iCAD Inc. (ICAD), a leading provider of advanced image analysis, announced Thursday that its Taiwanese partner UltraMed Technology has acquired a third Xoft Axxent Electronic Brachytherapy System. The news provided little traction to shares, which are down over 3%.
With this agreement, Intraoperative Radiation Therapy (IORT) with the Xoft System will be available in nine Taiwanese hospitals.
The Xoft System is a mobile and flexible therapy procedure which can dramatically reduce treatment times compared to whole breast radiation therapy for the treatment of early-stage breast cancer. When it is used for IORT, the Xoft System delivers a single, prescribed, targeted dose of isotope-free radiation, eliminating the need for a shielded treatment environment.
ICAD shares were down 3.8% to $6.56 in early afternoon trading. The stock trades within a 52-week range of $5.16 to $14.11.