The shares of InspireMD Inc. (NYSE: NSPR) rose as much as 12.54% in after-market trading to trade at $0.5214. InspireMD stock closed Friday’s regular session at $0.46, a gain of 2.96%. A total of 4.71 million shares of NSPR stock were exchanged, less than the average daily volume of 8.92 million shares of NSPR stock over the last 50 days. Over the year, NSPR stock declined by -36.55% and improved by 13.10% during the previous week. The recent corporate development update has caused the price of NSPR stock to increase.
What were the updates?
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As an industry leader in carotid stenting, InspireMD seeks to use MicroNet technology to offer outstanding acute results and durable, stroke-free outcomes. The NSPR also provides the CGuard Embolic Prevention System (EPS) for reducing stroke risk sustained during treatment of Carotid Artery Disease (CAD).
A recent update on corporate developments was provided by InspireMD last week.
- The shareholders of NSPR voted to reverse the stock split in the ratio of 1:15, which will reduce their outstanding stock from 118 million shares down to 7.9 million shares after the close of trading on April 26, 2021.
- NSPR is also applying for inclusion on the Nasdaq Capital Market, which the Company believes would attract a broader range of investors than its current listing.
- A capital raise of $20.7M has confirmed NSPR’s position to conduct its C-Guardian FDA clinical trial while providing sufficient operating capital to meet its growth and product development objectives, as well as establish CGuard EPS as a leading product in its field.
A combination of InspireMD (NSPR)’s business model, superior technology platform, and timing matched with stenting’s rapid growth leads to CGuard’s position as a market leader in carotid stenting.