IceCure Medical Shares Surge Over 200% — Here’s Why

IceCure Medical (NASDAQ: ICCM) shares skyrocketed Tuesday on the back of its interim results from its ICESECRET study for the treatment of patients with small renal masses who cannot be offered kidney-preserving surgery.

The company said in a statement that out of 115 patients enrolled, 107 returned for follow-up with an average duration of 22.8 months and a range of 12 to 60 months. In addition, the recurrence-free rate was 85.1% for the 107 patients at a mean follow-up period of 16.5 months.

ICCM said five serious adverse events were reported, with four being of mild severity, which were treated conservatively and resolved within 1 to 5 days, and one severe complication.

The company added that cryoablation and hospitalization time was “relatively short, up to approximately 25 minutes and two days, respectively,” with the presentation concluding that based on the interim results, “cryoablation is safe and effective for treating renal masses under 5 cm.”

“These impressive interim results demonstrate the value of ProSense for urologists and interventional radiologists as a therapeutic alternative when patients are not eligible for surgery,” said IceCure's Chief Executive Officer, Eyal Shamir.

“We believe the findings will support further use of ProSense in the jurisdictions in which our cryoablation system is approved for use with benign and malignant tissues of the kidney. The growing body of data on ProSense's efficacy and safety across a broad range of indications supports commercialization momentum, particularly in facilities that benefit from one device that can be used across multiple specialties.”

IceCure shares have rocketed more than 230% premarket to $3.10 per share after closing Monday at $0.94. The jump puts the company's stock price back at levels last seen in February.