Inspira™ Technologies Reports First Quarter 2023 Financial Results

May 18, 2023 By Admin in Art World News

As of March 31, 2023, the Company had $11.5 million in cash, cash equivalents, and short-term bank deposits

RA’ANANA, Israel, May 18, 2023 /PRNewswire/ — Inspira Technologies OXY B.H.N. Ltd. (Nasdaq: IINN) (Nasdaq: IINNW) (the “Company” or “Inspira Technologies”), a company aiming to revolutionize acute respiratory care, announced today its financial results for the first quarter ended March 31, 2023.

Dagi Ben-Noon, Chief Executive Officer of Inspira Technologies, stated:

“We believe that this is a very important period for the Company, as we continue to progress towards the regulatory submission of the New ALICE^TM Device with the U.S. Food and Drug Administration (FDA) in the coming months. This is in addition to the ongoing clinical studies of the HYLA^TM non-invasive blood sensor currently underway at Sheba Medical Center in Israel. The progress of these devices represents important building blocks of our flagship INSPIRA^TM ART system, which is advancing in the development process.”

Highlights:

May 11, 2023 – We announced that we are developing the VORTX™ Blood Oxygenator, a disposable oxygenator unit (kit) that uses a unique technology for saturating blood with oxygen and removing carbon dioxide. The VORTX is being designed to be sold separately to an addressable market currently estimated at $1.16 billion as well as being made compatible with our INSPIRA ART system and ALICE device.
March 22, 2023 – We announced a First in Human of HYLA™ Blood Sensor in a clinical study. We also announced the first use of the HYLA^TM in a patient undergoing open-heart surgery at Sheba Medical Center in Israel.
February 13, 2023 – We announced that we received approval from Sheba Medical Center to conduct a clinical study of the HYLA™ Blood Sensor.
January 23, 2023 – We announced that we were granted a patent by the U.S. Patent Office for the INSPIRA™ ART System’s Convertible Dual Lumen Cannula Device and Method of Use. All 20 claims were found to be novel, with inventive step and industrial applicability.

Financial Results for the Three Months Ended March 31, 2023

Research and development expenses for the three months ended March 31, 2023, were $2.0 million, compared to $1.5 million for the corresponding period in 2022. The increase is a result of the Company’s recruitment of employees and the expanded research and development of its new technologies and operations.

Marketing expenses for the three months ended March 31, 2023, were $168 thousand compared to $472 thousand for the corresponding period in 2022. The decrease is attributable to decreases in share-based compensation expenses and a reduction in marketing activities. The marketing department increase its efforts in the first quarter of 2022 with respect to brand awareness and exploring go-to-market capabilities.

General and administrative expenses for the three months ended March 31, 2023, were $1.0 million, compared to $1.5 million for the corresponding period in 2022. The decrease resulted primarily from a decrease in share-based compensation expenses.

Finance income for the three months ended March 31, 2023, was $368 thousand, compared to $2.2 million for the corresponding period in 2022. The change in finance income resulted primarily from the calculation of the fair value of the Company’s financial equity liabilities to pre-initial public offering (IPO) and IPO investors, in addition to the fluctuation in the U.S. dollar – New Israeli Shekel exchange rate during the first quarter of 2023.

Finance expenses for the three months ended March 31, 2023, were $112 thousand, compared to $25 thousand for the corresponding period in 2022.

Net loss for the three months ended March 31, 2023, was $3.0 million, compared to a net loss of $1.3 million for the three months ended March 31, 2022.

Balance Sheet Highlights

Cash, cash equivalents and short-term bank deposits were $11.5 million as of March 31, 2023, compared to $13.9 million as of December 31, 2022.

Financial liabilities at fair value totaled $431 thousand as of March 31, 2023, compared to $368 thousand as of December 31, 2022. The financial liabilities represent the fair value of the Company’s equity liabilities to pre-IPO and IPO investors.

As of March 31, 2023, the Company’s shareholders’ equity totaled $10 million, compared to shareholders’ equity totaling $12.8 million as of December 31, 2022.

