Why Is IceCure Medical (ICCM) Stock Up 300% Today?

  • IceCure Medical (ICCM) stock is zooming 300% higher this morning.
  • In a recent trial, IceCure’s Prosense device was shown to be a “safe and effective” means of treating small kidney lesions.
  • These lesions are “not suitable” to be removed through surgery, according to the company.
An image of medical icons in a web; DNA, bandage, eye, lungs, heart, syringe
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IceCure Medical (NASDAQ:ICCM) stock is zooming about 300% higher this morning. Furthermore, shares jumped as much as 1,000% yesterday after the market closed. Last night, the company reported that its Prosense device was shown in a study to be a “safe and effective” means of treating very small kidney lesions.

Prosense “destroys tumors by freezing” them. IceCure noted in the release that the device has already been “approved for the treatment of benign and malignant kidney tumors in the U.S., Europe, and numerous other countries.”

In a recent study involving 115 patients, Prosense was shown to be a “safe and effective” way to treat kidney lesions that are less than five centimeters in size. IceCure added in the report that such lesions are “not suitable” be removed using “kidney-preserving surgery.”

Among the 107 patients who participated in the trial and came back for a “follow-up” exam, the “recurrence-free rate was 85.1%,” IceCure reported. The patients’ lesions were frozen for a maximum of about 25 minutes and their highest hospitalization time was two days.

ICCM Stock Moving Forward

Based in Israel, IceCure Medical launched back in 2006. The company uses liquid nitrogen to eliminate tumors and says that its treatment solutions are “minimally invasive.” In 2021, the company generated $4.1 million of revenue.

In addition to its use as a treatment for kidney tumors, IceCure’s ProSense is utilized to treat “benign and malignant breast tumors” as well as bone and lung cancers.

Going forward, investors interested in buying ICCM stock and those who already own it should seek to determine whether the outcome of IceCure’s recent trial will significantly boost its revenue or enable it to make new, needle-moving deals.

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On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. You can reach him on Stocktwits at @larryramer.

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