iCAD Reports Financial Results for First Quarter Ended March 31, 2022
Company to host
conference call and webcast today at 4:30 PM ET
NASHUA, N.H. – May
11, 2022 – iCAD, Inc.
(NASDAQ: ICAD), a global medical technology leader providing innovative
cancer detection and therapy solutions, today reported its
financial and operating results for the three months ended March 31, 2022.
Highlights:
- Commercial reorganization shows early success
leading to a ProFound AI® enterprise agreement at a world-renowned
academic research institution with multiple locations throughout the U.S. - Profound AI® Risk clinical research
progresses, with new data to be presented at both the International Workshop on
Breast Imaging (IWBI) and the European Congress of Radiology (ECR) in Q2 - GLIOX trial examining use of Xoft®
intraoperative radiation therapy (IORT) for recurrent glioblastoma (GBM) has
accelerated with additional patients treated, and customers globally continue
to expand use of Xoft electronic brachytherapy (eBx) for the treatment of
multiple tumor types, including rectal, head and neck, and various types of brain
cancers - Launched a new webinar series, “ProFound Insights,
ProFound Impact,” which will highlight compelling customer success stories,
such as Kettering Health in Ohio and Wake Radiology in North Carolina
“We
are currently at an important inflection point that offers significant
potential across both sides of our business,” said Stacey Stevens, President
and CEO of iCAD, Inc. “With a robust portfolio of world-leading, differentiated
solutions in large, under-penetrated markets in the detection segment, and the
expansion of Xoft in promising applications such as the treatment of brain
tumors in the cancer therapy segment, iCAD is well positioned for sustained
growth.”
“Our
results this quarter were achieved through solid execution of our strategic
plan, which has laid the groundwork for continued success this year. We will
continue to leverage the strength of our robust portfolio of powerful solutions
and expand access to our innovative technologies via aggressively targeting
broader market opportunities and offering more flexible ways for our
technologies to meet customer needs,” continued Stevens.
“We
remain optimistic as we look ahead, as we believe we now have a stronger
commercial infrastructure in place and a solid and growing pipeline to ensure
the trajectory we are on will continue to position the organization for success
and bring our leading portfolio of innovative solutions into the hands of more
clinicians worldwide. I believe that we have the right plans and the right team
in place to successfully execute our strategic vision and elevate the Company
and our technologies to new heights,” Stevens added.