Icecure Medical Ltd. Stock Price, News & Analysis

IceCure Medical Ltd. (NASDAQ: ICCM) announced a Notice of Allowance from the Japan Patent Office for its Cryogen Pump patent, effective until 2041. This innovative pump allows longer, multiple cryoablation procedures without needing to refill liquid nitrogen, enhancing clinical applications. The pump improves cooling rates and temperature control for cryoprobes. This patent supports IceCure's distribution agreement with Terumo in Japan, strengthening its market presence. IceCure focuses on advanced cryoablation therapy for treating tumors, including breast and kidney cancers, positioning itself as a leader in minimally invasive treatments.

IceCure Medical Ltd. (Nasdaq: ICCM) issued a letter to shareholders outlining its progress and objectives for 2023. Major achievements in 2022 include raising $14.5 million through equity financing, submitting regulatory requests in the U.S., Canada, and Vietnam, and gaining reimbursement approval for cryoablation procedures. The company aims to enhance its market presence, particularly in breast cancer treatment, and is focused on increasing commercialization efforts globally. CEO Eyal Shamir emphasized confidence in growth and the company's financial stability.

IceCure Medical (Nasdaq: ICCM) has successfully closed its public offering of 8,787,880 ordinary shares at a price of $1.65 per share, generating approximately $14.5 million in gross proceeds. The funds will be used for developing next-generation systems, collecting clinical data, regulatory approvals, and general corporate purposes. A.G.P./Alliance Global Partners served as the lead placement agent for the offering.

IceCure Medical Ltd. (Nasdaq: ICCM) has priced its public offering of 8,787,880 ordinary shares at $1.65 each, aiming to raise approximately $14.5 million before expenses. The funds will be utilized for developing next-generation systems, clinical data collection, regulatory approvals, marketing, and general corporate purposes. The offering is expected to close on December 23, 2022, pending customary conditions. A.G.P./Alliance Global Partners serves as the lead placement agent.

IceCure Medical Ltd. (Nasdaq: ICCM) announced a public offering of its ordinary shares, with all securities offered by the Company. The offering's completion is subject to market conditions, and details regarding size and terms are uncertain. Proceeds will fund the development of next-gen systems, clinical data collection, and regulatory approvals, among other uses. A.G.P./Alliance Global Partners is the lead placement agent. This offering is made under an effective shelf registration statement filed with the SEC.

IceCure Medical Ltd. (Nasdaq: ICCM) announced interim results from the ICESECRET study, presented at the Urological Association Conference in Eilat, Israel. The ProSense system effectively treats renal lesions under 5 cm in patients unfit for kidney-preserving surgery. Out of 115 enrolled patients, an 89.5% recurrence-free rate was observed for lesions ≤3 cm. The study reported 5 serious adverse events, with the majority being mild and resolved quickly. ProSense is approved in the U.S. and Europe for treating both benign and malignant kidney tumors.

IceCure Medical Ltd. (Nasdaq: ICCM) announced the promotion of Galit Bar Malik to VP of Operations and Service and the appointment of Vincent Chun Hung Chan as an independent director. Chan, a seasoned private equity executive with over 30 years of experience, brings a strong background in managing investment projects and corporate governance. This strategic addition aims to bolster operations in light of anticipated sales growth for the ProSense® system, which treats tumors through cryoablation technology. The company is focusing on launching ProSense in key markets, including Asia.

IceCure Medical (Nasdaq: ICCM) reported a 22% revenue decline to $2.1 million for the nine months ending September 30, 2022, but noted a positive sales increase of 65% in the U.S. and 37% in Europe. Key developments include the FDA filing for ProSense cryoablation for breast cancer and achieving Medicare coverage with a CPT Category III code effective January 1, 2023. Operating expenses rose to $13.8 million, leading to a net loss of $13 million. The company has $14.2 million in cash as of September 30, 2022. A conference call discussing these results is scheduled for December 5, 2022.