InspireMD Inc (NSPR) in Full Rally Mode; Here’s Why
It’s a very rewarding trading day for investors in InspireMD Inc (NYSE:NSPR) with shares up nearly 30%, making the stock Wall Street’s bull of the day. Why the excitement? The Israeli healthcare company has won regulatory approval for its CGuard Embolic Prevention System (EPS) and MGuard Prime in Peru. Dispositivos Medicos E.I.R.L will be in charge of selling and distributing the medical devices in the South American country.
Maximiliano Arboleda, General Manager of Dispositivos Medicos E.I.R.L, commented, “We have been working closely with InspireMD in order to educate key opinion leaders and top hospital chains in preparation for marketing clearance, which we have now secured. The clinical data from both of these products is quite impressive and we expect our physicians to start using the products very quickly.”
“We are excited to officially launch our commercial efforts in Peru following an extensive regulatory review and approval by the Peruvian health authorities,” said Agustin Gago, EVP and Chief Commercial Officer of InspireMD. “The approval of both CGuard™ EPS and MGuard Prime™ in Peru is further recognition of the importance of our products and supports our expansion into Latin America. With a population of more than 30 million and solid GDP growth, Peru is an attractive market and Dispositivos Medicos E.I.R.L is a great partner, as it represents many of the leading global medical device manufacturers in Peru.”
InspireMD seeks to utilize its proprietary MicroNet™ technology to make its products the industry standard for embolic protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse cardiac events. InspireMD intends to pursue applications of this MicroNet technology in coronary, carotid (CGuard™), neurovascular, and peripheral artery procedures.