Icad Jumps on Regulatory OK
iCAD (ICAD) shares jumped Wednesday after the medical-equipment maker said the Food and Drug Administration had approved its latest breast cancer detection software.
Shares rose 72 cents, or 20.1%, to $4.19. Trading volume was three times the daily average of about 80,000 shares.
The Nashua, N.H.-based company said the FDA approved its new Second Look 200 system for early detection of breast cancer with substantially improved cancer detection software, which is designed for smaller breast care centers.
The new version can analyze up to 15 cases a day, is fully automated, fits on a counter top and is priced below $70,000.The company said ill will market the new software system to the thousands of low-volume mammography clinics.
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