ICAD: Colliers cuts PT as CMS excludes co's new radiation therapy

icad

21/09/2020 15:27

** Shares of medical-device manufacturer  ICAD.O  fall
21.16% to $9.18; set for worst day in over five years
    ** Colliers Securities cuts PT on stock to $12.50 from
$13.50
    ** Centers for Medicare & Medicaid Services (CMS) excluded
co's intra-operative radiation therapy (IORT) from new radiation
oncology alternative payment model - Colliers   
    ** Brokerage cuts FY21 est for therapy revenue and says ICAD
will petition the decision
    ** However, brokerage encouraged by positive data on co's
breast cancer risk algorithms and says product can be used to
predict the likelihood of a woman getting breast cancer between
screenings 
    ** Stock up ~21% so far this year

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))