Inspira Technologies OXY B.H.N., Ltd. (NASDAQ: IINN) is engaged as a medical technology company that is focused on the research, development and commercialization of devices for respiratory treatment. Shares of the medical device company are skyrocketing 74% through early trading on Wednesday, July 6, 2022. Over the past three months, Inspira Technologies has seen average daily volume of 53,760 shares. However, volume of 59.12 million shares or dollar volume of around $124.74 million, has already exchanged hands through early trading.
Shares of Inspira Technologies are surging after the company unveiled a new medical device, the HYLA blood sensor. The new device is non-invasive and does not need to take any blood samples, yet can provide medical professionals with continuous blood monitoring with notifications of any immediate changes in the patient’s condition. The HYLA blood sensor seeks to take advantage of the growth within the Arterial Blood Gas (ABG) analyzer market, which is worth an estimated $2.5 billion.
The HYLA blood sensor is attached outside of tubing that has blood flowing through it. Through the outer walls of the tube, the blood sensor is capable of providing real-time blood monitoring. It is important to note that the HYLA blood sensor has not yet been tested in humans and will need to receive regulatory approval before going to market.
Dagi Ben-Noon, Inspira™ Technologies’ Chief Executive Officer: “Inspira Technologies has set out to change the way we monitor patient health. Today, hospital patients are reliant on physicians manually monitoring their health condition with invasive blood tests, as much as several times a day. We believe that the HYLA blood sensor has the potential to change patient experience and outcomes, through the non-invasive blood sensor, that is intended to perform real-time and continuous blood monitoring, with the intention of alerting physicians of changes in a patient’s clinical condition that could potentially save lives.”
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