Inspira Technologies Oxy BHN Ltd IINN made its public debut when it began trading on the Nasdaq about two weeks ago.
Joe Hayon, co-founder, president and CFO of Inspira, appeared on Benzinga's YouTube show "Power Hour" for an exclusive interview Monday.
Inspira is a specialty medical device company that manufactures proprietary respiratory support technology.
The company's products have the potential to provide patients the ability to utilize oxygen to elevate and stabilize saturation levels, Hayon told Benzinga. This could potentially prevent the need for mechanical ventilation, he added.
The company is currently focused on getting regulatory approval for its products, Hayon said.
Along with the product, Inspira is working on the infrastructure necessary to deploy its product through collaborations with other companies in the space, he said.
Augmented Respiratory Technology: Inspira's main product is its ART500, which has the ability to treat underlying respiratory problems while a patient is awake. Other advantages of the product over a mechanical ventilator include cost of treatment and ease of use.
The product offers direct blood oxygenation which increases circulation and supports the patient's sick lung, Hayon said. He noted the ART500 product has not been used in humans and is not currently FDA approved.
The total addressable market for the ART500 is between $20 billion and $25 billion, Haylon said.
Financial Standing: Inspira had about $5 million in cash prior to its IPO, Hayon said, adding that the company was able to raise an additional $16 million during its IPO. The company believes it has enough cash to continue developing its products through 2023, he said.
See the full interview here:
IINN Price Action: Inspira has traded as high as $6.18 and as low as $3.61 since its IPO on July 14.
At last check Monday, the stock was up 6.189% at $4.19.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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