IceCure Medical Ltd (ICCM) experienced an increase of 11.54% in premarket following the updates in SEC filing. However, the last trading session closed at $2.59 with an increase of 10.68%.
Unaudited 2021 Year-End Financial Results – Newest Updates by ICCM
ICCM announced unaudited 2021 Year-End Financial Results on 31st January 2022. The company reported that revenues increased from $3.9 million to $4.1 million. Moreover, the cash and cash equivalents came out to be $25.6 million. Beginning with a $15 million private placement early in the year 2021 was a critical year for IceCure. Furthermore, ProSense sales have surged in the United States and Europe. This has been possible because of the expansion of our global distribution network. Furthermore, the ICE3 study in the United States produced encouraging results for the cryoablation technology in the treatment of early-stage breast cancer.
Now what?
The company plans to enhance its regulatory and commercial strategy in the US, China, and Japan in 2022. In addition, ICCM intends to work with additional commercial strategic partners. Additional regulatory clearances in key markets, such as the United States and China, will be one of the main priorities.
Furthermore, ICCM has previously submitted a pre-submission package to the Food and Drug Administration in the United States for early-stage breast cancer with a high risk of surgery. Not only this but ICCM has proposed a De Novo categorization based on the ongoing ICE3 clinical study. Lastly, the team is hopeful that the FDA Breakthrough Device Designation will result in a priority review.
Notice of Intention – Latest Updates by ICCM
ICCM announced on 20th December 2021, that European Patent Office is willing to issue a patent for IceCure’s “Cryogen Pump” application. IceCure has created a new cryogenic pump that is submersible in liquid nitrogen and operates in a closed circuit. Furthermore, without the requirement to refill liquid nitrogen, this cryogenic pump can be used for repeated procedures or long-term duration procedures. This pump also allows for temperature control of the cryoprobe, as well as the use of a broader range of cryoprobes and catheters and increases the operating temperature during a procedure.
