The press release also contains forward-looking statements regarding IceCure Medical (TASE:PMCN)'s expectations for continued listing and compliance with Nasdaq requirements. However, these statements are based on current management expectations and are subject to various risks and uncertainties that could cause actual outcomes to differ materially.Investors are reminded that the information in this article is based on a press release statement from IceCure Medical and should consider the company's disclosures and risk factors, including those detailed in its Annual Report and other SEC filings. For a comprehensive analysis of ICCM's financial health, valuation, and growth prospects, investors can access detailed research reports and 15+ additional ProTips through InvestingPro. For a comprehensive analysis of ICCM's financial health, valuation, and growth prospects, investors can access detailed research reports and 15+ additional ProTips through InvestingPro.
This development ensures that IceCure Medical remains listed and traded on the Nasdaq Capital Market, having satisfied all the continued listing requirements. The notification from Nasdaq effectively closes the previous bid price deficiency issue. According to InvestingPro analysis, the company maintains a healthy financial position with a current ratio of 2.67, indicating strong liquidity to meet short-term obligations.
IceCure Medical's proprietary technology involves the use of liquid nitrogen-based cryoablation systems to freeze and destroy tumors, offering a minimally invasive alternative to traditional surgical removal. The treatment is applicable to various types of cancer, including those affecting the breast, kidney, bone, and lung. The company's primary product, the ProSense® system, is marketed globally, with approvals for use in the United States, Europe, and China. Financial data from InvestingPro shows promising revenue growth of 26% in the last twelve months, though investors should note that the company is currently operating at a loss.
The press release also contains forward-looking statements regarding IceCure Medical's expectations for continued listing and compliance with Nasdaq requirements. However, these statements are based on current management expectations and are subject to various risks and uncertainties that could cause actual outcomes to differ materially.
Investors are reminded that the information in this article is based on a press release statement from IceCure Medical and should consider the company's disclosures and risk factors, including those detailed in its Annual Report and other SEC filings.
In other recent news, IceCure Medical has maintained its buy rating and price target of $2.50, as reiterated by H.C. Wainwright. The company recently reported a total revenue of $0.7 million for Q3 2024, marking a year-over-year increase of 102%. There was a net loss of $4.2 million, which marginally exceeded the projected $3.7 million loss. In the first nine months of 2024, IceCure Medical reported a sales increase of 36% for its ProSense systems and disposable probes, with total sales reaching $2.3 million.
These recent developments include the company's anticipation of the FDA's decision on the ProSense system's marketing authorization for treating early-stage, low-risk breast cancer with endocrine therapy in Q1 2025. IceCure Medical's partner in Japan, Terumo, is planning to seek regulatory approval for the same treatment in 2025. The company will also present interim results from the ICESECRET trial, involving the use of ProSense for cryoablation of kidney cancer, in December 2024.
IceCure Medical's CFO, Ronen Zimmerman, expects a boost in revenue trends following the FDA clearance for U.S. sales. Shay Labov, the VP of Regulatory and Quality Affairs, emphasized the importance of a close relationship with the FDA for effective post-marketing controls. These recent developments highlight IceCure Medical's ongoing efforts to expand its market reach and improve its financial health.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.