The following is a summary of the InspireMD Inc. (NSPR) Q1 2024 Earnings Call Transcript:
Financial Performance:
InspireMD reported a Q1 2024 total revenue of $1.5 million, marking an increase of approximately 22% from the previous year.
The company sold a total of 2,553 CGuard stents in Q1 2024, a 25.6% increase from Q1 2023.
Gross profit for Q1 2024 was $292,000, down by 21.6% due to an increase in training costs.
There was a significant increase in Q1 2024 operating expenses, which rose by 62.1% to $7.7 million, driven largely by higher share-based compensation.
A net loss of $7.32 million or $0.21 per share was reported for Q1 2024.
Business Progress:
The C-Guardians trial continues, with expected results to be presented at the Leipzig Interventional Course in 2024.
The company aims to submit a premarket approval application later this year and is targeting a US commercial launch in early 2025.
InspireMD has entered a strategic agreement with the Jacobs Institute to conduct a feasibility study of CGuard Prime.
The FDA-approved study is set to enroll its first participant in Q2 2024.
Looking ahead, the company plans to study and submit its SwitchGuard system and C-Guard TCAR stent platform for clearance in 2026.
More details: InspireMD IR
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