IceCure Appoints Meir Peleg as Chief Financial Officer

Rhea-AI Summary

IceCure (NASDAQ: ICCM) appointed Meir Peleg as Chief Financial Officer, effective May 17, 2026, and plans to appoint Richard E. Fine, MD, as Medical Director for breast indications in Q2 2026. The company cites strong commercial momentum for ProSense® after FDA clearance in low‑risk breast cancer and an ASBrS recommendation.

IceCure initiated a search for a Chief Technology Officer and said VP of R&D Naum Muchnik will depart effective April 12, 2026. IceCure noted the FDA‑approved ChoICE post‑marketing study for ProSense®.

Positive

• FDA clearance for ProSense® in low‑risk breast cancer
• ASBrS recommendation supporting cryoablation in select patients
• Appointment of Meir Peleg as CFO effective May 17, 2026
• Planned appointment of Dr. Richard E. Fine as Medical Director in Q2 2026
• ChoICE FDA‑approved post‑marketing study for ProSense®

Negative

• Departure of VP R&D Naum Muchnik effective April 12, 2026
• Open CTO search creates near‑term leadership and execution risk

News Market Reaction – ICCM

-4.49% 1.8x vol

8 alerts

-4.49% News Effect

-28.4% Trough in 34 hr 24 min

-$2M Valuation Impact

$46.62M Market Cap

1.8x Rel. Volume

On the day this news was published, ICCM declined 4.49%, reflecting a moderate negative market reaction. Argus tracked a trough of -28.4% from its starting point during tracking. Our momentum scanner triggered 8 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $2M from the company's valuation, bringing the market cap to $46.62M at that time. Trading volume was above average at 1.8x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

CFO experience: over 20 years CFO start date: May 17, 2026 Scaled organizations size: 700+ employees +1 more

4 metrics

CFO experience over 20 years Financial leadership and capital markets experience

CFO start date May 17, 2026 Effective date of Meir Peleg’s appointment as CFO

Scaled organizations size 700+ employees Prior global industrial-tech organizations led by new CFO

Medical Director timing Q2 2026 Planned appointment of Dr. Richard Fine as Medical Director

Market Reality Check

Price: $0.3748 Vol: Volume 356,811 is very cl...

normal vol

$0.3748 Last Close

Volume Volume 356,811 is very close to the 20-day average of 352,144 (relative 1.01), suggesting typical trading activity ahead of this news. normal

Technical Shares at $0.6375 are trading below the $0.81 200-day MA and sit 54.46% under the 52-week high of $1.40, but above the 52-week low of $0.5401.

Peers on Argus

ICCM gained 1.45% while momentum-flagged peers like VNRX and APYX moved down (-5...

2 Down

ICCM gained 1.45% while momentum-flagged peers like VNRX and APYX moved down (-5.06% and -3.02%), indicating today’s move was stock-specific rather than part of a broader Medical Devices rotation.

Historical Context

5 past events · Latest: Mar 17 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 17	Full-year earnings	Positive	-8.9%	Reported record Q4 sales and higher 2025 revenue with narrowed net loss.
Mar 11	Post-market study approval	Positive	+8.9%	FDA approved design for ChoICE post‑market study in low‑risk breast cancer.
Mar 10	Earnings call scheduling	Neutral	+0.3%	Announced date and webcast details for full‑year 2025 results release.
Mar 09	Guideline update	Positive	-2.7%	ASBrS 2026 guide recommended cryoablation for selected low‑risk breast cancer.
Mar 02	Clinical study results	Positive	+10.1%	Independent PLOS One study showed ProSense® safe and effective for fibroadenomas.

Pattern Detected

Recent news has been mostly positive, but price reactions have been mixed, with some favorable clinical and guideline updates sold off while regulatory and trial milestones have at times been rewarded.

Recent Company History

Over the past month, ICCM has reported record 2025 sales and narrowed net loss, secured U.S. FDA approval for the ChoICE post‑marketing study, and benefited from new ASBrS guidance endorsing cryoablation for low‑risk breast cancer. An independent PLOS One study also supported ProSense® safety and efficacy in fibroadenomas. Despite these milestones, share reactions have alternated between gains and pullbacks, so today’s leadership update fits into an ongoing commercialization and clinical validation phase rather than a new strategic direction.

Regulatory & Risk Context

Active S-3 Shelf · $100,000,000

Shelf Active

Active S-3 Shelf Registration 2026-03-20

$100,000,000 registered capacity

An effective Form F-3 shelf dated Mar 20, 2026 registers up to $100,000,000 of Ordinary Shares, warrants or units for issuance from time to time. Usage count is 0, so capacity remained fully available prior to this announcement.

Market Pulse Summary

This announcement highlights IceCure’s effort to reinforce its leadership as ProSense® gains tractio...

