Icad Inc Stock Price, News & Analysis

iCAD anticipates first-quarter 2021 revenues to exceed $8.1 million, reflecting significant growth compared to 2020. Key contributors include the successful market penetration of its ProFound AI products and Xoft Therapy. Cash equivalents stand at approximately $46.9 million, bolstered by a recent public offering of $25 million. Additionally, iCAD's CFO will depart in early May, prompting a search for a successor. While the preliminary results are promising, they are subject to change and may significantly differ from final consolidated financial statements.

iCAD announced a retrospective analysis published in the Journal of Medical Screening showing that its ProFound AI for 2D Mammography could detect 48% of interval cancers, including 93% of false negatives and minimal sign lesions. The study involved 37,367 women screened between 2011 and 2012, identifying various categories of interval cancers. This could enhance breast cancer detection rates in organized screening programs, ultimately leading to earlier treatment and improved outcomes for women.

iCAD announced FDA clearance for ProFound AI Version 3.0 for Digital Breast Tomosynthesis, enhancing algorithm specificity by 10% and processing speed by 40%. This third generation AI solution aids in the detection of malignant lesions, improving efficiency for radiologists. Developed using over 5 million images, this software aims to reduce false positives while maintaining cancer detection rates. The CEO highlighted the significance of these advancements in cancer detection, emphasizing the potential for improved clinical decision-making.

iCAD (NASDAQ: ICAD) showcased its expanded ProFound AI platform at the ECR 2021 Congress, featuring ProFound AI Risk, the first decision support tool providing short-term cancer risk estimations based on mammograms. New research indicated ProFound AI for Digital Breast Tomosynthesis (DBT) accurately identified 33.4% of screening exams as low-risk, with 0% false negatives. Additionally, ProFound AI Risk demonstrated superior performance in predicting individual cancer risk, enhancing clinicians' workflow and efficiency. iCAD continues to strengthen its position in innovative cancer detection solutions.

iCAD, Inc. (NASDAQ: ICAD) announced the successful closing of a public offering of 1,393,738 shares at $18.00 per share, raising gross proceeds of approximately $25.0 million as of March 5, 2021. The offering included the full exercise of an option by underwriters for an additional 171,516 shares. The funds will be used for working capital and general corporate purposes. Guggenheim Securities acted as the sole book-running manager. The securities were offered under effective registration statements with the SEC.

NASHUA, N.H., March 3, 2021 - iCAD, a leader in medical technology for cancer detection and therapy, announced that CEO Michael Klein will present at the Cowen 41st Annual Health Care Conference on March 4 at 12:10 PM ET. The presentation will include one-on-one investor meetings, with a live audio webcast available via iCAD’s investor website. iCAD's innovative products, including ProFound AI for mammography and the Xoft System for localized cancer treatment, are designed to improve efficiency and patient outcomes.

iCAD, Inc. (NASDAQ: ICAD) announced a public offering of 1,222,222 shares at $18.00 each, aiming for gross proceeds of approximately $22 million. The offering's closing is anticipated around March 5, 2021, pending customary conditions. Underwriters, led by Guggenheim Securities, have a 30-day option for an additional 171,516 shares. Proceeds will be used for working capital and corporate purposes. The offering is part of an effective shelf registration statement with the SEC, which allows for streamlined capital raises.

iCAD, Inc. (NASDAQ: ICAD) announced plans for a public offering of its common stock. The shares will be sold by the company, with an option for underwriters to purchase an additional 15% of the offering. Proceeds will be utilized for working capital and general corporate purposes. The offering is subject to market conditions, with no guarantee of completion or specific terms. Guggenheim Securities is the sole book-running manager. The securities will be offered under an existing effective shelf registration statement with the SEC, emphasizing full compliance with regulatory requirements.

iCAD reported fourth quarter 2020 revenues of $10.5 million, reflecting a 47% sequential growth driven by a 70% increase in ProFound AI® product revenue. The company saw a 21% revenue growth year-over-year for ProFound AI® products. A significant milestone was reached with the largest single contract in iCAD’s history with Solis Mammography. The net loss narrowed 52% to $0.07 per share. Cash increased 20% to $27.2 million. CEO Mike Klein highlighted strong market interest in ProFound AI® Risk and the company’s effective cost management.