{"id":453340,"date":"2021-03-09T06:33:08","date_gmt":"2021-03-09T11:33:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=453340"},"modified":"2021-03-09T06:33:08","modified_gmt":"2021-03-09T11:33:08","slug":"inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\/","title":{"rendered":"InspireMD Announces Fourth Quarter and Year-End 2020 Financial Results"},"content":{"rendered":"<h2>\nManagement to host investor conference call today, March 9, at 8:30am ET<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"left\">TEL AVIV, Israel, March  09, 2021  (GLOBE NEWSWIRE) &#8212; InspireMD, Inc. (NYSE American: NSPR), developer of the CGuard\u2122 Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of Carotid Artery Disease (CAD), today announced financial and operating results for the fourth quarter and year ended December 31, 2020.<\/p>\n<p>Fourth Quarter 2020 and recent highlights:<\/p>\n<ul type=\"disc\">\n<li style=\"margin-top:0in;margin-bottom:7.5pt\">Announced the closing of an upsized underwritten public offering of $20.7 million.<\/li>\n<li style=\"margin-top:0in;margin-bottom:7.5pt\">Announced the addition of renowned interventional cardiologist Gary Roubin, M.D., Ph.D., to the Board of Directors.<\/li>\n<li style=\"margin-top:0in;margin-bottom:7.5pt\">Announced the appointment of leading interventional cardiologist Chris Metzger, M.D., system chair of clinical research at Ballad Health System in Eastern Tennessee as the principal investigator for its planned FDA registration trial for CGuard EPS.<\/li>\n<li style=\"margin-top:0in;margin-bottom:7.5pt\">Secured China-based investment partner for process of seeking regulatory approval and distribution of CGuard EPS in mainland China.\u00a0<\/li>\n<li style=\"margin-top:0in;margin-bottom:7.5pt\">Announced the engagement of Hart Clinical Consultants (HCC), a leading Contract Research Organization (CRO) to conduct the clinical trial of CGuard Carotid Stent System in the United States.<\/li>\n<li style=\"margin-top:0in;margin-bottom:7.5pt\">Conducted multiple presentations regarding CGuard EPS, including a live demonstration, during the Leipzig Interventional Congress.<\/li>\n<li style=\"margin-top:0in;margin-bottom:7.5pt\">Shipments for the quarter were $738,000<\/li>\n<\/ul>\n<p>\u201cIt was a very remarkable, albeit challenging year for us \u2013 and the global community &#8212; and we achieved many important milestones toward our goal of changing the standard of care for the prevention of stroke caused by carotid artery disease,\u201d said Marvin Slosman, CEO of InspireMD. \u201cOur team\u2019s performance during the COVID-19 pandemic has remained steadfast, focused on execution, financial stability and commercial growth.\u00a0 This included maintaining our global presence with CGuard during this most challenging time when elective procedures were impacted.\u00a0 While the market curtailed our ability to grow revenue, and we took an accounting adjustment to Q4 revenue for a one time historical event from 2014, we remained focus on building our business by investing heavily in our strategic plans, human capital, infrastructure, new market and product development opportunities, all to create more rapid growth potential as the impact from COVID normalizes. \u00a0We view 2020 revenue as an unanticipated exception to what otherwise could have been a promising year of growth. As we enter 2021 with more optimism, we reflect on the many foundational achievements 2020 brought to our business.<\/p>\n<p>\u201cMost significantly, in 2020 we received approval of our Investigational Device Exemption (IDE) application to initiate a pivotal study of CGuard\u2122 EPS (C-Guardian) in the United States by the FDA.\u00a0 This triggered a number of critical additions to our team, including renowned interventional cardiologist Gary Roubin, M.D., Ph.D. to our Board of Directors, Dr. Chris Metzger to lead the investigators, a world-class contract research organization (HCC), as well as Christina Brennan, M.D., to assist with trial execution.\u00a0 The culmination of this good work resulted in an oversubscribed public offering which raised proceeds of $20.7M, providing the financial support needed to complete the effort. We are diligently preparing for initiation of the trial.<\/p>\n<p>\u201cIn terms of our global strategy, in 2020 we continued to expand our market presence, including by obtaining registration and distribution for CGuard in Brazil, the largest market for medical devices in Latin America. The Brazilian clearance supports our goals to expand in other Latin and South American markets. We also completed an investment and distribution agreement as part of our strategy to enter mainland China, believed to be the second fastest growing market for peripheral stent procedures, as stroke is the leading cause of death in China. We are currently applying for and planning regulatory and reimbursement approvals in important new markets such as France, Taiwan and Korea and are working on distributor options for Japan to bolster our global footprint.<\/p>\n<p>\u201cFinally, our cash position has improved significantly, after completing a $11.5 million public offering in mid-2020, and a $20.7 million public offering last month as well as other successful equity offerings. We believe that we are now well-positioned financially with the resources needed to execute our global expansion strategy.\u00a0 \u00a0Our company focus is built on the foundational value of our CGuard stent system, supportive of all delivery systems and available to all vascular specialists, resulting in the highest patient care with unmatched clinical outcomes,\u201d concluded Mr. Slosman.<\/p>\n<p>\n        <strong>Financial Results for the Fourth Quarter and Twelve Months ended December 31, 2020<\/strong>\n      <\/p>\n<p>For the three months ended December 31, 2020, revenue decreased by $855,000, or 84.4%, to $158,000, from $1,013,000 during the three months ended December 31, 2019.