Capitalizing on the increasing demand for respiratory devices, Inspira Technologies (NASDAQ:IINN) has stirred talks among healthcare investors. As an innovative medical device company in the respiratory care industry, IINN is well-known for its ART system – a cost effective early extracorporeal respiratory support system. To ensure a successful launch, the company recently signed an agreement with GloMed and appointed new key personnel – two catalysts that could position IINN as an emerging leader in the industry. In light of this, anticipation has driven a 35% increase in the PPS over the past few days.
IINN Stock News
For the past few years, IINN has seen impressive growth by capitalizing on its technology, COVID-19 and most importantly – its key personnel. In fact, Dagi Ben-Noon – IINN’s CEO – believes prominent human resources are the key to IINN’s success and growth moving forward. With this in mind, the company recently appointed Daniella Yeheskely-Hayon – an expert in development of artificial lungs – as its newest Chief Technology Officer (CTO). Given her success as R&D director and COO of O2Cure Ltd. – a prominent innovative medical device company, Ben-Noon is bullish her involvement will “help the company achieve its goals as planned”.
With years of experience in the field of blood oxygenation and Extracorporeal Membrane Oxygenation (ECMO) devices, Yeheskely-Hayon has the knowledge and skill to accelerate “the development process of the company’s ART system.” To minimize the need for intubation and medical induced comas, the ART system is designed to treat deteriorating respiratory failure patients while they are awake and spontaneously breathing.- making it an ideal solution for general medical units as well as small rural and urban hospitals.
In light of its competitive edge, IINN recently announced the listing of a component of its ART and ECLS system on the FDA Class I 510(k) exempt list. As part of its efforts to ensure a successful launch, the company announced an agreement with Glo-Med Networks Inc. – a company capitalizing on the growing demand for innovative medical devices and products in both domestic and international markets.
Pursuant to the terms of the agreement, Glo-Med will help expand the company’s ART system to patients across 6 different states. With an initial 7 years term, this agreement is focused on collaborating on the marketing and deployment of the ART system. To deliver on this and maintain exclusivity of IINN’s technology, Glo-Med has committed to purchase a minimum of 2,121 ART systems as well as 131,413 disposable units for distribution to hospitals and medical centers.
While this is already looking promising, IINN’s partnership with GloMed is in no way its first venture. In fact, in Q4 2021, the company signed distribution agreements targeting $174 million across 5 European countries – all of which remain subject to regulatory approvals.
Granted further approval by regulatory authorities, IINN’s president – Joe Hayon – emphasizes the company’s plans to continue “developing further infrastructure to penetrate the remaining U.S. states to adopt the ART system.” Given its global access to customers through long-term partnerships with medical providers as well as its sister company – Med-Stat Consulting Services, Inc – Glo-Med is a prominent partner well-positioned to deliver on IINN’s expansion plans.
Matus Knoblich – Glo-Med’s CEO – is bullish “the ART system may become a game changer for the industry” given that other devices “have been difficult to access due to their high cost and the large human resources they are required to operate.” Knoblich also believes there is huge upside potential because “the COVID-19 pandemic has clearly demonstrated the effectiveness of respiratory devices”.
Media Sentiment
@stockplaymaker1 is watching IINN following its agreement with Glo-Med.
IINN is on investor @notoriousalerts watchlist in anticipation of a breakout as its catalysts play out.
Technical Analysis
Gaining back its momentum, IINN is currently trading at $3.35 with a primary support near 3 and a secondary support at 2.30. Following its run-up, the stock formed a new resistance at 3.47. The RSI is regulating at 61 after being overbought at 70 on February 4th. Accumulation is showing a steady upward trend following its steep fall on January 27th. Meanwhile, the MACD is bearish but is approaching a bullish crossover.
Following the company’s agreement with Glo-Med, IINN saw an impressive 38% run-up. While the RSI is relatively cooling off, it is indicating the stock might be slightly overbought. In light of this and the fact that IINN is trading near its resistance, investors could find now a good entry point to secure a starter position on IINN. From there, investors can average down on in their investment ahead of impending catalysts playing out. If the company gains further approval for its ART system, investors are bullish IINN could hit its previous high of $5.9 sooner than expected.
IINN Stock Forecast
With its new CTO and lucrative distribution agreement with GloMed, IINN is showing major upside potential. These efforts are highlighting the company’s commitment to its mission. With a growing aging population, and rise in COPD and related respiratory diseases, the ART device could potentially disrupt and expand the current acute respiratory treatment market.
Following its regulatory approvals, the company’s competitive ART system could position it as an emerging leader in the lucrative healthcare industry. Taking into consideration the industry’s rapid growth and the notable increase of Omicron cases, IINN is well-positioned to capitalize on the increase in demand for this technology.
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