A few facts…
Excerpts from the Company’s Financial Results for the Third Quarter Ended September 30, 2016:
Total operating expenses for the quarter ended September 30, 2016 were $1,801,000, a decrease of 48.5% compared to $3,500,000 for the same period in 2015. This decrease was primarily due to a reduction of compensation related expenses, consultant fees and other savings associated with our ongoing cost reduction plan.
The loss from operations for the quarter ended September 30, 2016 was $1,770,000, a decrease of 48.1% compared to a loss of $3,411,000 for the same period in 2015.
James Barry, PhD, Chief Executive Officer of InspireMD:
We have been very active these last few months building a foundation for commercial, corporate, and regulatory success, and executing our strategy for realizing the value of our lead product, the CGuard™ Embolic Prevention System. There continues to be a growing body of data on CGuard, including recent data published in the Journal of Endovascular Therapy and long term follow-up data presented at the Transcatheter Cardiovascular Therapeutics (TCT) 2016 scientific symposium. These clinical data continue to showcase the benefits of this innovative device, including long-term reduction of post-procedural embolization, resulting in less complications for patients
Recently company announced that it has received regulatory approval to commercialize the CGuard™ Embolic Prevention System for the treatment of carotid artery disease in Russia. The approval was granted by Russia’s Federal Service for Surveillance in Healthcare (Roszdravnadzor). According to a presentation titled “Carotid Stenting and Surgery in 2016 in Russia” at Novosibirsk Research Institute of Circulation Pathology, the Management Board Report of Russian Society of Angiology and Vascular Surgeons reported that Russia, among all European countries, has the highest rate of mortality from cerebrovascular disease.