\u00a0 Revenues were negatively impacted by our settlement of litigation with a former distributor relating to a 2014 transaction.\u00a0 Under the settlement, we agreed to pay them $580,000.\u00a0 Under US GAAP we were required to charge that amount against sales.\u00a0 Excluding such impact, revenue decreased by $275,000, or 27.1%, to $738,000, from $1,013,000 during the three months ended December 31, 2019.\u00a0 This decrease was driven mainly by a 25.2% decrease in sales volume of CGuard EPS from $921,000 during the three months ended December 31, 2019, to $689,000 during the three months ended December 31, 2020, mainly due to the postponement of procedures with CGuard EPS, which are generally scheduled or nonemergency procedures, as hospitals shifted resources to patients affected by COVID-19.\u00a0 The 46.7% decrease in sales volume of MGuard Prime EPS from $92,000 during the three months ended December 31, 2019, to $49,000 during the three months ended December 31, 2020, was also mainly due to the impact of COVID-19, as mentioned above.<\/p>\n<p>For the three months ended December 31, 2020, gross profit decreased by 250.6%, or $649,000, to a negative $390,000, from $259,000 during the three months ended December 31, 2019.\u00a0 This decrease in gross profit resulted from the impact of the $580,000 settlement with our former distributor in 2014 as well as $79,000 decrease in revenues less the related material and labor costs (as mentioned above).\u00a0\u00a0 This decrease was partially offset by a decrease of $10,000 in miscellaneous expenses during the three months ended December 31, 2020. Gross margin (gross profits as a percentage of revenue) decreased to a negative 246.8% during the three months ended December 31, 2020 from 25.6% during the three months ended December 31, 2019, driven mainly by a negative effect on gross margin of 272.5% due to the settlement with our former distributor.<\/p>\n<p>Total operating expenses for the quarter ended December 31, 2020 were $3,328,000, an increase of 20.4% compared to $2,765,000 for the same period in 2019.\u00a0 This increase was primarily due to increases of $363,000 in compensation expenses as we added resources to our clinical, product development and sales infrastructure, $134,000 of Directors\u2019 and Officers\u2019 Liability Insurance expense due to recent economic changes in the insurance industry, $96,000 in development expenses associated with CGuard EPS, mainly related to the new advanced delivery system and accessories, and $75,000 of miscellaneous expense. These increases were partially offset by a decrease in travel expenses of $105,000 in light of restrictions imposed by governments worldwide in order to mitigate the spread of COVID-19.<\/p>\n<p>For the three months ended December 31, 2020, financial expenses increased by 385.2%, or $104,000, to $131,000, from $27,000 during the three months ended December 31, 2019.\u00a0 The increase in financial expenses primarily resulted from changes in exchange rates.\u00a0<\/p>\n<p>Net loss for the fourth quarter of 2020 totaled $3,853,000, or $0.10 per basic and diluted share, compared to a net loss of $2,557,000, or $0.57 per basic and diluted share, for the same period in 2019.<\/p>\n<p>For the twelve months ended December 31, 2020, revenue decreased by $1,236,000, or 33.2%, to $2,485,000, from $3,721,000 during the twelve months ended December 31, 2019.\u00a0 Revenues were negatively impacted by 15.6% due to settlement of our litigation with a former distributor relating to a 2014 transaction under which we agreed to pay them $580,000.\u00a0 Under US GAAP we were required to charge that amount against sales. Excluding such impact, revenue decreased by $656,000, or 17.6%, to $3,065,000, from $3,721,000 during the 12 months ended December 31, 2019.This decrease was driven mainly by \u00a0a 15.3% decrease in sales volume of CGuard EPS from $3,265,000 during the twelve months ended December 31, 2019, to $2,764,000 during the twelve months ended December 31, 2020, mainly due to the postponement of procedures with CGuard EPS, which are generally scheduled or nonemergency procedures, as hospitals shifted resources to patients affected by COVID-19.\u00a0 There was also a 34.0% decrease in sales volume of MGuard Prime EPS from $456,000 during the twelve months ended December 31, 2019, to $301,000 during the twelve months ended December 31, 2020, mainly due to the impact of COVID-19, as mentioned above.<\/p>\n<p>For the twelve months ended December 31, 2020, gross profit (revenue less cost of revenues) decreased by 89.0%, or $673,000, to $83,000, compared to a $756,000 for the same period in 2019. This decrease in gross profit resulted from the impact of the $580,000 settlement with our former distributor in 2014 as well as $198,000 decrease in revenues less the related material and labor costs (as mentioned above).\u00a0 This decrease was partially offset by a decrease of $69,000 in expenses related to upgrades made to our production facilities during the year ended December 31, 2019, which did not reoccur during the year ended December 31, 2020 and a decrease of $36,000 in miscellaneous expenses during the year ended December 31, 2020. Gross margin (gross profits as a percentage of revenue) decreased to 3.3% during the year ended December 31, 2020 from 20.3% during the year ended December 31, 2019, driven mainly by a negative effect on gross margin of 18.3% due to the settlement with our former distributor offset by a 1.3% gross margin increase due to the upgrades made to our production facilities and miscellaneous expenses as mentioned above.