24/7 Market News Snapshot 12 November, 2024 – Icad Inc (NASDAQ:ICAD)

November 12, 2024

DENVER, Colo., 12 November, 2024 (247marketnews.com) – (NASDAQ:ICAD) are discussed in this article.
Icad Inc. (ICAD) has experienced a notable surge in its stock performance, opening at $2.19 and currently trading at $2.395, reflecting an impressive gain of approximately 13.51%. This upward movement follows a previous session close of $2.110, indicating a strong interest among investors. The trading volume has reached 516.28K, underscoring robust engagement with the stock. Analysts suggest monitoring key resistance around $2.40 and support levels near $2.20, with a sustained increase in volume potentially signaling the continuation of this bullish trend.

In parallel, iCAD has achieved a significant milestone with the FDA clearance of its ProFound Detection Version 4.0 for Digital Breast Tomosynthesis (DBT). This groundbreaking technology enhances cancer detection capabilities by utilizing advanced deep learning algorithms to improve the identification of aggressive cancers while lowering the incidence of false positives. The latest version shows a 6.3% improvement in the area under the receiver operating characteristic curve (AUC) compared to prior iterations, increasing both specificity and sensitivity in capturing challenging cancer cases.

A standout feature of ProFound Detection Version 4.0 is its integration of prior exam data, allowing clinicians to incorporate historical information into present analyses—an approach that mirrors traditional imaging review processes. This functionality aims to bolster the accuracy and efficiency of radiologists in interpreting breast imaging. Experts, including Dr. Chirag Parghi from Solis Mammography, have lauded these advancements, particularly in identifying subtle invasive cancers within dense breast tissue.

As iCAD transitions towards cloud-based deployment and subscription models, the release of ProFound Detection Version 4.0 not only promises enhanced clinical outcomes but also strategic growth in Annual Recurring Revenue (ARR). The company is set to present these innovative capabilities at the 2024 Radiological Society of North America annual meeting, inviting industry professionals to explore the transformative impact of its latest solutions firsthand.

Related news for (ICAD)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.