Yahoo Finance Inspira (IINN) Unveils Business Targets for 2024-25
Inspira Technologies OXY B.H.N. Ltd. IINN disclosed a new business plan with targets for next-generation technologies over a company conference call today. IINN primarily talked about the progress with its core blood oxygenation technology, the INSPIRA ART (Gen 2).
Inspira plans to strengthen its position in the mechanical ventilation market with its flagship INSPIRA ART (Gen 2) device.
The company is also planning to deploy INSPIRA ART100, its cardiopulmonary support device, in the United States and abroad.
INSPIRA ART (Gen 2) and Its Key Takeaways
The INSPIRA ART (Gen 2) device performs direct blood oxygenation, with the patient potentially being awake and without the need for intubation. It applies adaptive oxygenation technology, leveraging the proprietary HYLA blood Sensor and VORT Orbiting Blood Oxygenation, to deliver oxygen directly into the blood.
With the development of the INSPIRA ART (Gen 2) technology, Inspira targets an opportunity for a share of the global mechanical ventilation market, projected to reach $19 billion by 2030.
INSPIRA ART100 and Its Key Takeaways
The Inspira ART100 device is used during an extracorporeal perfusion circuit to pump blood during short duration cardiopulmonary bypass process lasting six hours or less. It comes with inventive features that make it user-friendly, providing efficient patient care.
Inspira is planning to distribute its 501(k) FDA-cleared INSPIRA ART100 system in multiple sites and countries. Under the existing distribution agreements, it has already received the first purchase order from the U.S. distributor, Glo-Med Networks, Inc. The shipment is scheduled for the fourth quarter of 2024.
The company’s goal is to get rid of traditional mechanical ventilators. In this effort, it plans to leverage ART100 as a penetration, research and development, and regulatory model for INSPIRA ART (Gen 2), the subsequent generation of its technology.
Business Goals for 2024-2025
Inspira is ready to submit its HYLA blood sensor, a vital component of the INSPIRA ART (Gen 2) system, for FDA Clearance. The company is planning to integrate the technology into the next generation of the INSPIRA ART100 device.
Inspira is also on track with phase 2 research and development for its VORTX blood delivery system and phase 3 verification and validation testing of the HYLA blood sensor.
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Industry Prospects
As per a Global Data report, the cardiopulmonary bypass equipment market was valued at $437.8 million in 2023 and is expected to witness a CAGR of more than 1% by 2033. Some of the key factors driving the market growth are the increased prevalence of chronic diseases and technological advancement.
As per market growth, Inspira’s business plan target looks perfect and well-timed.
Other Recent Developments
In May 2024, the first batch of production of ART100 was initiated. Earlier in April, ART100 received the Canadian Standards Association’s (“CSA”) certification of compliance for product quality and safety.
The same month, Inspira signed a term sheet with Beilinson Hospital in Israel for implementing ART100 devices in organ transplant procedures. The main motive behind the term sheet was to test the device in a properly functioning healthcare setup.
In March 2024, Inspira passed through a technological barrier for its for VORTX blood delivery system, by satisfying 100% of regulatory guideline requirements for blood oxygenation and carbon dioxide removal, at various blood flow rates with the pressure gradient on the blood across the device remaining at zero level. With this development, the company has paved the way toward safer and more effective medical devices that reduce patient risk.
Price Performance
Year to date, shares of IINN have surged 32.1% compared with the industry’s 5.6% growth.
Zacks Rank and Key Picks
Inspira currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hims & Hers Health, Inc. HIMS, The Joint Corp. JYNT, and Lantheus Holdings, Inc. LNTH, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hims & Hers Heath stock has surged 196.9% in the past year. Estimates for the company’s earnings have moved north by 5.6% to 19 cents for 2024 in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed the same in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for The Joint’s 2024 earnings per share (EPS) have moved up 61.5% to 21 cents in the past 60 days. Shares of JYNT have surged 45.4% year to date against the industry’s 6.2% decline.
In the last reported quarter, JYNT delivered an earnings surprise of 300%. It has a trailing four-quarter average earnings surprise of 18.75%.
Estimates for Lantheus’ fiscal 2024 EPS have moved north 8.4% to $7.11 in the past 60 days. Shares of the company have risen 30.9% year to date compared with the industry’s growth of 2.7%.
LNTH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.6%. In the last reported quarter, it delivered an earnings surprise of 9.03%.
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