<\/p>\n<p>Total operating expenses for the twelve months ended December 31, 2020 were $10,463,000, a decrease of 1.0% compared to $10,572,000 for the same period in 2019.\u00a0 This decrease was primarily due to a decrease of $861,000 in clinical expenses associated with CGuard EPS, mainly related to the IDE approval process, for which an approval from the FDA was received on September 8, 2020, $421,000 in travel expenses in light of restrictions imposed by governments worldwide in order to mitigate the spread of COVID-19, $354,000 due to settlement expenses that were paid to a former service provider pursuant to a settlement agreement during the twelve months ended December 31, 2019,\u00a0 $136,000 in quality assurance and regulatory expenses related to the development of various projects and $129,000 in promotional expenses, primarily related to having already built our social media infrastructure in 2019.\u00a0 These decreases were partially offset by an increase in expenses of $531,000 in development expenses related to CGuard EPS new advanced delivery system and accessories, $400,000 due to the settlement agreement with the underwriter of our prior offerings paid during the twelve months ended December 31, 2020, $386,000 in compensation expenses as we added resources to our clinical, product development and sales infrastructure, $249,000 in our Directors\u2019 and Officers\u2019 Liability Insurance\u00a0expenses, partially due to recent changes in the insurance industry, and $177,000 in regulatory expenses required for new regulatory standards set by the European Union, and $49,000 of miscellaneous expenses.<\/p>\n<p>Financial expenses for the twelve months ended December 31, 2020 was $160,000 compared to $200,000 for the same period in 2019.\u00a0 The decrease in financial expenses primarily resulted from changes in exchange rates.\u00a0<\/p>\n<p>Net loss for the twelve months ended December 31, 2020 totaled $10,544,000, or $0.46 per basic and diluted share, compared to a net loss of $10,040,000, or $4.80 per basic and diluted share, for the same period in 2019.<\/p>\n<p>As of December 31, 2020, cash and cash equivalents were $12,645,000 compared to $5,514,000 as of December 31, 2019. During the first quarter of 2021, the Company raised $35.1 million net through various equity transactions.<\/p>\n<p>\n        <strong>Conference Call and Webcast Details<\/strong>\n      <\/p>\n<p>Management will host a conference call at 8:30AM ET today, March 9, 2021, to review financial results and provide an update on corporate developments.\u00a0 Following management\u2019s formal remarks, there will be a question-and-answer session. \u00a0<\/p>\n<p>Please note that registered participants will receive their dial in number upon registration and will dial directly into the call without delay. Those without internet access or unable to pre-register may dial in by calling: 1-844-854-4417 (domestic), 1-412-317-5739 (international) or 1-80-9212373 (Israel).\u00a0 All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the InspireMD call.<\/p>\n<p>The conference call will also be available through a live webcast found here: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_awi7i-T1A3FMLebFQtpO3bvFzt9c4t5SCgzd6dHs1QRIZSUL27gqzO-P0NrNYuArhyavq8jWva-jYH_h53bZTTfBY0pVdbTmIhfCbwMR_lgihV4Rm-IWAqN19KBRX09NvP9zFJJfLAhLXgJzt2QPW2yiXQjhXwE6_CFhgoVof-w_G3MsrtMJaBuG6aukTRR\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>https:\/\/services.choruscall.com\/links\/nspr210309.html<\/u><\/a>.<\/p>\n<p>Additionally, it will be broadcast live through the Company\u2019s website via the following link: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=_awi7i-T1A3FMLebFQtpO9_R1zV9X8WkguSZAV_ZBb50I-ZQFTCA-DBiZFkRAQmO1kELnvhdQ4Rz5ORxVjifmrLD5T_5asZgn1IpBFGfznyHwCGyCGCFmVI_2W1fVKICU6DKubEVVQiPxfLQnbUmoHwWV0zpOR4dYQeeApkBZFEjnxBGCtBYWpqB3_fft7AH\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>https:\/\/www.inspiremd.com\/en\/investors\/investor-relations\/<\/u><\/a>.<\/p>\n<p align=\"justify\">A webcast replay of the call will be available approximately one hour after the end of the call through June 9, 2021 at the above links.\u00a0 A telephonic replay of the call will be available through March 23, 2021 and may be accessed by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using access code 10152728.<\/p>\n<p align=\"justify\">\n        <strong>About InspireMD, Inc.<\/strong><br \/>\n        <br \/>InspireMD seeks to utilize its proprietary MicroNet\u00ae technology to make its products the industry standard for carotid stenting by providing outstanding acute results and durable, stroke-free, long-term outcomes.<\/p>\n<p align=\"justify\">InspireMD\u2019s common stock is quoted on the NYSE American under the ticker symbol NSPR and certain warrants are quoted on the NYSE American under the ticker symbol NSPR.WS and NSPR.WSB.<\/p>\n<p>\n        <strong>Forward-looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains \u201cforward-looking statements.\u201d Such statements may be preceded by the words \u201cintends,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cplans,\u201d \u201cexpects,\u201d \u201canticipates,\u201d \u201cprojects,\u201d \u201cpredicts,\u201d \u201cestimates,\u201d \u201caims,\u201d \u201cbelieves,\u201d \u201chopes,\u201d \u201cpotential\u201d or similar words. 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\u2019s 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 (i) market acceptance of our existing and new products, (ii) negative clinical trial results or lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) insufficient or inadequate reimbursement by governmental and other third party payers for our products, (ix) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (x) legislative or regulatory reform of the healthcare system in both the U.S. and foreign jurisdictions, (xi) our reliance on single suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain and (xiii) 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. 