iCad soars on Medicare reimbursement nod | Wall Street Beat

November 5, 2012 By MassDevice staff Leave a Comment

iCad (NSDQ:ICAD) shares nearly doubled their value on Wall Street today after the medical device company said the Centers for Medicare & Medicaid approved a big increase in the reimbursement rate for its Xoft Axxent brachytherapy device.

Nashua, N.H.-based iCad said the Medicare agency issued "an improved payment policy" for intraoperative radiation therapy, more than doubling the rate CMS proposed last summer, according to a press release.

The news sent ICAD shares up some 36.0% to $2.92 as of about noon today.

"The decision by CMS to unpackage IORT payments and increase reimbursement rates underscores the cost-effectiveness of this potentially life-saving radiation therapy option that can dramatically reduce treatment times, while providing more convenient and aesthetically desirable outcomes for women with early-stage breast cancer," president & CEO Ken Ferry said in prepared remarks. "We believe this ruling will provide greater access to IORT and accelerate the growing adoption of our technology by radiation oncologists and breast surgeons nationwide. It is noteworthy that IORT reimbursement was substantially improved in light of the overall streamlining of payments for radiation oncology services."

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InspireMD (OTC:NSPR) reeled in $1.8 million from a single investor the same day it said "stocking and selling disruptions" from a realignment ahead of TCT 2012 pushed sales down 74.4% to $509,000 and widened losses by 429%, to $7.5 million, or 11¢ per share.
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Deals Roundup

Analysts’ ups and downs

Becton Dickinson & Co. (NYSE:BDX): Goldman Sachs reissues neutral rating, $73 price target.
Dexcom Inc. (NSDQ:DXCM): Jefferies & Co. reiterates Buy rating, lowers price target from $18 to $16.50.
LeMaitre Vascular (NSDQ:LMAT): Barrington Research initiates coverage with Outperform rating, $7.50 price target.

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