iCAD down as preliminary Q4 sales misses estimate; CEO steps down

icad

13/03/2023 14:50

** Shares of medical device maker iCAD Inc  ICAD.O  down 29%
at $1.69, biggest one-day pct fall in about eight years
    ** Company expects preliminary sales of $6.5 mln in Q4 vs
analysts' est of $6.6 mln - Refinitiv
    ** ICAD is implementing measures to align its cost base,
including engaging with investment bankers to explore strategic
options for its therapy business line
    ** Stacey Stevens resigns as company's CEO and president;
Dana Brown, who was member of ICAD's board, to succeed
    ** ICAD was down ~76% last year

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))