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ICAD Inc. (symbol: ICAD) is a leading force in the realm of medical technology, specializing in advanced image analysis, workflow solutions, and radiation therapies designed for the early detection and treatment of cancers.
Core Business: The company’s main operations focus on providing healthcare professionals with cutting-edge tools to identify pathologies through a comprehensive range of high-performance, upgradeable computer-aided detection (CAD) solutions. These solutions are pivotal in mammography for breast cancer, magnetic resonance imaging (MRI) for breast and prostate cancers, and computed tomography (CT) for colorectal cancer. ICAD’s flagship technology, the Xoft® System, delivers radiation treatment for early-stage breast cancer via intraoperative radiation therapy (IORT) and accelerated partial breast irradiation (APBI). Additionally, the Xoft System is approved for treating non-melanoma skin cancer and endometrial cancer.
Recent Achievements and Partnerships: Recently, ICAD announced the integration of key AI-powered solutions from its ProFound™ Breast Health Suite into GE HealthCare's MyBreastAI Suite, aimed at enhancing breast cancer detection worldwide. This collaboration underscores ICAD's commitment to advancing breast health, improving diagnostic accuracy, and streamlining workflow efficiency for clinicians.
Financial Condition: As of the first quarter of 2024, ICAD reported a total revenue of $5.0 million, marking a 14% increase from the previous year. The company's gross profit stood at $4.1 million, with an operating expense reduction of 18%, showcasing robust financial health and strategic cost management.
Global Reach: ICAD’s influence extends across multiple countries including France, Belgium, Italy, Germany, Switzerland, and others, reflecting its strong international presence and commitment to global healthcare improvement.
Innovative Solutions: ICAD’s ProFound AI technology has demonstrated significant benefits in clinical studies, including improved radiologist sensitivity and specificity, reduced reading times, and decreased unnecessary patient recall rates. The company’s solutions are used by thousands of providers, serving millions of patients, and are available in over 50 countries.
Future Prospects: ICAD continues to innovate with the recent introduction of the ProFound Cloud, powered by Google Cloud, to enhance the accessibility and efficiency of mammography screening data. The company also remains committed to expanding its AI capabilities and improving patient outcomes globally through strategic partnerships and technological advancements.
For more information, visit www.icadmed.com or contact their media and investor relations at pr@icadmed.com and ir@icadmed.com respectively.
iCAD, a leader in medical technology, announced participation in the 11th Annual LifeSci Partners Corporate Access Event from January 5-7, 2022. The company's President and incoming CEO, Stacey Stevens, will join a panel titled “Med Tech / Digital Tools: What's the Mindset for 2022?” on January 5 at 2:00 pm ET. This virtual event will highlight key topics in life sciences and feature discussions with industry experts and company management teams. For more details, interested parties can register for the event online.
iCAD, a leader in medical technology, has initiated the GLIOX trial, targeting recurrent glioblastoma using the Xoft® Axxent® Electronic Brachytherapy System. This significant milestone took place at Providence Saint John’s Health Center, led by renowned oncologist Santosh Kesari. The trial aims to compare Xoft IORT with Avastin against traditional treatments, building on promising data from earlier studies. Results showed patients receiving Xoft IORT had longer survival rates and fewer complications, signaling potential advancements in brain tumor therapy.
NASHUA, N.H., Dec. 6, 2021 -- iCAD, a leader in cancer detection and therapy solutions, announced that Stacey Stevens, President and incoming CEO, will present at Oppenheimer’s Imagine AI + Healthcare Investor Summit. The presentation is scheduled for December 7, 2021, from 11:00 a.m. to 11:20 a.m. ET. This event, organized by Oppenheimer in collaboration with the Alliance for AI in Healthcare, highlights advancements in AI technology within healthcare.
For more information, visit www.icadmed.com.
iCAD appointed Stacey Stevens as President and CEO, effective March 1, 2022. Stevens, previously the company's President, joins the Board of Directors, while Michael Klein continues as Chairman. The Board highlighted Stevens' focus on driving change and innovation at a crucial growth phase for iCAD, particularly with recent technology launches in cancer detection and therapy. Stevens aims to enhance patient care and shareholder value through the company's advanced solutions.
iCAD (NASDAQ: ICAD) announced that its advanced breast cancer detection software, ProFound AI, will be highlighted in three scientific presentations at the RSNA 2021 meeting. Key studies focus on ProFound AI's effectiveness in improving cancer detection outcomes in digital breast tomosynthesis (DBT) screenings. Presentations will discuss AI's role in identifying aggressive lesions and its real-world impact on detection rates. Notably, ProFound AI reduces reading time by 52.7% and enhances radiologist sensitivity by 8%. The company continues to advance its technology for better patient care in breast health.
iCAD, Inc. (NASDAQ: ICAD), a leader in medical technology, announced its participation in the 12th Annual Craig-Hallum Alpha Select Conference on November 16, 2021, starting at 9:00 AM ET. The company's management will be available for virtual one-on-one meetings with registered investors. iCAD specializes in innovative solutions for cancer detection and therapy. For further details regarding the conference, interested parties can visit Craig-Hallum.com.
iCAD (NASDAQ: ICAD) will host its 2nd annual virtual investor webinar on November 18, 2021, from 3:00 to 4:30 PM ET.
The event will feature leading experts discussing iCAD’s Breast Health Solutions and the innovative Xoft System, enhancing clinical efficiency and patient outcomes.
Key speakers include Angela Fried, MD, and Sally Grady, among others. The webinar will showcase ProFound® AI, a groundbreaking technology for breast cancer detection with proven efficiency improvements.
Registration is available via iCAD's official website.
iCAD reported third quarter 2021 revenues of $9.4 million, marking a 31% increase year-over-year and a 20% sequential rise. Detection revenue grew by 26% while therapy revenue rose 10%. Notably, the Xoft® product revenue saw a 34% sequential increase. Despite these gains, the company experienced a net loss of $2.2 million. The nine-month revenues totaled $25.8 million, up 34% compared to 2020. CEO Mike Klein highlighted ongoing market demand and product launches as critical drivers for future growth.
iCAD (NASDAQ: ICAD) will announce its third-quarter financial results on November 9, 2021, after market close. A conference call is scheduled for 4:30 PM ET, providing an opportunity for investors to gain insights into the company's performance in cancer detection and therapy solutions. The domestic and international call-in numbers are provided, along with a conference ID and a link for the webcast. iCAD continues to position itself as a leader in the medical technology sector.
iCAD, a leader in medical technology, will present its advanced ProFound AI for 2D Mammography at the Journées Francophones de Radiologie in Paris from October 8-11, 2021. This new version shows significant performance improvements: up to 4% increased sensitivity and 10% improved specificity, alongside 40% faster processing times. A new product, ProFound AI Risk, now estimates short-term breast cancer risk based solely on screening mammograms. This technology aims to enhance breast cancer detection and empower women to better manage their healthcare.
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