Shares of cancer detection and cancer therapy solutions provider iCAD (NASDAQ:ICAD) are in the green today on the back of its development and commercialization deal with Google (NASDAQ:GOOGL)(NASDAQ:GOOG) .
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Under the agreement, Google Health’s AI technology will be integrated with ICAD’s breast imaging AI solutions. The two companies will also work on enhancing ICAD’s solutions for mammography and expanding access to the technology.
Further, ICAD will utilize the licensed technology from Google to enhance its 3D and 2D AI algorithms and will bring the developed products to market.
Despite today’s price gains, ICAD shares are still down nearly 76% over the past year. The Street, in the meantime, has a Strong Buy consensus rating on the stock alongside an average price target of $5.20.
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