Why Inspira Technologies Stock Is Trading Higher Today

Inspira Technologies Oxy BHN Ltd IINN is trading significantly higher Monday after the company announced it signed an exclusive summary distribution agreement with Glo-Med Networks for distribution across six U.S. states.

The summary distribution agreement has an initial term of seven years, but Inspira said it will be followed by a more comprehensive agreement. 

The companies will collaborate on the marketing and deployment of the ART system, an early extracorporeal respiratory support system designed to treat deteriorating respiratory failure patients while they are awake and spontaneously breathing.

Glo-Med Networks also committed to purchase a minimum of 2,121 ART systems and 131,413 disposable units for deployment at hospitals and medical centers.

"The company is developing further infrastructure to penetrate the remaining U.S. states to adopt the ART system," said Joe Hayon, co-founder, president and CFO of Inspira Technologies.

Inspira Technologies is a specialty medical device company engaged in the research, development, manufacture, and marketing of proprietary respiratory support technologies.

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IINN Price Action: Inspira Technologies has traded as low as $2.13 and as high as $9.59 over a 52-week period.

The stock was up 28.3% at $2.95 at time of publication.