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InspireMD Announces Year-to-Date 2011 Progress
Date:5/17/2011

l products beyond MGuard. Our focus is on expanding our clinical data to support our mesh protective stent system and assembling the necessary internal resources to support our growth worldwide. We are excited about our progress, and confident that we are on the right path."

Mr. Ofir Paz, Co-Founder and CEO of InspireMD, commented, "The financings completed during the first quarter enable us to accelerate our clinical efforts, and simultaneously build out our infrastructure, including recruiting seasoned sales and marketing leadership to further grow our global distribution while our clinical trials are underway. We are proceeding with our FDA approval efforts, in collaboration with the Harvard Clinical Research Institute (HCRI), an international leader in design and conduct of coronary device trials. Simultaneously, we are continuing our MASTER Randomized Trial, chaired by Dr. Gregg Stone, Director of Cardiovascular Research and Education from Columbia University in New York, which will enroll 432 patients with a primary endpoint of a complete ST segment resolution post-procedure. I am proud of our clinical progress and continue to believe we are on the right path to develop and commercialize a robust platform technology that will position InspireMD as a leader in the cardiology industry."

On May 16, 2011, InspireMD filed its Form 10-Q for the three months ended March 31, 2011 with the U.S. Securities and Exchange Commission. For the period, total revenue was $1.7 million compared to $2.1 million during the same period in 2010. The change in revenue was primarily attributed to a one time significant revenue recognition of previously recorded deferred revenues in the first quarter of 2010. On a product delivery basis, shipments increased during the first three months of 2011 versus the same period in 2010. The first quarter was impacted by a one-time, non-cash expense of approximately $600,000 for the revaluation of a convertible loan at fair value. '/>"/>

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