Inspira Technologies OXY (IINN), a specialty medical device company founded in 2018, filed paperwork in March to go public. Its focus is a proprietary technology for respiratory support that has the potential to replace MV (mechanical ventilation), which is a much more invasive procedure for the patient.
The medical research company seeks to raise $17 million through its upcoming IPO by offering about 2.8 million shares at a price range of $5.50 to $6.50 per share. Its official IPO listing date isn't known but is expected to trade sometime the week of April 5, 2021. Funds raised from the IPO are earmarked for further research and development on respiratory treatments and devices.
Inspira Technologies IPO news
Founded in 2018, Inspira Technologies OXY is based in Tel Aviv, Israel. The co-founders are Joe Hayon (also the president and CFO) and Dagi Ben-Noon (also the CEO).
Inspira’s breakthrough technology is Augmented Respiration Technology (ART), which is meant to treat patients with severely deteriorating oxygen saturation levels. The treatment is minimally invasive compared to mechanical ventilation.
In ART, a “minimally invasive cannula is inserted into the jugular vein through a standard medical procedure that resembles a central line or an IV insertion,” according to the company. Medical professionals can oxygenate the blood without the need for a ventilator or an induced coma.
The benefits include instant relief, the patient remains awake, and there's a lower risk than mechanical ventilation. Inspira also says that the treatment is cost-effective and leads to shorter hospital stays and fewer readmissions.
Inspira Technologies OXY (IINN) isn't profitable yet.
Benzinga reported that Inspira Technologies OXY isn't profitable yet, but that its financial records are fairly typical for medical research companies. The Nasdaq filing data for the company showed revenue of $4.3 million, but $8.1 million in total outstanding liabilities.
The ART system is still in development, it isn't FDA-approved, and it hasn't been tested on human patients yet. However, if the ART system gains FDA approval, it could be used to treat COVID-19 and other respiratory diseases.
Inspira Technologies OXY's valuation and stock price
The company has released its terms for the upcoming IPO. IINN intends to offer 2.8 million shares in the IPO at an expected price range of $5.50 to $6.50 per share. This will result in a $17 million IPO deal, underwritten by Benchmark Company.
At the midpoint of the proposed price range ($6.00 per share), the company would have a valuation of $89 million.
When is Inspira Technologies OXY (IINN) going public?
Inspira Technologies OXY is going public very soon. It released the terms of its IPO in March of 2021. It will list on the Nasdaq Exchange under the ticker symbol "IINN" soon.
How to buy Inspira Technologies OXY (IINN) IPO stock
If you’re a retail investor looking to buy the Inspira Technologies IPO, you can do so after the stock is officially listed on the Nasdaq Composite, which could be any day now. Use your traditional or online brokerage to purchase shares once IINN has gone public.