patients.

 

The MGuard Prime EPS is integrated with a precisely engineered micro net mesh that is designed to prevent the unstable arterial plaque and thrombus (clots) that caused the heart attack blockage from breaking off.

 

While offering superior performance relative to standard stents in STEMI patients with regard to ST segment resolution, the MGuard Prime EPS requires no change in current physician practice – an important factor in promoting acceptance and general use in time-critical emergency settings.

 

About InspireMD, Inc.

 

InspireMD seeks to utilize its proprietary MGuard™ technology to make its products the industry standard for embolic protection stents and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

 

InspireMD intends to pursue applications of this technology in coronary, carotid and peripheral artery procedures.  InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

MGuard™ EPS is CE Mark approved. It is not approved for sale in the U.S. by the FDA at this time.

 

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 Transition Report on Form 10-KT 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:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com / grussell@kcsa.com

 

Media Contacts:

Lewis Goldberg / Samantha Wolf

KCSA Strategic Communications

Phone: 212-896-1216 / 212-896-1220

Email: lgoldberg@kcsa.com / swolf@kcsa.com

InspireMD Announces Voluntary Field Action for MGuardTM Prime EPS

BOSTON, MA – April 30, 2014 – InspireMD, Inc. (“InspireMD” or the “Company”) (NYSE MKT: NSPR), a leader in embolic protection systems (EPS), today announced that it has initiated a Voluntary Field Action (VFA) following recent reports  of MGuard Prime EPS stent dislodgements.  These reports have primarily occurred during the preparation of the MGuard Prime EPS, upon removal of the protective sleeve or during withdrawal of the MGuard Prime EPS into the guide catheter. To date, there have been no reports of any patients being harmed in these recent reports reviewed by the Company.

 

The VFA for InspireMD’s MGuard Prime cobalt chrome EPS does not apply to or impact the Company’s MGuard stainless steel EPS or CGuard nitinol products.

 

The Company believes that it has identified the root cause of these dislodgements and, upon approval from the European regulatory agency, intends to modify all existing units of the MGuard Prime EPS in order to improve stent retention and performance.  Today, InspireMD began notifying its clinical and commercial partners worldwide of its VFA for the MGuard Prime EPS and intends to modify all units in the field once regulatory approval is received.

 

The VFA will have a short term impact on both the commercial and clinical activities relating to the MGuard Prime EPS. The Company anticipates regulatory review to be completed by the end of the current, second quarter and would then commence shipping MGuard Prime EPS back into the marketplace.

 

As a result of the VFA, the Company has temporarily suspended enrollment in its MASTER II FDA trial pending a review by the FDA of the manufacturing improvements to the MGuard Prime EPS. This agency review is likely to delay enrollment in the trial for approximately 3 to 6 months. The Company intends to focus on site activation during this review period in order to accelerate enrollment once the study resumes.

 

“We believed it was prudent to initiate this voluntary field action in order to proactively address the issue of stent retention and to uphold our strong commitment to quality,” stated Alan Milinazzo, Chief Executive Officer of InspireMD. “There will be a short-term impact on our revenue, as we have chosen to discontinue shipments of MGuard Prime while we work through the regulatory portion of this voluntary action. We also anticipate a delay of up to six months before resuming enrollment activities for the Master II FDA trial. The costs associated with upgrading the inventory of MGuard Prime units is minimal and should have little impact on our short term cash position. We view this action as a corporate responsibility and while it is a near-term setback, improving the quality of our product performance should result in long term clinical and commercial benefits.”

 

For more information about InspireMD and its offerings, visit www.inspiremd.com.

 

About InspireMD, Inc.

 

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™TM technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

 

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuardTM) and peripheral artery procedures.  InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

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 Transition Report on Form 10-KT 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:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com / grussell@kcsa.com

 

Media Contacts:

Samantha Wolf

KCSA Strategic Communications

212-896-1220

swolf@kcsa.com

 

InspireMD to Report Financial Results for Quarter Ended March 31, 2014 on Wednesday, May 7th

BOSTON, MA – April 30, 2014 – InspireMD, Inc. (NYSE MKT: NSPR) (“InspireMD” or the “Company”), a leader in embolic protection stents, announced today that it will release its financial results for the quarter ended March 31, 2014 on Wednesday, May 7th.

 

The Company will host a conference call at 4:30 p.m. ET on Wednesday, May 7th to review its financial results and business outlook.  Participants should call (877) 407-0784 (United States) or (201) 689-8560 (International) and request the InspireMD call or provide confirmation code: 13581583. A live webcast of the call will also be available on the Investor Relations section of the Company’s website at www.inspiremd.com/site_en/for-investors.   Please allow 10 minutes prior to the call to visit this site to download and install any necessary audio software.

 

An archive of the webcast will be available approximately one hour after completion of the live event and will be accessible on the Investor Relations section of the Company’s website at www.inspiremd.com/site_en/for-investors for a limited time.  A dial-in replay of the call will also be available to those interested until May 21st.  To access the replay, dial (877) 870-5176 (United States) or (858) 384-5517 (International) and enter code: 13581583.

 

About InspireMD, Inc.

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™ technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

 

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuard™) and peripheral artery procedures.  InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

Investor Contacts:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com / grussell@kcsa.com

 

Media Contacts:

Lewis Goldberg / Samantha Wolf

KCSA Strategic Communications

Phone: 212-896-1216 / 212-896-1220

Email: lgoldberg@kcsa.com / swolf@kcsa.com

InspireMD Announces First Patient Enrolled Into New CGuard™ CARENET (CARotid Embolic protection study using MicroNet™) Clinical Trial

Proven Embolic Protection System Expands to Treat Carotid Artery Disease

 

BOSTON, MA – March 19, 2014 – InspireMD, Inc. (“InspireMD” or the “Company”) (NYSE MKT: NSPR), a leader in embolic protection systems, today announced that it has successfully enrolled the first patient into the CARENET (CARotid Embolic protection study using microNET) multi-center European clinical trial for the new CGuardTM carotid embolic protection system.

