InspireMD Inc (NYSEAMERICAN:NSPR) has finalized Diverse Devices Pty Ltd as its sole distributor for New Zealand and Australia, and has finalized Do Gia Production & Trading JSC as its exclusive supplier in Vietnam.
Agustin Gago, Chief Commercial Officer and EVP of InspireMD, expressed that they are delighted to report these two additional suppliers in the Pacific Rim, which exhibits the continuation of their planned expansion into the Asian region and further expand their international distribution footprint. Their associates have robust physician networks across all the applicable clinical specialties that cure carotid artery ailment in their respective regions.
These deals follow similar announcements in Taiwan and Hong Kong. The Asia-Pacific region exhibits an important and sizable market provided the popularity of carotid stenting as a chosen alternative to vascular surgery. They look forward to reporting additional associations for the region in the imminent months.
InspireMD intends to utilize MicroNet technology to make its items the industry standard for embolic protection and to present a superior solution to the main clinical challenges of current stenting in patients with an increased risk of distal embolization, no major adverse cardiac events and reflow.
The company plans to pursue applications of this MicroNet know-how in coronary, carotid peripheral artery and neurovascular procedures. Its common stock is listed on the NYSE American under the symbol “NSPR” and certain warrants are listed on the NYSE American under the symbol “NSPR.WS.”
In unrelated news, InspireMD reported that on November 22, 2017 it obtained an additional letter from the NYSE that it is not in acquiescence with Section 1003(a)(ii) pertaining to the stockholders’ net income and equity continued listing standards.
On Monday, the stock price of InspireMD jumped more than 16% to close the day at $0.1634. The gains came at a share volume of 21.91 million compared to average share volume of 1.18 million.