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\u2019s filings with the Securities and Exchange Commission (SEC), including the Company\u2019s 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\u2019s 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.<\/p>\n<p>\n        <strong>Investor Contacts:<\/strong><br \/>\n        <br \/>Craig Shore<br \/>Chief Financial Officer<br \/>InspireMD, Inc.<br \/>888-776-6804<br \/>craigs@inspiremd.com\u00a0<\/p>\n<p>CORE IR<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=H5wlMsmGb88ToTTHL9QmPO6BlJtL5i3zdo0PucjZjzXU9A5kHLkYb4od-Wu550O5sAXTZxoiOMUjxWuQGVefNdSYx0dfTHR1wQ544HcdqJ-cQvYuhS92h3wMOJ_EpyTC\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>investor-relations@inspiremd.com<\/u><\/a><\/p>\n<table style=\"border-collapse: collapse;margin-right:6.75pt;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:37%;width:37%;min-width:37%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle\">\n            <strong>CONSOLIDATED STATEMENTS OF OPERATIONS <sup>(1)<\/sup><\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"8\" style=\"text-align: center;vertical-align: middle\">(U.S. dollars in thousands, except per share data)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle\">\n            <strong>Three months ended<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: center;vertical-align: middle\">\u00a0<strong>Twelve months ended<\/strong><\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>December 31,<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>December 31,<\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2019<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2019<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Revenues<\/strong>\n          <\/td>\n<td colspan=\"1\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$158<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"1\" style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$1,013<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$2,485<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$3,721<\/td>\n<\/tr>\n<tr>\n<td>Cost of revenues<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">548<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">754<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,402<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,965<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Gross Profit<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(390)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">259<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">83<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">756<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Operating Expenses:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Research and development<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">720<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">522<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,233<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,954<\/td>\n<\/tr>\n<tr>\n<td>Selling and marketing<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">617<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">605<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">2,103<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,396<\/td>\n<\/tr>\n<tr>\n<td>General and administrative<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,991<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,638<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">6,127<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,222<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Total operating expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,328<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,765<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,463<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,572<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Loss from operations<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,718)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,506)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(10,380)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(9,816)<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Financial expenses (income)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">131<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">27<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">160<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">200<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Loss before tax expenses<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,849)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,533)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(10,540)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(10,016)<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Tax expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">24<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">24<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Net Loss<\/strong>\n          <\/td>\n<td colspan=\"1\" style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$(3,853)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"1\" style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$(2,557)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$(10,544)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$(10,040)<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Net loss per share \u2013 basic and diluted<\/td>\n<td