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 (INSPIRA ART), designed to rebalance patient oxygen saturation levels. This technology potentially allows patients to remain awake during treatment while preventing the need for highly invasive, risky, and costly mechanical ventilation systems that require intubation and medically induced coma. The Company’s products have 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

This press release contains express or implied forward-looking statements pursuant to U.S. Federal securities laws. These forward-looking statements and their implications are based on the current expectations of the management of the Company only and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For example, the Company is using forward-looking statements when it discusses its regulatory strategy, the continuation of its progress towards the regulatory submission of the ALICE Device with the FDA, the progress of its clinical studies, and its believe that the progress of its devices represents important building blocks of its INSPIRA ART system. These forward-looking statements and their implications are based solely on the current expectations of the Company’s management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2022 filed with the SEC, which is available on the SEC’s website, www.sec.gov.

US Public Relations
Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
[email protected]

UNAUDITED CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
(US dollars in thousands)


	March 31,		December 31,
	2023		2022

ASSETS
Current Assets:
Cash and cash equivalents		6,362		6,783
Cash deposits		5,136		7,120
Other accounts receivable		371		591
Total current assets		11,869		14,494

Non-Current Assets:
Right of use assets, net		1,004		1,107
Property, plant and equipment, net		535		411
Total non-current assets		1,539		1,518
Total Assets		13,408		16,012

	March 31,		December 31,
	2023			2022

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Trade accounts payables		191			150
Other accounts payable		1,350			1,217
Lease liabilities		307			329
Financial Liabilities at Fair Value		431			368
Total current liabilities		2,279			2,064

Non-Current Liabilities:
Lease liabilities		637			728
Loan from the Israeli Innovation Authority		412			398
Total non- current liabilities		1,049			1,126

Shareholders’ Equity:
Share capital and premium		54,397			53,814
Foreign exchange reserve		(2,222)			(1,928)
Accumulated deficit		(42,095)			(39,064)
Total equity		10,080			12,822
Total Liabilities and Shareholders’ Equity		13,408			16,012

UNAUDITED CONDENSED INTERIM STATEMENTS OF COMPREHENSIVE INCOME
(US dollars in thousands)

	For the Three Months Ended March 31,		For the Year Ended December 31,
	2023	2022	2022

Research and development expenses	2,054	1,560	8,054
Marketing expenses	168	472	1,325
General and administrative expenses	1,065	1,544	5,391
Operating loss	3,287	3,576	14,770
Finance )income(	(368)	(2,196)	(4,678)
Finance expenses	112		181
Loss (profit) before tax	3,031	1,380	10,273
Taxes on income
Loss (profit) for the period	3,031	1,380	10,273
Other comprehensive loss (profit), net of tax:
Items that will not be reclassified to profit or loss:
Exchange profits(losses) arising on translation to presentation currency	(294)	(425)	(2,138)
Total comprehensive loss for the period	3,325	1,805	12,411

CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(US dollars in thousands)
For the Three-Month Period Ended March 31, 2023 (Unaudited):
	Share capital and premium		Adjustments arising from translating financial operation		Accumulated deficit		Total
Balance on January 1, 2023
Changes during the period:		53,814		(1,928)		(39,064)		12,822
Loss for the period		–		–		(3,031)		(3,031)
Other comprehensive loss		–		(294)		–		(294)
Total comprehensive loss		–		((294		(3,031)		(3,325)
Share-based compensation		583		–		–		583
Balance on March 31, 2023		54,397		(2,222)		(42,095)		10,080

Logo: https://mma.prnewswire.com/media/1941810/Inspira_Technologies_Logo.jpg

SOURCE Inspira Technologies

Ruslan Khasanov Brings Cosmic Phenomena Down to Earth in His Mesmerizing Short Film ‘Space Iris’

May 18, 2023 By Admin in Art World News

All images © Ruslan Khasanov, shared with permission

For more than ten years, Ruslan Khasanov (previously) has been enthralled by the ecstatic effects of light, color, and movement, which he expresses in an ongoing series of photographs and videos. Composed of a mixture of liquids like water, oil, and paint, he captures hundreds of high-resolution images that are then edited into a short film titled “Space Iris,” which is accompanied by an original composition by Fabio Fonda. “The iris, with its intricate patterns and colors, shares a striking resemblance to the vibrant and colorful cosmic nebula,” Khasanov says. “Just as the eye is a window to the soul, the nebula serves as a window to the vast universe beyond.”

