Benzinga | Mar 16, 2021 07:42AM EDT

iCAD Shares On The Rise After FDA Approval For Third Version Of ProFound AI For 3D Mammography

The FDA has approved iCAD Inc's (NASDAQ: ICAD) ProFound AI Version 3.0 for Digital Breast Tomosynthesis (also known as "3D" mammography used to improve the ability to detect early breast cancers).

* Compared to previous versions of the software, the ProFound AI 3.0 algorithm offers up to a 10% improvement in specificity performance and a 1% improvement in sensitivity.

* The new version also offers up to 40% faster processing.

* Price Action: ICAD shares are trading 16.9% higher at $21.9 in the premarket trading on the last check Tuesday.