colspan=\"1\" style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$(0.10)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"1\" style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$(0.57)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$(0.46)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$(4.80)<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Weighted average number of shares of common stock used in computing net loss per share \u2013 basic and diluted<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">38,009,045<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,449,020<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,686,590<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,089,964<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;margin-right:6.75pt;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"4\" style=\"max-width:69%;min-width:69%;text-align: center;vertical-align: middle\">\n            <strong>CONSOLIDATED BALANCE SHEETS <sup>(2)<\/sup><\/strong><br \/>\n            <strong><br \/>\n              <br \/>\n            <\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"text-align: center;vertical-align: middle\">(U.S. dollars in thousands)<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:69%;width:69%;min-width:69%\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>ASSETS<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\n            <strong>2019<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>Current Assets:<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Cash and cash equivalents<\/td>\n<td colspan=\"1\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$12,645<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"1\" style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$5,514<\/td>\n<\/tr>\n<tr>\n<td>Accounts receivable:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Trade, net<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">476<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">823<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">146<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">150<\/td>\n<\/tr>\n<tr>\n<td>Prepaid expenses<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">334<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">87<\/td>\n<\/tr>\n<tr>\n<td>Inventory<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,415<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,236<\/td>\n<\/tr>\n<tr>\n<td>Receivable for sale of Shares<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">323<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total current assets<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">15,339<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,810<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Non-current assets:<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Property, plant and equipment, net<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">448<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">547<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Operating lease right of use assets<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">1,265<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">937<\/td>\n<\/tr>\n<tr>\n<td>Funds in respect of employee rights upon retirement<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top\">725<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">586<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total non-current assets<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,438<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,070<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total assets<\/strong>\n          <\/td>\n<td colspan=\"1\" style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$17,777<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"1\" style=\"border-bottom: double 15px 3pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$9,880<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;margin-right:6.75pt;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:69%;width:69%;min-width:69%\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>LIABILITIES AND EQUITY<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2020<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2019<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Current liabilities:<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Accounts payable and accruals:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Trade<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$236<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$646<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 15.0px\">Other<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,469<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,469<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total current liabilities<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,705<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,115<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Long-term liabilities:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Operating lease liabilities<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">999<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">653<\/td>\n<\/tr>\n<tr>\n<td>Liability for employee rights upon retirement<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top\">910<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">729<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total long-term liabilities<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,909<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,382<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total liabilities<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,614<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,497<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>Equity:<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Common