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Icad Inc - ICAD STOCK NEWS

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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.

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iCAD, a leader in medical technology focused on cancer detection and therapy, announced its participation in the Lake Street Capital Markets 6th Annual Best Ideas Growth Conference on September 14, 2022, in New York City. Stacey Stevens, President and CEO, will meet with investors at the event. Interested parties can schedule meetings through Lake Street Capital representatives. iCAD continues to innovate with its ProFound AI technology, though it faces potential risks and uncertainties, including market acceptance and regulatory factors.

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iCAD announces the growing adoption of its Breast AI Suite through a flexible subscription model, making it easier for hospitals and imaging centers to deploy advanced breast cancer detection technologies. The subscription model reduces upfront costs and allows for easier updates and scalability. Key offerings include ProFound AI, the first FDA-cleared AI for 3D mammography, and PowerLook Density Assessment. This innovative approach aligns with trends in the healthcare industry, which sees subscription models growing significantly. iCAD aims to enhance patient care while establishing recurring revenue streams.

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iCAD reported its financial results for Q2 2022, highlighting a 10.4% increase in cancer detection revenue, totaling $5.3 million. Overall revenue decreased 3.2% to $7.6 million due to a drop in therapy revenue, which fell 24.7%. The company noted strong demand for subscription models, enabling predictable long-term revenues. The net loss improved slightly to ($3.1) million from ($3.3) million year-over-year. Gross profit margin increased to 72.5%. iCAD continues to gain traction in cloud-based solutions, beneficial for future growth.

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iCAD, Inc. (NASDAQ: ICAD) will announce its second-quarter financial results on August 10, 2022, after market closure. The results will be followed by a conference call at 4:30 PM ET. This announcement highlights iCAD's ongoing commitment to transparency and investor engagement as it continues to provide innovative solutions in cancer detection and therapy.

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iCAD, Inc. (NASDAQ: ICAD) showcased its Breast AI solutions at the European Congress of Radiology, including ProFound AI Risk, which has demonstrated the ability to identify high-risk women with a 32 times greater risk of breast cancer. Clinically proven, this AI tool is 2.4 times more accurate than traditional models, offering a unique approach by using mammographic features for short-term risk estimation. The innovations aim to enhance clinical practice by reducing unnecessary patient recalls, thereby improving breast cancer screening outcomes.

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iCAD, a leader in cancer detection, is hosting a webinar on July 18, 2022, titled “ProFound AI Risk in the Real-World”. Esteemed radiologists will showcase clinical examples using iCAD’s ProFound AI Breast Health Solutions to illustrate its effectiveness in personalizing breast cancer screening. The event will feature experts like Mark Traill and Axel Gräwingholt, sharing insights from real-world cases. This follows a prior webinar that discussed the technology's impact on cancer detection rates and efficiency.

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iCAD, a leader in cancer detection technology, is set to host a webinar titled “Risk Assessment Reimagined” on June 21, 2022. This event will feature expert discussions, including researchers from Karolinska Institutet, on the effectiveness of ProFound AI® Risk for Digital Breast Tomosynthesis (DBT). This innovative tool provides personalized short-term breast cancer risk assessments based solely on mammogram data, demonstrating up to 2.4 times more accuracy than traditional models. The webinar will further explore its implications for improving patient outcomes and screening compliance.

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iCAD, a leader in cancer detection technology, will participate in the JMP Securities Life Sciences Conference on June 15-16, 2022, in New York City. CEO Stacey Stevens is scheduled to present on June 15 at 9:00 a.m. EDT. Interested parties can access the webcast here. iCAD specializes in innovative solutions for cancer diagnosis and therapy, aiming to improve patient care through advanced technologies.

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iCAD, Inc. (NASDAQ: ICAD) has appointed Stephen P. Sarno as the interim Chief Financial Officer, effective immediately. Sarno's previous experience includes CFO roles in various technology organizations. He takes over from Charles Carter, who is departing the company this month. Sarno expressed excitement about joining iCAD during a pivotal growth phase, emphasizing the firm's innovative technologies in cancer detection and therapy. iCAD aims to enhance operational efficiency and patient outcomes as it continues its strategic vision for increased shareholder value.

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Research at the 2022 SBI/ACR Breast Imaging Symposium has confirmed that ProFound AI significantly improves radiologists’ screening performance in breast cancer detection using Digital Breast Tomosynthesis (DBT). The study showed enhancements in cancer detection rates and reduced false positives. ProFound AI, recognized as the first FDA-cleared AI cancer detection software for DBT, boosts reading speed by 52.7% and improves sensitivity by 8%. iCAD showcases its complete AI solutions at the symposium, indicating strong potential for transforming breast cancer screening.

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FAQ

What is the current stock price of Icad (ICAD)?

The current stock price of Icad (ICAD) is $1.9 as of January 10, 2025.

What is the market cap of Icad (ICAD)?

The market cap of Icad (ICAD) is approximately 50.1M.

What does ICAD Inc. specialize in?

ICAD Inc. specializes in advanced image analysis, workflow solutions, and radiation therapies for the early detection and treatment of cancers.

What are ICAD's core products?

ICAD’s core products include CAD solutions for mammography, MRI for breast and prostate cancers, and CT for colorectal cancer. The Xoft System is another key product, offering radiation treatment for early-stage breast, non-melanoma skin, and endometrial cancers.

What recent partnerships has ICAD announced?

ICAD recently announced a partnership with GE HealthCare to integrate key AI-powered solutions from its ProFound Breast Health Suite into GE's MyBreastAI Suite, enhancing breast cancer detection and workflow efficiency.

How is ICAD performing financially?

As of Q1 2024, ICAD reported $5.0 million in total revenue, a 14% increase from the previous year. The gross profit was $4.1 million with an 18% reduction in operating expenses.

Where does ICAD operate globally?

ICAD operates in countries including France, Belgium, Italy, Germany, Switzerland, and others, indicating a strong international presence.

What is the ProFound Cloud?

ProFound Cloud is an innovative solution powered by Google Cloud, designed to enhance the accessibility and efficiency of mammography screening data for radiologists.

What are the benefits of ICAD’s ProFound AI technology?

Clinical studies show that ICAD’s ProFound AI improves reading sensitivity and specificity, reduces reading times, and decreases unnecessary patient recall rates.

How many patients and providers use ICAD's solutions?

ICAD’s solutions are used by thousands of providers, serving millions of patients across over 50 countries.

What is the Xoft System?

The Xoft System is ICAD’s radiation treatment solution for early-stage breast cancer, non-melanoma skin cancer, and endometrial cancer. It offers treatments through IORT and APBI.

How can I contact ICAD for more information?

For more information, visit www.icadmed.com or contact ICAD via pr@icadmed.com for media inquiries and ir@icadmed.com for investor inquiries.
Icad Inc

Nasdaq:ICAD

ICAD Rankings

ICAD Stock Data

50.07M
25.05M
5.63%
27.16%
0.95%
Medical Devices
Surgical & Medical Instruments & Apparatus
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United States of America
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