 

The CARENET clinical study is a multi-specialty trial that is designed to provide data and evidence of the CGuard carotid embolic protection system to better understand the complexities and challenges of patients that experience carotid artery disease.  The objective of the CARENET study is to evaluate the safety and efficacy of the CGuard system in the treatment of carotid lesions in consecutive patients suitable for carotid artery stenting (CAS).

 

The proprietary CGuard carotid embolic protection system uses the same MicroNet™ technology featured on the MGuard™ and MGuard Prime™ coronary embolic protection systems. The MicroNet™ technology is a single fiber knitted mesh wrapped on an open cell stent platform designed to trap debris that can travel downstream after a patient is treated with traditional stenting methods. This technology seeks to protect patients from plaque debris and blood clots breaking off and traveling distally in the arteries which can lead to life threatening strokes. The size, or aperture, of the MicroNet™ ‘pore’ is only 150-180 microns in order to maximize protection against the potentially dangerous plaque and thrombus which is liberated during the procedure.

 

“Initiating the CARENET trial ahead of schedule is important for the Company and is indicative of the tremendous clinical interest about the potential benefits of the MicroNet™ technology in this complex setting,” stated Alan Milinazzo, Chief Executive Officer of InspireMD. “The excitement from physicians around the CGuard design and its potential clinical benefit is viewed as a potential breakthrough for carotid stenting therapy. The CARENET study is the first step towards that clinical validation.”

 

“I have treated many patients with carotid artery disease over the years, and I am excited to participate in the CARENET clinical trial using the unique CGuard embolic protection system,” stated Professor Joachim Schofer, MD, from the Hamburg University Cardiovascular Center, in Hamburg, Germany. “The small pore size of the MicroNet™ technology allows excellent blood flow while trapping potentially harmful plaque debris and thrombus. The CGuard technology provides an elegantly simple solution for embolic protection that has not been available in the past. I look forward to using this device with other sites throughout Europe in the CARENET trial to help treat my patients with carotid disease.”

 

For more information about InspireMD and its offerings, visit www.inspiremd.com.

 

About InspireMD, Inc.

 

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™TM technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

 

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuardTM) and peripheral artery procedures.  InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 


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) our limited manufacturing capabilities and reliance on subcontractors for assistance, (vii) insufficient or inadequate reimbursement by governmental and other third party payers for our products, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) legislative or regulatory reform of the healthcare system in both the U.S. and foreign jurisdictions, (x) our reliance on single suppliers for certain product components, (xi) 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 (xii) 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 Transition Report on Form 10-KT 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:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com / grussell@kcsa.com

 

Media Contacts:

Samantha Wolf / Taylor McGrann

KCSA Strategic Communications

212-896-1220 / 212-896-1253

swolf@kcsa.com / tmcgrann@kcsa.com

 

InspireMD to Present at the 26th Annual ROTH Conference

BOSTON, MA – March 6, 2014 – InspireMD, Inc. (NYSE MKT: NSPR) (“InspireMD” or the “Company”), today announced that its CEO, Alan Milinazzo, will be presenting at the 26th Annual ROTH Conference at the Ritz Carlton, Laguna Niguel in Dana Point, CA. The Company will present at 5:00 p.m. PT on Tuesday, March 11, 2014.

 

Investors unable to attend the ROTH Conference may listen in to the webcast, which can be found on the Investors section of the Company’s website at www.inspiremd.com/site_en/for-investors/.  The webcast will be available for 90 days following the presentation.

 

 

About InspireMD, Inc.

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™ technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuard™) and peripheral artery procedures.  InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

Investor Contacts:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com  / grussell@kcsa.com

 

Media Contacts:

Lewis Goldberg / Samantha Wolf

KCSA Strategic Communications

Phone: 212-896-1216 / 212-896-1220

Email: lgoldberg@kcsa.com / swolf@kcsa.com

InspireMD to Present at the Cowen & Company 34th Annual Health Care Conference

BOSTON, MA – February 27, 2014 – InspireMD, Inc. (NYSE MKT: NSPR) (“InspireMD” or the “Company”), today announced that its CEO, Alan Milinazzo, will be presenting at the Cowen & Company 34th Annual Health Care Conference at The Boston Marriott Copley Place, in Boston. The Company will present at 9:20 a.m. EST on Wednesday, March 5, 2014.

 

Investors unable to attend the Cowen & Co. Conference may listen in to the webcast, which can be found on the Investors section of the Company’s website at www.inspiremd.com/site_en/for-investors/.  The webcast will be available for 90 days following the presentation.

 

 

About InspireMD, Inc.

InspireMD seeks to utilize its proprietary MGuard™ with MicroNet™ technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events.

InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuard™) and peripheral artery procedures.  InspireMD’s common stock is quoted on the NYSE MKT under the ticker symbol NSPR.

 

Investor Contacts:

Todd Fromer / Garth Russell

KCSA Strategic Communications

Phone: 212-896-1215 / 212-896-1250

Email: tfromer@kcsa.com  / grussell@kcsa.com

 

Media Contacts:

Lewis Goldberg / Samantha Wolf

KCSA Strategic Communications

Phone: 212-896-1216 / 212-896-1220

Email: lgoldberg@kcsa.com / swolf@kcsa.com