Analysis

This announcement highlights IceCure’s effort to reinforce its leadership as ProSense® gains traction: appointing a seasoned CFO with over 20 years of experience and planning a Medical Director focused on breast indications. These moves build on recent regulatory and clinical milestones while the company maintains access to up to $100,000,000 under an effective shelf. Investors may watch execution under the new CFO, progress of the ChoICE post‑marketing study, and continued adoption in low‑risk breast cancer.

Key Terms

cryoablation, u.s. food and drug administration, fda, m&a, +1 more

5 terms

cryoablation medical

"developer of minimally-invasive cryoablation technology that destroys tumors by freezing"

A medical treatment that uses extreme cold to freeze and destroy unwanted tissue, such as small tumors or heart tissue causing irregular rhythms; think of it like applying a focused freezer to stop a problem spot without cutting it out. It matters to investors because devices, tools, and drugs tied to cryoablation, plus clinical results, approval status and insurance coverage, can drive sales, shape market adoption and affect the financial outlook of healthcare companies.

u.s. food and drug administration regulatory

"following U.S. Food and Drug Administration ("FDA") clearance in low-risk breast cancer"

The U.S. Food and Drug Administration is the federal agency that evaluates and enforces safety, effectiveness and labeling standards for medicines, medical devices, vaccines, food and related products before they reach consumers. For investors it matters because FDA approvals, warnings or recalls determine whether a product can be sold, how quickly it reaches the market and how costly compliance will be—changes that directly affect a company’s revenue, costs and stock value.

fda regulatory

"following U.S. Food and Drug Administration ("FDA") clearance in low-risk breast cancer"

The FDA is the U.S. federal agency that evaluates and approves medical drugs, devices, biological therapies and certain foods; think of it as the gatekeeper that decides whether a medical product is safe and effective for patients. For investors, FDA decisions determine whether a company can sell a product, affect expected revenue and introduce regulatory risk, so approvals, rejections or safety warnings can quickly move a company's valuation and stock price.

m&a financial

"brings a data-driven, systematic approach to M&A, and public company governance"

M&A, short for mergers and acquisitions, involves one company combining with or purchasing another company to grow, streamline operations, or gain competitive advantages. For investors, M&A activity can signal potential for increased value, new opportunities, or changes in market dynamics, making it an important factor to watch in the business landscape.

post-marketing study regulatory

"FDA-approved ChoICE post-marketing study evaluating ProSense® cryoablation"

A post-marketing study is research conducted after a drug or medical device is approved and sold to check how it performs in everyday use, tracking long-term safety, side effects, and effectiveness. For investors it matters because results can change sales forecasts, trigger label updates or warnings, lead to additional costs or legal exposure, or open new markets — like a car recall study revealing issues that affect a maker’s reputation and future earnings.

AI-generated analysis. Not financial advice.

Meir Peleg brings over 20 years of financial leadership and experience including with Nasdaq listed companies

IceCure intends to appoint Dr. Richard Fine as Medical Director

CAESAREA, Israel, March 24, 2026 /PRNewswire/ -- IceCure Medical Ltd. (NASDAQ: ICCM) ("IceCure", "IceCure Medical" or the "Company"), developer of minimally-invasive cryoablation technology that destroys tumors by freezing as an option to surgical tumor removal, today announced the appointment of Mr. Meir Peleg as its Chief Financial Officer ("CFO"), effective May 17, 2026.

The appointment comes as IceCure is experiencing strong commercial momentum for ProSense® in the United States and globally following U.S. Food and Drug Administration ("FDA") clearance in low-risk breast cancer and a recommendation by the American Society of Breast Surgeons ("ASBrS") for the use of cryoablation in select low risk breast cancer patients.

"We are pleased to welcome Meir to IceCure as we build strong commercial momentum in the U.S. and globally," stated IceCure's Chief Executive Officer Eyal Shamir. "We believe his extensive experience as a CFO of rapidly growing, publicly traded companies and deep capital markets expertise make him a valuable addition to our leadership team as we scale the business."

Meir Peleg commented, "I am excited to join IceCure at this important stage and support its continued growth as commercial adoption of ProSense® expands. IceCure's strong clinical foundation, growing market acceptance, and clear strategic vision present a compelling opportunity, and I look forward to working with the leadership team to strengthen our financial infrastructure and support global growth."

Meir Peleg is a seasoned public company CFO with deep capital markets experience, uniquely combining a software engineering background with over 20 years of financial leadership. He has a proven track record leading a successful Nasdaq IPO and multiple large-scale capital raises, while scaling global industrial-tech organizations from early growth stages to 700+ employees worldwide. Mr. Peleg brings a data-driven, systematic approach to M&A, and public company governance, having previously served as a strategic partner to CEOs and boards in maximizing shareholder value and driving long-term enterprise growth. He is a Certified Public Accountant in Israel and holds an MBA and a BA in Economics and Computer Science from Bar-Ilan University.

