It’s been a month since small-cap company InspireMD (NYSEAMERICAN:NSPR) reached a new 52-week low. Since then, the Israel-based company has made a number of positive announcements. On these occasions, InspireMD has seen its stock climb, which has grabbed the attention of investors worldwide. Today just so happens to be one of those days.
What’s Going On?
It is still early on in the trading day, which makes InspireMD’s jump of nearly 20% pretty impressive. Why? Considering the market is open for another 4 hours, I would suspect that the stock is only going to keep climbing from here on out.
Again, why? Well, the stock can be seen climbing every few seconds or so, which makes me think that investors are feeling fairly optimistic about the company’s latest announcement. As of this writing, InspireMD is trading at $0.22, which puts the NSPR stock up $0.03, or 17.62%. The small-cap company currently has a market cap of 11.28 million.
The Announcement
On Tuesday, InspireMD disclosed that its own system, the CGuard Embolic Prevention System (EPS), was featured at the Leipzig Interventional Course. The system was featured in a live case transmission. The Leipzig Interventional Course commenced today, January 30, and will end on Friday, February 2. The event involves a number of lectures from top interventional centers.
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Aside from witnessing a jump in its stock, being featured at the Leipzig Interventional Course is great news for the company. It is also great publicity for its CGuard system. During the live case transmission, two Italian vascular surgeons performed a live endovascular procedure that featured InspireMD’s CGuard system.
We’ve known for a while about the company’s EPS. However, this is the first time the public had seen it featured in a live case transmission. This, to no surprise, is probably one of the main reasons the stock is climbing today. Or, it could just be investors feeling positive about the system in general.
After announcing on January 3 that the system had received regulatory approval in India, the stock immediately grabbed the attention of investors. Even Chief Commercial Officer Agustin Gago stated that the approval of the system in the country of India marks a “commercial milestone” for InspireMD as it continues “to expand our global footprint.”
Additionally, investors were aware that InspireMD was to have its system featured at LINC, which could also explain the jump. It was announced on Friday, January 26 that this small-cap company was to be featured, so that could mean investors were waiting all weekend to hear more about it. Then, when it was disclosed that the live case transmission was performed successfully, it might have reiterated what investors were thinking over the weekend.
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What do you think?
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