Business
IceCure Medical Reports First Quarter 2022 Financial Results and Operational Highlights
Conference call scheduled for 8:30 am ET today hosted by management with guest Dr. Richard FineIncreased commercial activity in the U.S. and globally with
About this update from Icecure Medical Ltd.
[{"type":"text","content":"Conference call scheduled for 8:30 am ET today hosted by management with guest Dr. Richard FineIncreased commercial activity in the U.S. and globally with several new ProSense® System installations during Q1 Resumption of in-person medical conferences and practitioner site visits boosts ProSense® hands-on demos, trainings, and sales opportunities American Society of Breast Surgeons' former President presented IceCure's ICE3 trial clinical publication in her speech \"Best Papers of 2021\" at ASBrS following a thorough literature review of thousands of breast cancer articles published yearlyCAESAREA, Israel, May 18, 2022 /PRNewswire/ -- IceCure Medical Ltd. (NASDAQ: ICCM) (TASE: ICCM) (\"IceCure\" or the \"Company\"), developer of minimally-invasive cryoablation technology, the ProSense® System, that destroys tumors by freezing as an alternative to surgical tumor removal (\"ProSense\"), today reported financial results as of and for the quarter ended March 31, 2022 and operational highlights.\nQ1 2022 Operational and Financial Highlights\nRevenues: Revenues for the first quarter of 2022 were approximately $0.75 million, 48% lower than approximately $1.4 million in the same period last year due to lower revenue recognition from its distribution agreements with Terumo for the commercialization of ProSense® to treat malignant breast tumors in Japan, Singapore, and Thailand as recorded in the first quarter of 2021, and due to lower sales in Asia impacted by COVID surges and associated restrictions on commercial activity, partially offset by higher sales in the U.S. The Company expects that quarter-over-quarter revenue may vary in the foreseeable future.Increased Commercial Activity: With travel restrictions relaxing at the end of 2021, during Q1 2022 several ProSense® Systems were installed at new sites in the U.S. and around the globe including a ProSense® System that was donated to Tata Memorial Hospital in Mumbai by the Israeli General Consulate of Mumbai in collaboration with the Health Ministry of the Government of Maharashtra and the Israel Trade & Economic Mission to Mumbai. IceCure has scheduled and is now able to conduct more on-site support and training with partners and customers around the globe.FDA Filing for Breast Cancer: Working toward U.S. Food and Drug Administration (FDA) approval for ProSense® in early-stage breast...