UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)

                                InspireMD, Inc.
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                                (Name of Issuer)

                          Common Shares, $0.0001 par value
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                         (Title of Class of Securities)

                                   45779A101
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                                 (CUSIP Number)

 Opaleye Management Inc., 9B Russell Street, Cambridge, MA 02140, 617-997-9567

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                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)

                                   December 31, 2014
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             (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)
|X|  Rule 13d-1(c)
|_|  Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



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CUSIP No. 45779A101                   13G                      Page 2 of 6 Pages


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     1.   Names of Reporting Persons.
Opaleye Management Inc.
          I.R.S. Identification Nos. of above persons (entities only)

          20-5648796

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     2.   Check the Appropriate Box If a Member of a Group
          (See Instructions)
          (a)  |_|
          (b)  |_|
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     3.   SEC Use Only

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     4.   Citizenship or Place of Organization

          Opaleye Management Inc.
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                   5.   SOLE VOTING POWER

                        0 shares
                   -------------------------------------------------------------
                   6.   SHARED VOTING POWER
   NUMBER OF
     SHARES             0 shares
  BENEFICIALLY     -------------------------------------------------------------
 OWNED BY EACH     7.   SOLE DISPOSITIVE POWER
   REPORTING
  PERSON WITH           0 shares
                   -------------------------------------------------------------
                   8.   SHARED DISPOSITIVE POWER

                        0 shares
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     9.   Aggregate Amount Beneficially Owned by Each Reporting Person

          Opaleye Management Inc. -- 0%
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     10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
          (See Instructions)  |_|
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     11.  Percent of Class Represented by Amount in Row (9)

          Opalaye Management Inc. -- 0%
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     12.  Type of Reporting Person (See Instructions)

          Opaleye Management Inc. -- 00 (Limited Liability Company)
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CUSIP No. 45779A101                   13G                      Page 3 of 6 Pages


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     1.   Names of Reporting Persons.
          James Silverman
          I.R.S. Identification Nos. of above persons (entities only)

          N/A
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     2.   Check the Appropriate Box If a Member of a Group
          (See Instructions)
          (a)  |_|
          (b)  |_|
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     3.   SEC Use Only

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     4.   Citizenship or Place of Organization

          James Silverman -- United States
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                   5.   SOLE VOTING POWER

                        0 shares
                   -------------------------------------------------------------
                   6.   SHARED VOTING POWER
   NUMBER OF
     SHARES             0 shares
  BENEFICIALLY     -------------------------------------------------------------
 OWNED BY EACH     7.   SOLE DISPOSITIVE POWER
   REPORTING
  PERSON WITH           0 shares
                   -------------------------------------------------------------
                   8.   SHARED DISPOSITIVE POWER

                        0 shares
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     9.   Aggregate Amount Beneficially Owned by Each Reporting Person

          James Silverman -- 0%
--------------------------------------------------------------------------------
     10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
          (See Instructions)  |_|
--------------------------------------------------------------------------------
     11.  Percent of Class Represented by Amount in Row (9)

          James Silverman -- 0%
--------------------------------------------------------------------------------
     12.  Type of Reporting Person (See Instructions)

          James Silverman -- IN
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CUSIP No. 45779A101                  13G                      Page 4 of 6 Pages


Item 1.

     (a) Name of Issuer:
         InspireMD, Inc.

     (b) Address of Issuer's Principal Executive Offices:
         800 Boylston Street
         Suite 16041
         Boston, MA 02199

Item 2.

     (a) Name of Person Filing:
         Opaleye Management Inc.
         James Silverman

     (b) Address of the Principal Office or, if none, residence:
         Opaleye Management Inc.
         James Silverman
         9B Russell Street
         Cambridge, MA 02140

     (c) Citizenship:
         Opaleye Management Inc. -- Massachusetts
         James Silverman -- United States

     (d) Title of Class of Securities:
         Common Shares, $0.0001 par value (the "Common Shares")

     (e) CUSIP Number:  45779A101

Item 3.  If this statement is filed pursuant to SS.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 S.240.13d-1(b)(1)(ii)(E);

     (f) |_| An employee benefit plan or endowment fund in accordance with
             S.240.13d-1(b)(1)(ii)(F);

     (g) |_| A parent holding company or control person in accordance with
             S. 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) |_| Group, in accordance with S.240.13d-1(b)(1)(ii)(J).


                                                                 Page 5 of 6
Item 4.  Ownership

Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.

(a) Amount beneficially owned:  Opaleye Management Inc. -- 0%
                                      James Silverman -- 0%

(b) Percent of class: Opaleye Management Inc. -- 0%
                            James Silverman -- 0%

(c) Number of shares as to which the person has:

             (i) Sole power to vote or to direct the vote:
                 Opaleye Management Inc. -- 0
                 James Silverman -- 0

            (ii) Shared power to vote or to direct the vote:
                 Opaleye Management Inc. -- 0%
                 James Silverman -- 0%

           (iii) Sole power to dispose or to direct the disposition
                 of:
                 Opaleye Management Inc. -- 0
                 James Silverman -- 0

          (iiii) Shared power to dispose or to direct the disposition
                 of:
                 Opaleye Management Inc. -- 0%
                 James Silverman -- 0%

Item 5. Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following |X|.

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company or Control Person.

Item 8. Identification and Classification of Members of the Group

Item 9. Notice of Dissolution of Group

Item 10. Certification

     (a)  The following certification shall be included if the statement is
          filed pursuant to S.240.13d-1(b):

          By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were acquired and are held in
          the ordinary course of business and 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.

     (b)  The following certification shall be included if the statement is
          filed pursuant to S.240.13d-1(c):

          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.

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.

                                  OPALEYE MANAGEMENT INC.
                                        By: /s/ James Silverman
                                        James Silverman, President

                                  JAMES SILVERMAN
                                        By: /s/ James Silverman
                                        James Silverman, individually

                                                                Page 6 of 6

                                 JOINT FILING AGREEMENT

This Joint Filing Agreement, dated February 13, 2015, is entered into by and
between Opaleye Management Inc., a Massachusetts corporation, and James
Silverman,  an individual (collectively referred to herein as (the "Filers")
Each  of  the  Filers  may  be required to file with the United States
Securities  and  Exchange Commission a statement on Schedule 13G with respect to
common shares, $0.0001 par value of InspireMD, Inc. beneficially owned
by  them  from time to time. Pursuant to and in accordance with Rule 13(d)(1)(k)
promulgated  under  the  Securities Exchange Act of 1934, as amended, the Filers
hereby  agree  to  file  a  single statement on Schedule 13G and/or 13D (and any
amendments  thereto) on behalf of each of such parties, and hereby further agree
to file this Joint Filing Agreement as an exhibit to such statement, as required
by such rule. This Joint Filing Agreement may be terminated by any of the Filers
upon  one  week's  prior  written  notice or such lesser period of notice as the
Filers may mutually agree.

                       Executed  and  delivered  as  of  the  date  first  above
written.

                        OPALEYE MANAGEMENT INC.

                             By: /s/ James Silverman
                             James Silverman
                             President

                        JAMES SILVERMAN

                             By: /s/ James Silverman
                             James Silverman, individually