iCAD jumps 23% after licensing deal with Google for breast cancer imaging
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MedTech company iCAD, Inc. (NASDAQ:ICAD) added ~25% pre-market Monday after announcing a licensing agreement with Alphabet unit Google (GOOG) (GOOGL) to integrate the latterâs AI technology for its products targeted at breast cancer imaging.
Per the terms of the development and commercialization agreement, Google Healthâs AI technology will be part of iCADâs portfolio of breast imaging products.

âiCAD will apply the licensed technology to further improve its 3D and 2D AI algorithms and will commercialize developed products,â the company said, adding that it will also use Google Cloud to accelerate the rollout of cloud-based offerings.

âBy combining the power of our technologies and teams, we strengthen our fight against breast cancer and positively impact the lives of women and their loved ones across the globe,â iCAD (ICAD) chief executive Stacey Stevens noted.
Seeking Alpha contributor Biologics predicted early this month a "snapback" move for the beaten-down ICAD stock in the near term.