In addition, IceCure plans to appoint Richard E. Fine, MD, FACS in the second quarter of 2026 as the Company's Medical Director to lead breast indications. In this role, Dr. Fine will support IceCure's clinical and educational initiatives in breast cryoablation, including the Company's previously announced FDA-approved ChoICE post-marketing study evaluating ProSense® cryoablation for the treatment of low-risk breast cancer.

Dr. Fine is a breast surgical oncologist and Director of the Breast Program at the Margaret West Comprehensive Breast Center at West Cancer Center & Research Institute in Germantown, Tennessee. Dr. Fine is a nationally recognized leader in the diagnosis and treatment of breast disease, with particular expertise in image-guided breast procedures and minimally invasive technologies.

In alignment with IceCure's corporate strategy and technological roadmap, the Company has initiated a search for a new Chief Technology Officer. Mr. Naum Muchnik, IceCure's Vice President of R&D and Engineering, will be departing his role effective April 12, 2026. IceCure thanks Mr. Muchnik for his contributions during his tenure.

About ProSense®

The ProSense® Cryoablation System is the first and only medical device to receive FDA marketing authorization for the local treatment of low-risk breast cancer with adjuvant endocrine therapy for women aged 70 and above, including patients who are not suitable for surgical alternatives for breast cancer treatment. A full list of benefits and risks can be found on the Company's website.

ProSense® is a minimally invasive cryosurgical tool that provides the option to destroy tumors by freezing them. The system uniquely harnesses the power of liquid nitrogen to create large lethal zones for maximum efficacy in tumor destruction in benign and cancerous lesions, including in the breast, kidney, lung, and liver.

ProSense® enhances patient and provider value by accelerating recovery, reducing pain, surgical risks, and complications. With its easy, transportable design and liquid nitrogen utilization, ProSense® opens the door to fast and convenient office-based procedures for breast tumors.

About IceCure Medical

IceCure Medical (NASDAQ: ICCM) develops and markets advanced liquid-nitrogen-based cryoablation therapy systems for the destruction of tumors (benign and cancerous) by freezing, with the primary focus areas being breast, kidney, bone and lung cancer. Its minimally invasive technology is a safe and effective option to surgical tumor removal that is easily performed in a relatively short procedure. The Company's flagship ProSense® system is marketed and sold worldwide for the indications cleared and approved to date including in the U.S., Europe and Asia.

Forward Looking Statement

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, IceCure is using forward looking statements in this press release when it discusses: the expected timing for Mr. Peleg's commencement as the Company's CFO; the intended appointment of Dr. Richard Fine as Medical Director of the Company; and the Company's search for a new Chief Technology Officer and departure date for its current Vice President of R&D and Engineering.. Historical results of scientific research and clinical and preclinical trials do not guarantee that the conclusions of future research or trials will suggest identical or even similar conclusions. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among others: the Company's planned level of revenues and capital expenditures; the Company's available cash and its ability to obtain additional funding; the Company's ability to market and sell its products; legal and regulatory developments in the United States and other countries; the Company's ability to maintain its relationships with suppliers, distributors and other partners; the Company's ability to maintain or protect the validity of its patents and other intellectual property; the Company's ability to expose and educate medical professionals about its products; political, economic and military instability in the Middle East, specifically in Israel; as well as those factors set forth in the Risk Factors section of the Company's Annual Report on Form 20-F for the year ended December 31, 2025 filed with the SEC on March 17, 2026, and other documents filed with or furnished to the SEC which are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

IR Contact:

Email: investors@icecure-medical.com
Michael Polyviou
Phone: 732-232-6914

Photo: https://mma.prnewswire.com/media/2941017/Meir_Peleg.jpg
Logo: https://mma.prnewswire.com/media/2319310/IceCure_Medical_Logo.jpg

 

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SOURCE IceCure Medical

FAQ

Who is the new CFO of IceCure (ICCM) and when does he start?

Meir Peleg will become IceCure's CFO, starting May 17, 2026. According to the company, he brings 20+ years of public company financial leadership and capital markets experience to support scaling and governance.

What does the planned appointment of Dr. Richard E. Fine mean for ICCM's breast program?

Dr. Richard E. Fine will lead breast indications as Medical Director in Q2 2026. According to the company, he will support clinical and educational initiatives including the FDA‑approved ChoICE post‑marketing study for ProSense®.

How did regulatory and clinical milestones affect IceCure's commercial outlook (ICCM)?

FDA clearance in low‑risk breast cancer and an ASBrS recommendation underpin rising commercial momentum. According to the company, these milestones support broader adoption of ProSense® in the U.S. and globally.

What leadership changes at IceCure (ICCM) could affect operations near term?

VP of R&D Naum Muchnik will depart effective April 12, 2026 and a CTO search is underway. According to the company, this creates a transition period requiring management focus to maintain R&D continuity.

What is the ChoICE study and how does it relate to IceCure (ICCM)?

ChoICE is an FDA‑approved post‑marketing study evaluating ProSense® for low‑risk breast cancer. According to the company, the study is part of efforts to generate clinical evidence to support commercial adoption.