InspireMD (NYSE:NSPR) shares slid today despite first-quarter results that topped the consensus forecast.
The Tel Aviv, Israel-based company posted losses of -$3.2 million, or -53¢ per share, on sales of $1 million for the three months ended March 31, 2021, for a -64% bottom-line slide on a sales decline of -2.7%.
InspireMD’s EPS of -53¢ came in 7¢ ahead of Wall Street, where analysts were looking for sales of $900,000.
“Our persistent and tireless focus on execution continues as we build on our quest to change the standard of care in the treatment of carotid artery disease and stroke prevention, with CGuard EPS and our novel Micronet mesh,” InspireMD CEO Marvin Slosman said in a news release. “Our Q1 achievements have set up 2021 to be a meaningful year of progress toward our goals of global expansion, commercial revenue growth, progress toward FDA approval, growing our unmatched body of clinical evidence, and differentiating CGuard as a truly unique and preferred stent solution for carotid artery disease.”
The company did not offer financial guidance for the 2021 year. NSPR shares were down -7.6% at $4.38 per share as the market opened today.