Why Is Breast Cancer Diagnostic Focused IceCure Medical Stock Trading Higher Today?

IceCure Medical Ltd ICCM announced that new data was presented at the European Society of Breast Imaging Scientific Meeting, validating IceCure's ProSense Cryoablation is a safe and effective outpatient procedure for breast cancer with a 96.8% success rate.

The study used ProSense for cryoablation treatment of 31 patients with early-stage breast cancer who declined surgery, the standard of care.

ProSense System is a minimally invasive cryoablation technology that destroys tumors by freezing as an alternative to surgical tumor removal.

All patients were diagnosed with biopsy-proven early breast cancer (cT1-2cN0-1cM0) with a median tumor size of 24 mm, ranging between 6 and 45 mm. 

Patients were followed by mammography and ultrasound every six months for two years and annually after that. 

The median follow-up was ten months. Cancer progression was observed in 1 patient (1/31, 3.2%). No major complications were seen, and all patients well tolerated the procedure.

The study concluded that cryoablation could be an alternative treatment to surgery for breast cancer in patients who reject surgery. 

"These data are very much in line with the interim results of our ICE3 study, the largest of its kind in the U.S., which is expected to conclude in the first quarter of 2024," stated IceCure's CEO, Eyal Shamir. 

Price Action: ICCM shares are up 46.40% at $0.79 on the last check Monday.