OrbiMed discloses sizable passive stake in InspireMD (NSPR) common stock

Rhea-AI Filing Summary

InspireMD, Inc. (NSPR) received a Schedule 13G filing from institutional investor affiliates of OrbiMed, reporting significant passive ownership of its common stock. As of 12/31/2025, OrbiMed Advisors LLC reported beneficial ownership of 3,133,405 shares, representing 7.4% of InspireMD’s common stock.

OrbiMed Capital GP IX LLC separately reported beneficial ownership of 2,878,704 shares, or 6.8% of the class. Both entities report only shared power to vote and dispose of these shares, with no sole voting or dispositive power, and certify the holdings are not for the purpose of influencing control of InspireMD.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

InspireMD, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

45779A846

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 45779A846

1

Names of Reporting Persons

ORBIMED ADVISORS LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,133,405.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,133,405.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,133,405.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 45779A846

1

Names of Reporting Persons

OrbiMed Capital GP IX LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,878,704.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,878,704.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,878,704.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.8 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: InspireMD, Inc.
(b)	Address of issuer's principal executive offices: 6303 Waterford District Drive, Suite 215, Miami, Florida 33126
Item 2.
(a)	Name of person filing: OrbiMed Advisors LLC OrbiMed Capital GP IX LLC
(b)	Address or principal business office or, if none, residence: 601 Lexington Avenue, 54th Floor New York, NY 10022
(c)	Citizenship: Please refer to Item 4 on each cover sheet for each filing person.
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 45779A846
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: OrbiMed Advisors LLC: 3,133,405 OrbiMed Capital GP IX LLC: 2,878,704
(b)	Percent of class: OrbiMed Advisors LLC: 7.4% OrbiMed Capital GP IX LLC: 6.8%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: OrbiMed Advisors LLC: 0 OrbiMed Capital GP IX LLC: 0
	(ii) Shared power to vote or to direct the vote: OrbiMed Advisors LLC: 3,133,405 OrbiMed Capital GP IX LLC: 2,878,704
	(iii) Sole power to dispose or to direct the disposition of: OrbiMed Advisors LLC: 0 OrbiMed Capital GP IX LLC: 0
	(iv) Shared power to dispose or to direct the disposition of: OrbiMed Advisors LLC: 3,133,405 OrbiMed Capital GP IX LLC: 2,878,704
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Reporting Person holds 7.4% of the shares of Common Stock in the aggregate on behalf of other persons who have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, such securities. OrbiMed Advisors LLC exercises investment and voting power over the shares of Common Stock through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the shares of Common Stock reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ORBIMED ADVISORS LLC

Signature:	/s/ Carl L. Gordon
Name/Title:	Carl L. Gordon/Member
Date:	02/17/2026

OrbiMed Capital GP IX LLC

Signature:	/s/ Carl L. Gordon
Name/Title:	Carl L. Gordon/Member
Date:	02/17/2026

FAQ

What stake in InspireMD (NSPR) does OrbiMed Advisors LLC report?

OrbiMed Advisors LLC reports beneficial ownership of 3,133,405 InspireMD common shares, representing 7.4% of the outstanding class. This position is held with shared voting and dispositive power, reflecting a sizable institutional stake in the company’s equity.

How much of InspireMD (NSPR) stock does OrbiMed Capital GP IX LLC own?

OrbiMed Capital GP IX LLC reports beneficial ownership of 2,878,704 InspireMD common shares, equal to 6.8% of the class. The filing shows only shared power to vote and dispose of these shares, with no sole authority reported by the entity.

Is OrbiMed’s InspireMD (NSPR) stake reported as passive or activist?

The Schedule 13G filing certifies OrbiMed’s InspireMD holdings are not acquired or held to change or influence control of the issuer. This language characterizes the position as passive, rather than part of an activist or control-seeking strategy.

Who ultimately has voting and investment power over InspireMD (NSPR) shares held by OrbiMed?

The filing states OrbiMed Advisors LLC exercises investment and voting power through a management committee of Carl L. Gordon, Sven H. Borho, and W. Carter Neild. Each committee member disclaims beneficial ownership of the InspireMD shares reported in the document.

On whose behalf does OrbiMed hold its InspireMD (NSPR) shares?

The Schedule 13G explains that OrbiMed Advisors LLC holds 7.4% of InspireMD common stock on behalf of other persons. Those parties have the right to receive dividends or proceeds from the sale of these securities, while OrbiMed exercises shared voting and dispositive power.

What key dates are associated with OrbiMed’s Schedule 13G for InspireMD (NSPR)?

The date of the event requiring the Schedule 13G filing is listed as 12/31/2025. The certification and signatures by Carl L. Gordon, as a member of OrbiMed entities, are dated 02/17/2026, documenting when the ownership information was formally confirmed.