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Inspira (IINN) Advances Foothold in Europe With Extended Deal
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Inspira Technologies OXY B.H.N. Ltd. (IINN - Free Report) , a major player in the field of acute respiratory care solutions, has taken a significant step toward expanding its market presence in the European Union. The recent announcement of an extended service agreement with Innovimed Sp. z o.o is aimed at supporting clinical trials of the INSPIRA ART medical devices.
This underscores Inspira's commitment to enhancing patient outcomes and solidifying its foothold in the region's growing respiratory care landscape.
Strategic Agreements Pave the Way
The extended service agreement complements a previously announced strategic agreement between Inspira and Innovimed. This collaboration is specifically tailored for conducting clinical pilot studies of the innovative INSPIRA ART medical devices. This partnership covers every European country, signifying a strategic alignment with Inspira's broader market expansion objectives.
A Multifaceted Approach to Market Expansion
Inspira's collaboration with Innovimed goes beyond mere geographical reach. With strategic headquarters in Europe, Innovimed's operational excellence and market insights provide a valuable advantage for Inspira.
According to Inspira, by leveraging Innovimed's expertise and deep understanding of emerging markets, it is well-positioned to navigate the intricate regulatory and operational landscape of the European Union. The company has laid the groundwork for its market entry with summary distribution agreements in Poland, Czech Republic and Slovakia.
Revolutionizing Acute Respiratory Care
Inspira's medical devices, designed to enable breathing without traditional lung-based systems, hold the promise of transforming acute respiratory care. With a focus on reducing mortality rates and associated risks, such as bacterial infections and coma, these devices challenge the status quo of invasive mechanical ventilation methods. By addressing critical shortcomings of existing technologies, Inspira aims to make a substantial impact on the lives of the 20 million patients who require respiratory support each year.
Image Source: Zacks Investment Research
Dagi Ben-Noon, CEO of Inspira Technologies, emphasizes the significance of this extended Service Agreement. He believes that as the company progresses toward future commercialization, this partnership lays a sturdy foundation for achieving widespread acceptance and adoption of its innovative respiratory care solutions.
Market Prospect
According to a Spherical Insights report, the global acute respiratory distress syndrome (ARDS) market is set for substantial growth. It is projected to rise from $980.4 million in 2021 to $2.1 billion by 2030, at a CAGR of 7.9% during the forecast period. The driving forces behind this growth include improved healthcare facilities, increased research and drug development, technological advancements and higher healthcare investments.
Per the report, COVID-19’s infectious nature led to a surge in ARDS cases, especially during the pandemic's height and in its aftermath. Hospitalized COVID-19 patients experienced ARDS, with around 33% affected, as reported by the Acute Respiratory Distress Syndrome Possible Mechanisms and Therapeutic Management study in pneumonia. This alarming statistic contributed to the rise in demand for ARDS treatments, further bolstering the market.
Price Performance
In the past year, IINN shares have declined 14% against the industry’s rise of 0.8%.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and from $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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Inspira (IINN) Advances Foothold in Europe With Extended Deal
Inspira Technologies OXY B.H.N. Ltd. (IINN - Free Report) , a major player in the field of acute respiratory care solutions, has taken a significant step toward expanding its market presence in the European Union. The recent announcement of an extended service agreement with Innovimed Sp. z o.o is aimed at supporting clinical trials of the INSPIRA ART medical devices.
This underscores Inspira's commitment to enhancing patient outcomes and solidifying its foothold in the region's growing respiratory care landscape.
Strategic Agreements Pave the Way
The extended service agreement complements a previously announced strategic agreement between Inspira and Innovimed. This collaboration is specifically tailored for conducting clinical pilot studies of the innovative INSPIRA ART medical devices. This partnership covers every European country, signifying a strategic alignment with Inspira's broader market expansion objectives.
A Multifaceted Approach to Market Expansion
Inspira's collaboration with Innovimed goes beyond mere geographical reach. With strategic headquarters in Europe, Innovimed's operational excellence and market insights provide a valuable advantage for Inspira.
According to Inspira, by leveraging Innovimed's expertise and deep understanding of emerging markets, it is well-positioned to navigate the intricate regulatory and operational landscape of the European Union. The company has laid the groundwork for its market entry with summary distribution agreements in Poland, Czech Republic and Slovakia.
Revolutionizing Acute Respiratory Care
Inspira's medical devices, designed to enable breathing without traditional lung-based systems, hold the promise of transforming acute respiratory care. With a focus on reducing mortality rates and associated risks, such as bacterial infections and coma, these devices challenge the status quo of invasive mechanical ventilation methods. By addressing critical shortcomings of existing technologies, Inspira aims to make a substantial impact on the lives of the 20 million patients who require respiratory support each year.
Image Source: Zacks Investment Research
Dagi Ben-Noon, CEO of Inspira Technologies, emphasizes the significance of this extended Service Agreement. He believes that as the company progresses toward future commercialization, this partnership lays a sturdy foundation for achieving widespread acceptance and adoption of its innovative respiratory care solutions.
Market Prospect
According to a Spherical Insights report, the global acute respiratory distress syndrome (ARDS) market is set for substantial growth. It is projected to rise from $980.4 million in 2021 to $2.1 billion by 2030, at a CAGR of 7.9% during the forecast period. The driving forces behind this growth include improved healthcare facilities, increased research and drug development, technological advancements and higher healthcare investments.
Per the report, COVID-19’s infectious nature led to a surge in ARDS cases, especially during the pandemic's height and in its aftermath. Hospitalized COVID-19 patients experienced ARDS, with around 33% affected, as reported by the Acute Respiratory Distress Syndrome Possible Mechanisms and Therapeutic Management study in pneumonia. This alarming statistic contributed to the rise in demand for ARDS treatments, further bolstering the market.
Price Performance
In the past year, IINN shares have declined 14% against the industry’s rise of 0.8%.
Zacks Rank and Key Picks
Inspira currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) .
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and from $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. It currently carries Zacks Rank #2 (Buy).
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.