Why Did Inspira Technologies Stock Quadruple Today?

Inspira Technologies OXY BHN Ltd IINN has signed an exclusive distribution agreement with Anita Técnica S.L. (WAAS Group).
The agreement has an initial term of 7 years, subject to product development and regulatory approval.
The parties will collaborate on the marketing and deployment of the ART device, designed to treat deteriorating respiratory failure patients while awake and breathing.
The ART is an early extracorporeal respiratory support system.
According to the agreement, WAAS Group is committed to purchasing a minimum of 1040 ART devices and 35,360 disposable units for deployment at hospitals and medical centers within seven years.
Price Action: IINN shares closed up 308.09% at $9.59 on Tuesday.