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MIAMI - InspireMD, Inc. (NASDAQ:NSPR), known for developing the CGuard™ Prime carotid stent system, today announced the appointment of Michael Lawless as its new Chief Financial Officer. Lawless, with a wealth of experience in the healthcare financial sector, will assume his role on or before June 30, 2025. According to InvestingPro data, Lawless joins at a crucial time as the company maintains a strong liquidity position with a current ratio of 4.36x, though it faces challenges with rapid cash utilization.
Lawless comes to InspireMD after a three-year tenure as CFO of Lifeward, previously ReWalk Robotics, and has held the CFO position at the Life Sciences unit of Brooks Automation, a $200 million segment. His career spans several senior corporate finance roles within the industry. The appointment comes as InspireMD, with a market capitalization of $78 million, reported revenue of $7.03 million in the last twelve months, showing modest growth of 8.5%.
Marvin Slosman, CEO of InspireMD, expressed enthusiasm for Lawless’s upcoming contributions, especially regarding the anticipated launch of CGuard Prime in the U.S. market. Slosman also acknowledged the service of outgoing CFO Craig Shore, praising his role in establishing the company’s financial and operational foundation and his involvement in ensuring a smooth transition.
Lawless shared his commitment to advancing InspireMD’s mission and contributing to its commercial growth and expansion.
In line with his appointment, InspireMD will grant Lawless 465,000 shares of restricted stock and options to purchase 212,000 shares of common stock on the effective date of his employment, under the company’s 2024 Inducement Plan. This grant, approved by the Compensation Committee of InspireMD’s Board of Directors, complies with NASDAQ Listing Rule 5635(c)(4) as an inducement for his hiring. The shares and options will vest over three years, contingent upon continuous employment with the company.
InspireMD aims to set the industry standard for carotid stenting with its MicroNet® technology, focusing on achieving excellent acute results and long-term stroke-free outcomes. The company regularly posts investor-relevant information on its website.
This report is based on a press release statement from InspireMD.
In other recent news, InspireMD reported mixed results for the first quarter of 2025. The company’s earnings per share (EPS) exceeded expectations, coming in at -$0.22 compared to the forecast of -$0.31. However, revenue fell short of predictions, reaching $1.53 million against the anticipated $1.79 million. Despite the revenue shortfall, Piper Sandler maintained an Overweight rating on InspireMD, though it adjusted the stock price target from $4.50 to $4.00. The firm expressed optimism about InspireMD’s progress towards FDA approval for its CGuard Prime stent, now expected in the third quarter of 2025. InspireMD has also revised the timeline for the U.S. launch of its SwitchGuard TCAR system to a later date in 2026. The company is advancing its product pipeline, with the CGuardians II study enrolling at eight active sites. Piper Sandler remains positive about InspireMD’s future, projecting significant value creation within the next 12 to 18 months.
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