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InspireMD Inc. (NSPR) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on the development and commercialization of products for the treatment of carotid artery disease and other vascular diseases, including its proprietary CGuard™ stent platform.
InspireMD reported a net loss of $32.0 million for the year, an increase from the $19.9 million loss reported in 2023, attributing the increase to higher operating expenses.
Revenues for the year increased by 13.0% to $7.0 million, driven by growth in existing and new markets, particularly in Europe and Asia.
Research and development expenses rose by 70.8% to $13.6 million, primarily due to increased compensation expenses and costs related to clinical trials and product development.
Selling and marketing expenses increased by 57.0% to $6.1 million, reflecting the company's efforts to build its commercial sales force in anticipation of FDA approval.
General and administrative expenses increased by 37.8% to $15.3 million, mainly due to increased share-based compensation expenses and salary expenses.
InspireMD's liquidity position at the end of 2024 included $18.9 million in cash and cash equivalents and $15.7 million in marketable securities.
The company highlighted its ongoing efforts to obtain FDA approval for its CGuard Prime carotid stent system and its plans to expand its presence in the U.S. market.
InspireMD also reported on its private placement offering and the exercise of warrants, which contributed to its cash position.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the InspireMD Inc. annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.