The Inspira Technologies Oxy BHN Ltd (NASDAQ: IINN) stock price soared 72.9% higher after revealing that it had signed a 7-year agreement with Innovimed for the potential deployment of 1,522 ART systems in the Czech Republic, Poland and Slovakia.
Investors cheered the deal worth $108 million, which shows that Innovimed has confidence in Inspira’s ART device.
The news comes a day after Inspira filed a Patent Cooperation Treaty application for its novel ART device and the proprietary methods used to reduce the need for invasive mechanical ventilation.
The device is designed to help patients with acute respiratory problems avoid the induced comas and intubation associated with mechanical ventilation procedures.
The ART device is a low-flow early extracorporeal blood oxygenation system designed by Inspira for patients whose condition keeps deteriorating after non-invasive ventilation treatment. The device uses a hemo-protective flow approach to increase blood oxygenation levels while removing CO2 from the blood to help patients avoid invasive mechanical ventilation and its potential side effects.
Dagi Ben-Noon, Inspira Technologies’ CEO, stated: “The PCT patent application for our ART device – the first respiratory device to potentially substitute mechanical ventilation, designed for deployment and use both in and outside of the ICU. ART’s safety profile design is targeted to allow for an early extracorporeal intervention aimed to prevent mechanical ventilation while also offering a cost-benefit solution from a payor perspective.”
Investors interested in Inspira Technologies stock should wait for a deeper pullback before jumping in following today’s parabolic rally.
*This is not investment advice. Always do your due diligence before making investment decisions.
Inspira Technologies stock price.
Inspira Technologies stock price surged 88.8% to trade at $5.08, rising from Thursday’s closing price of $2.69.
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