You might also enjoy his earlier projects “Eye” and “heterochromia iridum,” which you can find among many other pieces, on Behance and Vimeo.

Do stories and artists like this matter to you? Become a Colossal Member today and support independent arts publishing for as little as $5 per month. The article Ruslan Khasanov Brings Cosmic Phenomena Down to Earth in His Mesmerizing Short Film ‘Space Iris’ appeared first on Colossal.

Branding And How Marketers Can Stay Relevant – And Profitable – In A Post-Privacy World

May 18, 2023 By Admin in Art World News

Until now, marketers have lived in a world where they thought they had a binary choice. They could harness quantifiable and measurable performance marketing, or they could invest in brand marketing that was sure to move the hearts and minds of audiences – but not the needle on their KPIs. Or, at least, that was the popular perception in a world of near-perfect performance marketing.

That’s not the world marketers live in anymore. The data-driven construct that allowed companies to plan and spend with high confidence has been replaced by a new model and a new reality. Marketers exist in a privacy-first world where data is constrained, and the big wins don’t come easy.

Calling it the App-ocalypse may sound extreme. But the impact on marketers’ modus operandi since Apple deprecated IDFAs and Google started down the path to phase out third-party cookies is nothing less than seismic.

Marketing needs a new blueprint

From data-driven user acquisition (UA) marketers to performance marketing pros and from lifecycle experts to retention specialists, I have interviewed hundreds of marketers across all app verticals over the last few years. One message comes through loud and clear: targeting on Apple’s iOS is tougher than ever – and you can bet the farm Android will follow suit.

To drive connection and conversion, marketers are under pressure to re-think their UA strategies and how they measure their results. It demands bold and brave approaches that break the playbook. Some UA managers, notably Philippa Layburn, get high marks for being creative in how they harness incomplete data sets. The Senior User Acquisition Manager at Trailmix Games, recently named a Rising Star in the mobile games industry, went one step further to innovate new performance metrics that identify and engage valuable users (and their cohorts) from the get-go.

Other marketing leaders, notably Piyush Mishra, Head of Growth Marketing at Product Madness, are mapping new methodologies that marketers in all verticals, not just gaming, can use to develop consistent and compelling user journeys.

It all starts with an approach that harnesses signals and an always-on experimentation mindset to produce campaign creatives that are memorable and hit the metrics, Mishra told me during a recent podcast interview. The next step is to “keep the ad creative in sync” at every stage, from the ad to the app landing page. It’s an approach that minimizes variables – and risk. It also ensures minimum drop-off in the user journey and maximizes efficiency in media buying.

But there’s a catch. Even teams that are in the enviable position of having the talent to scale winning creatives, the resources to produce equally attractive (and personalized) Custom Product Pages, and the genius to measure the results have to deal with chance and change.

(By way of background, Custom Product Pages – or CPP – refers to the long-awaited feature that allows app publishers to create similar versions of their default Apple App Store product page to highlight specific app content. This powers a consistent user journey from the ad users see to the app landing page – clear messaging marketers can leverage to increase user conversions and decrease user acquisition costs.)

The brand is back

Success in a post-privacy world is highly unpredictable. To make matters worse, the headwinds facing the global App Economy have reached gale-force speeds, turning up the pressure on marketers to conserve cash, not burn it on UA.

And finally, the marketplace has become a monstrously large and massively noisy space where apps compete for audience attention. This is where a strong brand pays dividends.

“Unless you’ve built a brand, the user journey to conversion typically remains longer due to a lack of top-of-the-mind awareness,” Mishra says. Short user attention spans and limited budgets represent a dangerous disconnect marketers can only bridge with a strong brand.

The conclusion runs through my interviews with marketers and C-level leadership like a leitmotiv. They may be struggling with the lack of data, but they are overwhelmed by the requirement to establish a brand that will win them consumer loyalty and trust for the longer term (and boost customer lifetime value in the process).

