Inspira Technologies Oxy B.H.N. Ltd. (IINN) is a leader in the development of medical tools and devices mainly focusing on respiratory care. One of the lead product devices of the company is augmented respiratory technology (ART), or artificial lung for patients with debilitating respiratory systems. A hemo-protective flow approach is utilized in this device which rebalances saturation levels to lessen the patient’s need for machine-driven ventilation.
The price of IINN stock during the regular trading on December 22, 2021, was $4.18 with a momentous incline of 23.67%. At last check in the current market on December 23, 2021, the stock was down by 6.46%.
Events and Happenings
On December 9, 2021, IINN reported signing an exclusive summary distribution collaboration agreement with Innovimed. The strategic partnership will result in the deployment of 1522 ART devices in Slovakia, the Czech Republic, and Poland. On December 8, 2021, IINN reported about filing a patent application for its innovative ART device and its exclusive approach of use to lessen the need for mechanical ventilation.
Key Financials
On November 23, 2021, IINN reported its financial results for the third quarter ended September 30, 2021. Some key updates are as follows
Net Profit
Net profit for the three months ended September 30, 2021 was $2.2 million, against the same period of 2020 when it was $0.34 million.
Total Current Assets
Total current assets of the company on September 30, 2021, were $17.8 million.
On November 12, 2021, IINN reported that the top management of the company presented at the H.C. Wainwright 7th Annual Israel Virtual Conference on November 15, 2021. On November 10, 2021, IINN) reported about filing a patent application to the World Intellectual Property Organization for its innovative dual lumen cannula, which is used for balancing patients’ oxygen saturation and carbon dioxide level.
On October 26, 2021, IINN reported that it signed a strategic partnership pact with the WAAS Group. The collaboration is the part of the deployment of 1040 ART devices in Spain and Portugal. On October 13, 2021, IINN reported the company’s ART device presentation at the HLTH conference in held on October 17-20. On September 30, 2021, IINN reported that it hosted the Virtual TechTalk event titled ‘Has COVID-19 changed the game?’ on October 6, 2021.
Conclusion
The stock of IINN is gaining momentum from the past month (46% increase observed) possibly due to the company’s strategic partnership with some of the big names of the industry. The analysts are hoping that the company will revive its legacy of showing innovative devices and thus has a far-reaching impact on the investments of the company.
