InspireMD Inc (NYSEAMERICAN: NSPR) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has received regulatory approval for a key treatment, leading to excited investors that are sending the stock screaming for the top. Today, we’ll talk about the approval, what we’re seeing from NSPR as a result, and what we’ll be watching for ahead.
NSPR Flies As Peru Approves CGuardTM EPS And MGuard PrimeTM
As mentioned above, InspireMD is having an overwhelmingly strong start to the trading session this morning after the company announced that it has received a key regulatory approval. In a press release issued early this morning, the company announced that Peru’s Ministry of Health has approved the CGuardTM Embolic Prevention System (EPS) and MGuard PrimeTM. In a statement, Agustin Gago, EVP and Chief Commercial Officer at NSPR, had the following to offer:
We are excited to officially launch our commercial efforts in Peru following an extensive regulatory review and approval by the Perfuvian health authorities… The approval of both CGuard EPS and MGuard Prime in Peru is further recognition of the importance of our products and supports our expansion into Latin America. With a population of more than 30 million and solid GDP growth, Peru is an attractive market and Dispositivos Medicos E.I.R.L is a great partner, as it represents many of the leading global medical device manufacturers in Peru.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. This regulatory approval opens up a key market for InspireMD. So, it’s no surprise to see that investors are excited and the stock is making a run for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:13), NSPR is trading at $2.63 per share after a gain of $0.60 per share (29.56%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NSPR. In particular, we’re interested in following the commercialization efforts in Peru, as any opportunity like this is worth paying attention to. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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