InspireMD(US:NSPR)2020-11-09 17:40Financial Data and Key Metrics Changes - Total revenues for Q3 2020 were $980,000, a 4.4% increase from $939,000 in Q3 2019, and a 213% increase from $313,000 in Q2 2020 [18][26] - Gross profit for Q3 2020 was $298,000, a 133% increase from $128,000 in Q3 2019, with gross margin rising to 30.4% from 13.6% [28] - Net loss for Q3 2020 was $2,233,000 or $0.06 per share, compared to a net loss of $2,070,000 or $1.26 per share in Q3 2019 [31] Business Line Data and Key Metrics Changes - Sales volume of MGuard EPS increased by 69% from $87,000 in Q3 2019 to $147,000 in Q3 2020, driven by a recent tender win [26] - Sales volume of CGuard Prime EPS decreased by 2.2% from $852,000 in Q3 2019 to $833,000 in Q3 2020, attributed to the return of non-emergency procedures [27] Market Data and Key Metrics Changes - The resurgence of elective procedures in key markets led to a 213% increase in total sales compared to Q2 2020, with nearly 50% of sales occurring in the last month of the quarter [9][18] - New restrictions due to COVID-19 create uncertainty in market impact moving forward [19] Company Strategy and Development Direction - The company aims to broaden market share in endovascular carotid artery stenting (CAS) procedures and position CGuard EPS as a first-line stent solution [22] - Global expansion efforts are focused on high-priority markets like China and Japan, with ongoing discussions for distribution partnerships [24][25] - The company is investing in new leadership to drive growth objectives and enhance commercial focus [8][12][13] Management's Comments on Operating Environment and Future Outlook - Management expresses cautious optimism about market recovery despite ongoing uncertainties due to COVID-19 [7][19] - The company remains committed to improving clinical outcomes and maintaining a focus on stroke prevention and carotid artery disease management [52] Other Important Information - The FDA granted conditional approval for the pivotal study of CGuard EPS, with preparations underway for the trial [10][11] - Key hires include a new Vice President of Business Development and a Senior Vice President of Global Sales and Marketing to enhance strategic initiatives [12][13] Q&A Session Summary Question: How did the company secure Dr. Roubin as a board member? - The connection was made through Dr. Christina Brennan, leading to discussions that highlighted Dr. Roubin's valuable insights and experience [34][35] Question: How will the company strategically move the business during COVID? - The company is focusing on being commercially driven and ensuring that CGuard EPS is prioritized among distribution partners [37][38] Question: What is the timeline for advanced delivery options? - The company aims to have new products to market in a meaningful timeframe within 2021, with progress being made on a new transfemoral delivery system [42][43] Question: When will the CGuard trial begin enrolling patients? - The company is finalizing decisions on trial partners and site selection, with a clearer schedule expected soon [44][45]