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InspireMD Announces First Quarter 2012 Financial Results
Date:5/8/2012

he Company's major markets during the three months ended March 31, 2012, including Mexico, Israel, Germany, Poland and the Netherlands compared to the same period in 2011. 
  • Gross profit in the quarter was $0.6 million, a decrease of 28.3% or approximately $0.2 million, from $0.8 million during the same period in 2011. The gross margin in the quarter increased to 49.6% from 46.7% during the same period in 2011.
  • Total operating expenses were $3.7 million, compared to $2.0 million in the same period of 2011. This increase was mainly driven by share-based compensation of $0.8 million, increased R&D expenditures relating to the MASTER trial and planned FDA trials of $0.8 million, and other expenses of $0.1 million. 
  • Loss from operations in the quarter was $3.1 million, compared to a loss from operations of $1.2 million in the comparable period in 2011.
  • The net loss for the quarter was $3.1 million, or $0.05 per weighted average share, compared to a net loss of $1.9 million in the comparable period in 2011.
  • The Company ended the quarter with cash and cash equivalents of approximately $3.4 million, as compared to $5.1 million as of December 31, 2011.
  • Achievements in 1Q 2012

  • Enrollment continued in the MASTER Trial which is comparing MGuard™ with the standard of care in STEMI patients. As of May 4, 2012, 370 patients (out of 432 planned) were enrolled.
  • Positive clinical results were reported from the MICAMI trial of MGuard™ at the Cardiovascular Research Technologies (CRT) conference in Washington D.C. This randomized controlled trial showed a significant improvement in microvascular reperfusion for MGuard™ vs. bare metal stents.
  • Dr. James Barry was appointed to the Board of Directors as an independent director. Dr. Barry is a former senior executive at Boston Scientific and has a proven track record of bringing high value medical technolog
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  • SOURCE InspireMD, Inc.
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