Fighting smart with strong brand

The good news: marketers are beginning to grasp the value brand adds in today’s environment. They recognize the decisive role brand plays in the customer journey. It’s what gets people’s attention, it’s what drives their decision, and finally, it’s what keeps them coming back. Even better, they are building cross-functional teams and talent to capitalize on the brand opportunity.

The not-so-good news: marketers’ efforts are at a crossroads. While it’s clear that even the best performance marketing can’t compensate for a weak brand, the pathway to drive positive margins and brand strength is less defined.

The market needs data and analysis that answer key questions about the real and measurable value of brand. Fortunately, the latest BRAG Index, which stands for Brand Relative App Growth Index, provides actionable insights, informed by data, that marketers can harness to ask and answer tough questions. How does brand impact app installs and growth? What allows outperforming apps to maintain their edge and momentum? Why does user sentiment matter?

The resource, published by independent mobile growth platform Digital Turbine, Inc., and Apptopia Inc., an app intelligence provider, distills and deconstructs the winning strategies that distinguish the market leaders from the laggards into their component parts. [Disclosure: Digital Turbine retains my services as an online talent and video podcast host.]

Specifically, the index identifies four strategies winning apps have internalized to punch above their weight.

Community Marketing – Here the focus is on customer connection, either through catering to a niche community or enabling users in that community to amplify and promote the app to their networks organically. Companies that harness this strategy orchestrate marketing tactics to create intimate and targeted campaigns that resonate with a micro-community for maximum impact.
Product-Led Growth – Innovations and features are the main attraction, and effective advertising echoes the benefits of both to attract new audiences or extract additional value from existing users. In some cases, product quality fuels organic growth. In others, loyalty programs or efforts to incentivize users to recommend an app to friends and family accelerate the positive dynamic.
Advertising Execution – From creative storytelling to compelling creatives, the key is not the channels, formats or approaches in the marketer toolbox. It’s how companies wield these component pieces to deliver consistent experiences and, ultimately, outgrow their peers.
Device Integration – There’s strength in numbers, and partnerships are the core of competitive edge. Apps that choose this strategy benefit from being deeply integrated into the device experience. Whether the app is preloaded on the mobile phone or immediately visible on the home screen, the lack of friction enables easy discovery, encourages frequent use and breeds trust.

By analyzing a combination of brand performance tracking and deep app performance metrics, the index spotlights the winning apps and highlights the strategies companies across the spectrum – from startups eager to make their mark to established players resolved to hold onto market share – have executed to build strong brand and beat the market.

Brands with reason to BRAG

The apps with top BRAG-ing rights also harnessed these strategies to unlock their Brand Power. This metric, informed by research conducted by audience targeting company GWI, measures the number of consumers that had expressed awareness, interest and consideration in installing an app. Comparing intent with action (install and engagement data from Apptopia) produces what Digital Turbine calls a “new full-funnel app performance metric.”

The index identifies five high performers (Top BRAG-gers) across five app categories.

BRAG Index III

Digital Turbine and Apptopia

Streaming Video: Tubi – By harnessing product-led growth, Tubi rose above the noise in a sea of free streaming apps. Moreover, the company scored a positive app review sentiment of 92%, more than double that of its closest competitor.
Music & Audio: Audiomack – The music streaming app literally pumped up the volume on all marketing channels. More importantly, it did this after repeatedly testing efficiencies with different mobile ad networks and Search Ads on iOS – and both added up to exceptional advertising execution.
Shopping: TEMU – This may not be the leading name in retail, but that’s where the index makes good on its promise to pick up on the fast-movers poised to have a massive impact. Here the differentiator is advertising execution. The company used advertising strategically to reach a leading position in the app store before unveiling the “Shop like a Billionaire” tagline during its Super Bowl commercial spot. The ad communicated a strong and consistent brand message reinforced when viewers went to the app store to find Temu already held the number one spot.
Social Media: TikTok – The social media app relied on device integration (preloads) to cement its market share and reach new audiences. Removing the friction in the journey, making it dead simple for users to discover and use their app, didn’t just fuel additional growth for the market giant. The index reports following this strategy allowed TikTok to win over users despite GWI survey results that “showed the app had poor customer sentiment.”
Travel: Hopper – While it may not be a brand superpower, it outperforms its Brand Power thanks to compelling ads on TikTok and other social networks. The company didn’t just deliver an entertaining message; it turned social media into an effective UA channel to increase buzz and decrease costs.

