Shares of the Inspira Technologies Oxy B.H.N. Ltd. (IINN) stock soared in the intraday today on December 9, 2021. IINN stock price saw an uptrend of 92.84% to reach $5.19 a share at the time of this writing. The stock was also green in the previous trade and went up by 0.37% with a $2.69 per share price at closing. Let’s deep dive to understand the reason behind this bull.

What’s Happening?

IINN stock today announced the filing of the Patent Cooperation Treaty (PCT) patent application. The patent application is related to the novel ART device and its proprietary methods of the Inspira stock. The purpose of filing this application is to minimize the demand for invasive mechanical ventilation which requires intubation and induced coma.

For your intuition, ART is a novel low-flow early extracorporeal blood oxygenation system for acute respiratory patients. This system has the ability to rebalance the oxygen saturation levels in minutes by enriching 1-1.5 liters of blood in a minute. The device prevents invasive mechanical ventilation by removing CO2, thus reducing the treatment-related complications. The device helps patients in spontaneous breathing and provides a circulation rate of 30 ml/Kg per minute.

New Appointment by IINN stock:

IINN stock on November 30, 2021, did announce the appointment of Professor Eddy Fan to the advisory board. Eddy Fan is well known for critical care and extracorporeal life support methods. Eddy Fan graduated from the University of Toronto, got his medical degree from the University of Western Ontario. He did Ph.D. in clinical investigations from the University of Western Ontario.

Financial View of IINN stock:

• According to third-quarter 2021 financial results, IINN stock recorded a net profit of $2.2 million. This compares to $348,000 net profit in the same period of the previous year.
• IINN stock recorded a finance income of $5.1 million in the three months ended September 30, 2021. This income was $2 million in the same quarter of last year.
• IINN stock spent $581,000 in research and development expenses in the third quarter of 2021. These expenses were $1.1 million in the corresponding period of the previous year.
• General and administrative expenses of IINN stock were $2.2 million in the recently reported quarter. The company spent $147,000 in marketing expenses in the third quarter of 2021.
• By the end of the third quarter of 2021, the company had $17 million in cash, cash equivalents, and short-term deposits.

Wrap Up:

Investors are responding positively to the recent announcement of the Inspira stock. The per-share price progress is not so much satisfactory for the stock as it lost approximately 43% year to date.