|Over a week ago|
iCAD reports Q1 EPS (7c), consensus (12c) » 16:1004/2804/28/21
Reports Q1 revenue…
Reports Q1 revenue $8.64M, consensus $7.95M. "We are extremely pleased with the overall performance of our business in the first quarter," said Mike Klein, chairman and CEO. "Our first quarter total revenue of $8.6 million represented a 32 percent increase over our 2020 first quarter and we generated 34% year-over-year growth in AI product revenue in the first quarter, as we continue to drive further adoption of ProFound AI(R). Importantly, these impressive growth rates were achieved while we maintained our prudent operating expense management measures, which resulted in a 86% decline in net loss to $0.07 per share. We ended the quarter with $46.9 million in cash, and just applied approximately $7.4 million of that cash to repay our credit facility in full."
iCAD initiated with a Buy at Guggenheim » 11:1504/2204/22/21
Guggenheim analyst Chris…
Guggenheim analyst Chris Pasquale initiated coverage of iCAD with a Buy rating and $24 price target. Given its portfolio with "two relatively distinct businesses" for the detection and treatment of cancer, iCAD is a "unique asset within the small-cap MedTech universe," Pasquale tells investors. Though he sees "limited synergy" between the company's two segments, he sees each having the potential to drive significant growth and believes "investors are essentially getting the more speculative Therapy business for free at current levels," Pasquale said.
iCAD presented new data for ProFound AI breast cancer detection » 08:1704/1904/19/21
iCAD announced that new…
iCAD announced that new research supporting the clinical value of ProFound AI for Digital Breast Tomosynthesis was presented at the Society of Breast Imaging Symposium, April 9-11, and at the National Consortium of Breast Centers Annual Interdisciplinary Breast Center Conference, April 16-19. Emily Conant, MD, Professor and Division Chief of Breast Imaging at the University of Pennsylvania Medical Center, presented findings from a retrospective analysis involving ProFound AI for DBT in a presentation titled "Feasibility of automated identification of low-likelihood of cancer cases in digital breast tomosynthesis screening," at the SBI Symposium. At the NCoBC Interdisciplinary Breast Center Conference, Mark Traill, MD, University of Michigan Health, presented findings from a study titled "Correlation between BI-RADS Assessment Categories and Artificial Intelligence Case Scores," which was a winner in the "Breast Disease Diagnosis and Management" category. According to study findings presented by Conant at the SBI Symposium, ProFound AI for DBT accurately identified 33.4% of normal screening DBT exams with no cancers being missed, based solely on the ProFound AI Case Score. When researchers also factored in breast density and age, ProFound AI identified 58.6% of normal cases with no false negatives. The study was conducted to evaluate the thresholds at which the ProFound AI system could be used for triaging DBT exams to reach a minimum rate of false negatives per 1,000 screened in an enriched dataset of 506 biopsy-proven cancer cases and 1,293 non-cancer cases with 320 days of negative follow-up. A consecutive series of cases were collected from 18 sites in the United States and three sites in France. In addition, new data presented by Mark Traill at the NCoBC Interdisciplinary Breast Center Conference highlights the comparison of ProFound AI Case Scores to BI-RADS assessment categories determined by a single radiologist without using AI in a retrospective analysis. Researchers used ProFound AI on 890 consecutive DBT studies and 50 consecutive cases with biopsy-proven breast cancer detected with DBT. Results showed a strong positive correlation between a ProFound AI Case Score of less than 60 percent and patients assessed as likely to be normal, while most of the biopsy-proven cancers had a Case Score of greater than 60%.
|Over a month ago|
Fly Intel: After-Hours Movers » 19:1604/0504/05/21
ICAD, ILMN, SPNE, DCT, GBOX, OPNT, MRVI, PSX, ARES, TPTX, UCTT, USAT
Check out this evening's…
iCAD announces CFO Scott Areglado to leave company » 16:0604/0504/05/21
iCAD announced that its…
iCAD announced that its CFO Scott Areglado, will be leaving the company in early May to accept a position with another company. An interim CFO will be appointed shortly to serve until such time as a permanent successor to Areglado is in place. The search and selection process for a successor to Areglado is already underway.
iCAD reports preliminary Q1 revenue $8.1M, consensus $7.89M » 16:0404/0504/05/21
Unaudited cash and cash…
Unaudited cash and cash equivalents as of March 31, 2021 were approximately $46.9M, which includes proceeds of the public offering closed in March that generated gross proceeds of approximately $25M. "For the first quarter of 2021, anticipated final revenue numbers represent significant growth, compared to the first quarter of 2020," according to Michael Klein, iCAD's chairman and CEO. "Our strong results were driven by growth in both AI Detection revenue, due to continued market penetration for ProFound AI(R) and ProFound AI(R) Risk, and Xoft(R) Therapy revenues."
iCAD announces results from ProFound AI retrospective analysis » 08:1503/3103/31/21
iCAD announced that…
iCAD announced that ProFound AI for 2D Mammography might notably reduce the risk of interval breast cancer, according to a retrospective analysis recently published in the Journal of Medical Screening. The aim of the study was to determine if adding AI to reading mammography as a supportive tool may help in decreasing the interval cancer rate in population-based organized mammography screening programs in Germany. In the retrospective analysis, which evaluated a screening period from 2011 and 2012, a total of 37,367 women between the ages of 50-69 were screened with full-field digital mammography. Of these, 29 cases of interval cancers with full documentation were evaluated using ProFound AI for 2D Mammography. For quality assurance, interval cancers with the prior screening mammogram were classified in four categories by the radiologists: true interval cancers, minimal sign cancers, missed cancers based on the original screening exam deemed as normal and dismissed, and occult cancers. The objective of the study was to determine whether ProFound AI for 2D Mammography could identify interval cancers that had either minimal signs in the original normal screening or were missed in the original screening round where they had been dismissed as a normal exam. According to the lead author of the study, Axel Grawingholt, MD, "The results indicate that ProFound AI for 2D Mammography found 93% of these cancers-eight out of nine cancers that presented minimal signs and six out of six that were false negatives, or missed in the screening round-demonstrating that some cancers could have been detected earlier within the screening round where they were dismissed as normal and therefore wouldn't have been detected as interval cancers."
iCAD initiated with a Buy at BTIG » 06:2003/2303/23/21
BTIG analyst Marie…
BTIG analyst Marie Thibault initiated coverage of iCAD with a Buy rating and $25 price target. The analyst is positive on the company's business segments that are looking to expand into areas of "high unmet need" - using AI to help radiologists read mammography images more quickly and accurately and also giving clinicians and patients a more complete picture of the patient's short-term risk of developing breast cancer. Thibault adds that while iCAD's existing products offer "significant revenue opportunity", the company also offers a "full pipeline".
iCAD initiated with a Buy at BTIG » 06:0103/2303/23/21
BTIG analyst Marie…
BTIG analyst Marie Thibault initiated coverage of iCAD with a Buy rating and $25 price target.
Fly Intel: Pre-market Movers » 08:5803/1603/16/21
FTCV, AZRX, ICAD, JBL, DFH, DBI, CRH, AKRO, FCEL, CLSK
Check out this morning's…