Full Press Release Details
Announces Expected Retirement of its CFO Craig Shore
and CFO Transition in 2025
Florida - December 12, 2024 - InspireMD, Inc. (Nasdaq: NSPR), developer of the CGuard Embolic Prevention
Stent System (EPS) for the prevention of stroke, today announced that Craig Shore, Chief Financial Officer, has decided to retire from
the Company after a successor CFO is identified and appointed. Mr. Shore will remain as CFO until his successor is appointed and will
assist in a smooth and orderly transition.
Slosman, Chief Executive Officer of InspireMD, commented, "Craig has served the company for 15 years with a tireless commitment
to building our business as a global leader in carotid interventions. As we advance our priorities, including potential
U.S. FDA approval in the first half of 2025, along with a heightened focus on the investment community, Craig made this decision confident
in the future of the company and understanding the needs of a growing global business. On behalf of the entire InspireMD organization
and Board of Directors, I would like to thank Craig for his contribution to our success for the past 15 years. It has been a pleasure
working alongside Craig for the past five of those years, and I look forward to him continuing to be a part of our team during this important
has been a tremendous opportunity to contribute to the transformation of InspireMD from an early-stage growth company to a maturing leader
in the field of carotid intervention and stroke prevention. The next chapter for the company will be an exciting time as the business
grows and I have full faith in the pathway to success. I look forward to my personal next chapter and proud to have been a part of this
remarkable journey," noted Mr. Shore.
Company has initiated a search to identify its next Chief Financial Officer.
seeks to utilize its proprietary MicroNet technology to make its products the industry standard for carotid stenting by providing
outstanding acute results and durable, stroke-free long-term outcomes. InspireMD's common stock is quoted on the Nasdaq under the
routinely post information that may be important to investors on our website. For more information, please visit www.inspiremd.com.
press release contains "forward-looking statements." Forward-looking statements include, but are not limited to, statements
regarding InspireMD or its management team's expectations, hopes, beliefs, intentions or strategies regarding the future. Such
statements may be preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims," "believes,"
"hopes," "potential", "scheduled" or similar words. Forward-looking statements include, but are not
limited to, statements regarding InspireMD or its management team's or directors' expectations, hopes, beliefs, intentions
or strategies regarding future events, future financial performance, strategies, expectations, competitive environment and regulation,
including potential U.S. commercial launch. Forward-looking statements are not guarantees of future performance, are based on certain
assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the company's control,
and cannot be predicted or quantified and consequently; actual results may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with our history
of recurring losses and negative cash flows from operating activities, significant future commitments and the uncertainty regarding the
adequacy of our liquidity to pursue our complete business objectives, and substantial doubt regarding our ability to continue as a going
concern; our need to raise additional capital to meet our business requirements in the future and such capital raising may be costly
or difficult to obtain and could dilute our stockholders' ownership interests; market acceptance of our products; an inability
to secure and maintain regulatory approvals for the sale of our products; negative clinical trial results or lengthy product delays in
key markets; our ability to maintain compliance with the Nasdaq listing standards; our ability to generate revenues from our products
and obtain and maintain regulatory approvals for our products; our ability to adequately protect our intellectual property; our dependence
on a single manufacturing facility and our ability to comply with stringent manufacturing quality standards and to increase production
as necessary; the risk that the data collected from our current and planned clinical trials may not be sufficient to demonstrate that
our technology is an attractive alternative to other procedures and products; intense competition in our industry, with competitors having
substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales,
distribution and personnel resources than we do; entry of new competitors and products and potential technological obsolescence of our
products; inability to carry out research, development and commercialization plans; loss of a key customer or supplier; technical problems
with our research and products and potential product liability claims; product malfunctions; price increases for supplies and components;
insufficient or inadequate reimbursement by governmental and other third-party payers for our products; our efforts to successfully obtain
and maintain intellectual property protection covering our products, which may not be successful; adverse federal, state and local government
regulation, in the United States, Europe or Israel and other foreign jurisdictions; the fact that we conduct business in multiple foreign
jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs
of compliance with foreign laws and political and economic instability in each jurisdiction; the escalation of hostilities in Israel,
which could impair our ability to manufacture our products; and current or future unfavorable economic and market conditions and adverse
developments with respect to financial institutions and associated liquidity risk. More detailed information about the Company and the
risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities
and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors
and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. The Company
assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Padala, Managing Director