Significantly, the winning apps in their category don’t always have the most installs. Instead, these apps converted the greatest percentage of their Brand Power.

Give brand meaning

As the popular industry adage tells us: When times are good, you should advertise. When times are bad, you must advertise.

But marketers must also find new efficiencies. The good news is that efforts to build strong brand pay dividends at every stage in the funnel. The value is real and tangible whether it materializes in higher installs or deeper loyalty. The not-so-good news is that quantifying what defines a strong brand and how to build one is never as black and white. At times, it feels like a black box.

Now, more than ever, marketers require a framework that unravels the alchemy of brand and unlocks the blend of art and science in marketing. It’s where reports like this can be foundational, providing marketers a roadmap they can follow to “wash, rinse and repeat” strategies to build strong brand with remarkable results.

The report is available here.

ICS 2023: The fine art of storytelling

May 18, 2023 By Admin in Art World News

ICS 2023: The fine art of storytelling, Marketing & Advertising News, ET BrandEquity

Sandeep Sharma, Dinesh Joshi, Karishma Bhagi, Saumya Jain, Samarpita Samaddar, Shivanjali Singh and Pooja Pathak (L-R)

In a competitive world, where there are numerous brands fighting for the consumer’s attention, it becomes extremely critical for brands to stand out and put the message across in a unique manner.

At the India Communication Summit 2023, Saumya Jain, senior officer, content and community, ETBrandEquity.com moderated a panel discussion to decode the fine art of storytelling with Karishma Bhagi, lead – corporate communications, South Asia, Kellogg Company, Dinesh Joshi, head – corporate communications, HP India market, Sandeep Sharma, executive director (corporate communication and branding), IndianOil, Shivanjali Singh, head – corporate communications, Vodafone Idea, Samarpita Samaddar, India communications director, Bumble, and Pooja Pathak, founder and director, Media Mantra.

Samaddar of Bumble opened the discussion by highlighting how in today’s era where the cultural and media landscape is ever evolving, innovation in communication strategies is crucial. Especially now, where the world is saturated with information.

Additionally, it is important to know who the brand is really communicating with. “Unless you know who you are talking to, you wouldn’t know how to talk to them,” she said.

HP India’s executive created a parallelism between four P’s of marketing and four P’s of storytelling, namely, people, problem, product and possibilities.

But why is it important to drive consumers via stories to a brand?

From childhood, people are conditioned to listen to stories. But stories can have different forms and in every way as life moves, a story is happening. This is what people look forward to, Sharma added.

Over the years, Bhagi shared the evolution of storytelling happened decades ago through cave paintings and mythological stories of gods. Those stories built memorability in us and that is exactly what brands are trying to do today as well.

The Vodafone Idea executive added, “In earlier times, storytelling was one way to gain attention. But today, it has become more participative, more interactive and more immersive.”

Because of such technological advancements, storytelling is happening more on digital mediums. This is also why the attention span is getting shorter and the stories brands tell have to be engaging yet prompt.

Moving further, Pathak put focus on a few do’s and don’ts when it comes to storytelling. “Make the story more authentic, consistent and definitely transparent. This will help brands create well refined and well defined content,” she said.

Joshi further suggested following the ABCD of storytelling, which translates to being authentic, bold, clear and diverse.

The IndianOil executive wrapped the discussion and said, “Your story should be visually very appealing and the communication should be clutter-free. Also, don’t seek attention for the sake of it.”

ICS 2023: The public affairs link between business, policy and society

The panel highlighted talk points around the current policy environment and the role of ESG in influencing policymakers. The experts also dived deep into the change in strategic communications, public relations and its impact.

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At the India Communication Summit 2023, executives from IndianOil, Vodafone Idea, Bumble, Kellogg, HP India and Media Mantra got into a discussion to decode the fine art of storytelling and how it has evolved over the years.

Updated On May 18, 2023 at 04:48 PM IST