Icad Inc Stock Price, News & Analysis

iCAD, a global leader in medical technology, reported Q2 2021 revenues of $7.8 million, up 40.6% from $5.6 million in Q2 2020. For the six months ending June 30, 2021, revenues reached $16.5 million, a 36% increase year-over-year. The company recorded a net loss of $3.3 million in Q2 2021, compared to a loss of $2.4 million in Q2 2020. Notably, Therapy revenues surged 109% to $3.0 million. iCAD signed a distribution agreement with Sectra and attained CE Mark approval for ProFound AI® Version 3.0, enhancing its market position in cancer detection and therapy solutions.

NASHUA, N.H., Aug. 02, 2021 – iCAD, a leader in medical technology, announced participation in the Guggenheim MedTech Disruptors Summit. Michael Klein, Chairman and CEO, and Stacey Stevens, President, will engage in a fireside chat on August 10, 2021, at 10:00 AM Eastern Time. This event highlights iCAD's commitment to innovative cancer detection and therapy solutions. The company continues to lead advancements in medical technology from its Nashua, NH headquarters.

iCAD, a leader in cancer detection and therapy solutions, announced it will release its financial results for Q2 and six-months ending June 30, 2021, on August 5, 2021, after market close. This will be followed by a conference call at 4:30 PM ET. The call aims to discuss performance metrics, offering insights into the company’s financial health and strategic direction. Investors are encouraged to join the call to gain a comprehensive understanding of iCAD's progress and outlook.

iCAD's ProFound AI Version 3.0 for Digital Breast Tomosynthesis (DBT) has received CE Mark approval, enhancing the company's position in cancer detection technology. The new version boasts a 10% improvement in specificity and 40% faster processing compared to prior versions. This regulatory milestone allows existing customers to upgrade while introducing the solution to a wider market. Developed using data from over 5 million images, the technology aims to improve diagnostic accuracy and reduce false positives. iCAD also emphasizes ongoing innovation in breast cancer detection.

iCAD (NASDAQ: ICAD) has signed a global distribution agreement with Sectra to expand access to its ProFound AI and ProFound AI Risk technologies. This partnership will promote the tools via the Sectra Amplifier Marketplace, enhancing their availability in facilities worldwide. ProFound AI improves breast cancer screening efficiency and accuracy, while ProFound AI Risk provides personalized two-year breast cancer risk assessments from standard mammograms. The collaboration aims to boost iCAD's presence, particularly in Europe, tapping into recurring revenue segments.

iCAD, a leader in medical technology for cancer detection and therapy, announced participation in three virtual investor conferences in May and June 2021. Michael Klein, Chairman and CEO, will present at:

• The Oppenheimer MedTech, Tools & Diagnostics Summit with a pre-recorded presentation on May 26.
• The 2021 Jefferies Virtual Healthcare Conference on June 1, starting at 3:00 p.m. ET.
• The 18th Annual Craig-Hallum Institutional Investor Conference hosting virtual 1x1 meetings on June 2.

Webcasts and audio archives will be available on their website.

iCAD is highlighting positive developments in its Xoft intraoperative radiotherapy (IORT) technology for brain cancer treatment. A virtual panel discussion will feature prominent experts discussing the benefits and ongoing clinical trials related to the Xoft System, especially its application in treating recurrent glioblastoma (GBM). The GLIOX trial aims to compare outcomes of patients using Xoft IORT plus Bevacizumab against traditional external beam radiation therapy (EBRT). Recent data shows significant improvement in overall survival for patients treated with Xoft IORT.

iCAD reported first-quarter 2021 revenues of $8.6 million, a 32% increase year-over-year, driven by 28% growth in detection revenue and a remarkable 41% rise in therapy revenue. ProFound AI® product revenue rose by 34%, showcasing its continued market acceptance. The company achieved a net loss decline of 86% to $0.07 per share, spurred by a $1.8 million gross margin increase and reduced operating expenses. iCAD ended the quarter with $46.9 million in cash and full repayment of its credit facility, signaling strong financial management.

iCAD announced the release of its financial results for Q1 2021, scheduled for April 28, 2021, after market close. The company, a leader in medical technology for cancer detection and therapy, will host a conference call at 4:30 PM ET to discuss the results. Investors can join the call via domestic and international numbers or through a webcast link provided in the announcement.

This update is vital for stakeholders monitoring iCAD's performance in the medical technology sector.