What’s going on with NSPR?
InspireMD (NSPR) stock is sharply lower, down 17.26% Thursday afternoon after the Israeli Healthcare company revealed a 1-for-15 reverse split of its common stock, effective April 26. The shares are trading at $0.46 per share.
What does it mean for InspireMD?
The planned reverse stock split moved investors to sell InspireMD (NSPR) shares. The company will still have 150 million authorized shares, but the number of outstanding shares will decrease from about 118 million to 7.9 million and no fractional shares will be issued after the split.
Shareholders of the Israel-based InspireMD, which develops treatment for prevention of stroke, authorized the board on April 14 to create the reverse stock split at a ratio in the range of 1-for-10 to 1-for-20, according to a company statement.
InspireMD Inc has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on NSPR!
InspireMD Inc is the United States based medical device company. It is focused on the development and commercialization of proprietary MicroNet stent platform technology for the treatment of complex vascular and coronary disease. The products of the company are the CGuard carotid Embolic Prevention System (CGuard EPS) and the MGuard Prime Embolic Protection System (MGuard Prime EPS). It generates the majority of the revenue from the sales of CGuard EPS which combines MicroNet and a self-expandable nitinol stent in a single device for use in carotid artery applications. The group operates in Germany, Italy, Belarus, Brazil, and other countries.