Form 6-K Inspira Technologies For: May 19

Highlights:

Financial Results for the Three Months Ended March 31, 2022

Research and development expenses for the three months ended March 31, 2022, were $1.5 million, compared to $0.6 million for the corresponding period in 2021. The increase is a result of the Company’s recruitment of specialized manpower and expanded development of its activities and operations.

Marketing expenses for the three months ended March 31, 2022, were $472,000, compared to $130,000 for the corresponding period in 2021. The increase is due to the Company’s increase in marketing expenses due to an increase in payroll and share-based compensation expenses. Marketing activities commenced in the first quarter of 2021 and became more intensive with the Company’s need to create brand awareness and explore go-to-market capabilities.

General and administrative (G&A) expenses for the three months ended March 31, 2022 were $1.5 million, compared to $0.8 million for the corresponding period in 2021. The increase resulted primarily from an increase in payroll and related expenses, as well as an increase in costs associated with the Company’s status as a publicly-traded company, following its initial public offering (IPO) on Nasdaq in July 2021, the increase in existing and new expenses included professional fees, director fees, and directors’ and officers’ insurance costs.

Finance income for the three months ended March 31, 2022, was $2.1 million compared to expenses in the amount of $5.6 million for the corresponding period in 2021. The increase in financial expenses or income was due to the calculation of the fair value of the Company’s financial equity liabilities to pre-IPO and IPO investors.

Net loss for the three months ended March 31, 2022, was $1.3 million, compared to a net loss of $7.2 million for the three months ended March 31, 2021.

Balance Sheet highlights

Cash, cash equivalents, and short-term bank deposits were $21.7 million as of March 31, 2022, compared to $23.7 million as of December 31, 2022.

Financial liabilities at fair value totaled $1.4 million as of March 31, 2022, compared to $3.2 million as of December 31, 2021. The financial liabilities represent the fair value of the Company’s equity liabilities to pre-IPO and IPO investors.

As of March 31, 2022, shareholders’ equity totaled $19.8 million, compared to shareholders’ equity totaling $20.3 million as of December 31, 2021.

Inspira Technologies OXY B.H.N. Ltd.

Inspira Technologies is an innovative medical technology company in the respiratory treatment arena. The Company has developed a breakthrough Augmented Respiration Technology (ART), designed to rebalance patient oxygen saturation levels. The Company’s ART technology potentially allows patients to remain awake during treatment while minimizing the need for highly invasive, risky, and costly mechanical ventilation systems that require intubation and medically induced coma. The Company’s product has not yet been tested or used in humans and has not been approved by any regulatory entity.

For more information, please visit our corporate website:
https://inspira-technologies.com/

Forward-Looking Statement Disclaimer

For more details:

Miri Segal, Investor Relations, MS-IR LLC

+917-607-8654 [email protected]

MRK-ARS-025

Copyright © 2018-2022 Inspira Technologies OXY B.H.N. LTD., All rights reserved.

UNAUDITED CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

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UNAUDITED CONDENSED INTERIM STATEMENTS OF COMPREHENSIVE INCOME

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CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(US dollars in thousands)

For the Three-Month Period Ended March 31, 2022 (Unaudited):

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