Icecure Medical Ltd. Stock Price, News & Analysis

IceCure Medical (NASDAQ: ICCM) announced its participation in the European Conference on Interventional Oncology (ECIO) from April 24-27, 2022, showcasing its ProSense® cryoablation system. The event featured a symposium led by Professor Franco Orsi, highlighting cryoablation's effectiveness for renal and adrenal cancers. Interim results from the ICE3 trial revealed a 98% recurrence-free rate in patients treated for low-risk breast cancer. The company aims to expand ProSense®'s regulatory approvals and establish it as a premier cryoablation option globally.

IceCure Medical Ltd. (NASDAQ: ICCM) reported preliminary unaudited revenue of $4.1 million for 2021, up from $3.9 million in 2020, primarily driven by sales from distribution agreements in Europe and the U.S. ProSense^® system. Cash and equivalents surged to $25.6 million from $3.5 million in the prior year, aided by $32 million in equity raises. The company plans to enhance its regulatory and commercial strategies in the U.S., China, and Japan and pursue further FDA approvals for breast cancer treatments.

IceCure Medical Ltd. (NASDAQ: ICCM) shared a letter to shareholders reflecting on its achievements in 2021 and outlining objectives for 2022. The company reported positive interim results from the ICE3 clinical trial and noted progress in gaining regulatory approvals in the U.S., China, and Japan. IceCure also successfully raised $32 million in funding and expanded its global distribution network. Looking ahead, the focus will be on commercialization, regulatory clearances, and the development of next-generation cryoablation systems. The company expressed gratitude to its shareholders for their support.

IceCure Medical Ltd. (NASDAQ: ICCM) announced receiving notification from the European Patent Office of an intention to grant a patent for its proprietary cryogenic pump, which will enhance the ProSense® cryoablation system. This pump is designed for long-term procedures without the need for frequent liquid nitrogen refills, improving efficiency and temperature control. The patent will be effective until 2041. CEO Eyal Shamir highlighted its potential to enhance cryoablation procedures and expand treatment applications.

IceCure Medical Ltd. (NASDAQ: ICCM) announced the closing of its underwritten public offering, raising approximately $17 million by selling 3,892,152 shares at $3.45 each, including an over-allotment of 578,325 shares. Additionally, pre-funded warrants for 1,034,000 shares were offered at $3.449 each. The funds will be utilized for product development, business development, working capital, and general corporate purposes.

IceCure Medical Ltd. (NASDAQ: ICCM) announced a public offering of 3,313,827 shares at $3.45 each, aiming to raise approximately $15 million. The offering includes pre-funded warrants to purchase 1,034,000 shares, priced at $3.449 each. Expected to close by December 13, 2021, the funds will support product development, business growth, and general corporate purposes. A.G.P./Alliance Global Partners is the book-running manager for the offering.

IceCure Medical (NASDAQ: ICCM) announced that interim data from its ICE3 Clinical Trial on cryoablation for small, low-risk breast cancer was presented by Dr. Kenneth Tomkovich at the RSNA meeting, which took place from November 29 to December 2, 2021. Dr. Tomkovich's presentation highlighted the growing acceptance of cryoablation as a treatment option. IceCure's CEO, Eyal Shamir, noted that this recognition supports the promising ICE3 data. The ProSense® System offers a minimally-invasive alternative to surgical tumor removal, focusing on effective treatment options for various cancers.

IceCure Medical Ltd (NASDAQ: ICCM) announced the appointment of Merav Nir Dotan as Vice President of Human Resources, enhancing its commitment to growth in human capital. With over 20 years of HR experience, Nir Dotan is set to support IceCure's global expansion of the ProSense® System, which provides a minimally invasive cancer treatment. The company aims to boost its R&D and clinical divisions as it seeks regulatory approvals in key markets, including the United States and China.

IceCure Medical Ltd. (NASDAQ: ICCM) reported an 11% revenue increase to approximately $2.75 million for the nine months ended September 30, 2021. However, the gross profit fell to $1.55 million, leading to a decreased gross margin of 56%. Operating expenses surged to approximately $8.15 million, resulting in a net loss of approximately $6.73 million or $0.25 per share, compared to a loss of $2.95 million in the prior year. Cash reserves improved to $15.4 million due to a $15 million private placement. Strategic developments include regulatory progress in the U.S. and China.