stock, par value $0.0001 per share; 150,000,000 shares authorized at December 31, 2020 and 2019; 49,264,830 and 3,916,134 shares issued and outstanding at December 31, 2020 and 2019, respectively<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Preferred B shares, par value $0.0001 per share; <br \/>500,000 shares authorized at December 31, 2020 and 2019; 17,303 shares issued and outstanding at December 31, 2020 and 2019, respectively<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td>Preferred C shares, par value $0.0001 per share; <br \/>1,172,000 shares authorized at December 31, 2020 and 2019; 2,343 and 34,370 shares issued and outstanding at December 31, 2020 and 2019, respectively<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<\/tr>\n<tr>\n<td>Additional paid-in capital<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">180,334<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">163,015<\/td>\n<\/tr>\n<tr>\n<td>Accumulated deficit<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(168,176)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(157,632)<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total equity <\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">12,163<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,383<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\n            <strong>Total liabilities and equity <\/strong>\n          <\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$17,777<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: double 15px 3pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$9,880<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>(1) All financial information for the twelve months ended December 31, 2020 is derived from the Company&#8217;s 2020 audited financial statements and all financial information for the twelve months ended December 31, 2019 is derived from the Company&#8217;s 2019 audited financial statements, included in the Company&#8217;s Annual Report on Form 10-K, for the twelve months ended December 31, 2020 filed with the Securities and Exchange Commission.\u00a0 All financial information for the three months ended December 31, 2020 and 2019 is derived from the Company\u2019s unaudited, financial statements.<\/p>\n<p>(2) All December 31, 2020 financial information is derived from the Company&#8217;s 2020 audited financial statements and all December 31, 2019 financial information is derived from the Company\u2019s 2019 audited financial statements, as disclosed in the Company&#8217;s Annual Report on Form 10-K, for the twelve months ended December 31, 2020 filed with the Securities and Exchange Commission.<\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NjQzNCM0MDU0MDYxIzIxODYyNjI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/88dd5f6a-39a6-403f-a0ff-d1215cd833e3\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Management to host investor conference call today, March 9, at 8:30am ET TEL AVIV, Israel, March 09, 2021 (GLOBE NEWSWIRE) &#8212; InspireMD, Inc. (NYSE American: NSPR), developer of the CGuard\u2122 Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of Carotid Artery Disease (CAD), today announced financial and operating results for the fourth quarter and year ended December 31, 2020. Fourth Quarter 2020 and recent highlights: Announced the closing of an upsized underwritten public offering of $20.7 million. Announced the addition of renowned interventional cardiologist Gary Roubin, M.D., Ph.D., to the Board of Directors. Announced the appointment of leading interventional cardiologist Chris Metzger, M.D., system chair of clinical research at Ballad Health System in Eastern Tennessee &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;InspireMD Announces Fourth Quarter and Year-End 2020 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-453340","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>InspireMD Announces Fourth Quarter and Year-End 2020 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"InspireMD Announces Fourth Quarter and Year-End 2020 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Management to host investor conference call today, March 9, at 8:30am ET TEL AVIV, Israel, March 09, 2021 (GLOBE NEWSWIRE) &#8212; InspireMD, Inc. (NYSE American: NSPR), developer of the CGuard\u2122 Embolic Prevention System (EPS) for the prevention of stroke caused by the treatment of Carotid Artery Disease (CAD), today announced financial and operating results for the fourth quarter and year ended December 31, 2020. Fourth Quarter 2020 and recent highlights: Announced the closing of an upsized underwritten public offering of $20.7 million. Announced the addition of renowned interventional cardiologist Gary Roubin, M.D., Ph.D., to the Board of Directors. Announced the appointment of leading interventional cardiologist Chris Metzger, M.D., system chair of clinical research at Ballad Health System in Eastern Tennessee &hellip; Continue reading &quot;InspireMD Announces Fourth Quarter and Year-End 2020 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-09T11:33:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NjQzNCM0MDU0MDYxIzIxODYyNjI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"14 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"InspireMD Announces Fourth Quarter and Year-End 2020 Financial Results\",\"datePublished\":\"2021-03-09T11:33:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\\\/\"},\"wordCount\":2837,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NjQzNCM0MDU0MDYxIzIxODYyNjI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/inspiremd-announces-fourth-quarter-and-year-end-2020-financial-results\\\/\",\"name\":\"InspireMD Announces Fourth Quarter and Year-End 2020 Financial Results - 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