IceCure Medical Ltd. announced that Meir Peleg will become its Chief Financial Officer effective May 17, 2026. Peleg brings more than two decades of financial leadership, having served as CFO for multiple Nasdaq‑listed companies and led IPOs and capital raises for organizations that grew to over 700 employees worldwide.
The appointment comes amid strong commercial momentum for the ProSense cryoablation platform. IceCure reported record sales of $3.4 million for 2025, with $1.3 million in the fourth quarter alone. The growth follows FDA clearance on October 3, 2025 for low‑risk breast cancer treatment and a recommendation from the American Society of Breast Surgeons issued in March 2026.
Despite the sales uptick, the company remains in a precarious financial position. For the year ended December 31, 2025, IceCure posted a net loss of $15.1 million and an accumulated deficit of $120.4 million. Operating cash flow was negative $14.6 million, and cash and deposits stood at $8.9 million, prompting auditors to raise substantial doubt about the company’s ability to continue as a going concern.
In addition to the CFO change, IceCure plans to appoint Dr. Richard E. Fine as Medical Director in the second quarter of 2026. The company also intends to triple its U.S. commercial team by the end of 2026 to support the rollout of the post‑marketing study, ChoICE, which will enroll patients across 30 clinical sites and serve as commercial sites.
Reimbursement for ProSense procedures is currently covered by a CPT Category III code that reimburses $4,000 for facility costs, with an anticipated $900 physician reimbursement expected by early 2027. IceCure is pursuing a CPT Category I code for physician costs, with a response expected in early 2028, which could further expand the market for the device.
CEO Eyal Shamir said, "2025 was a pivotal year for IceCure. Following the FDA's clearance for cryoablation of low‑risk breast cancer in October, we had record sales in the fourth quarter and fiscal year, which were driven by growing global adoption of ProSense®. We believe we are just at the beginning of this favorable trend." He added, "We are pleased to welcome Meir to IceCure as we build strong commercial momentum in the U.S. and globally. We believe his extensive experience as a CFO of rapidly growing, publicly traded companies and deep capital markets expertise make him a valuable addition to our leadership team as we scale the business." CFO Peleg commented, "I am excited to join IceCure at this important stage and support its continued growth as commercial adoption of ProSense® expands. IceCure's strong clinical foundation, growing market acceptance, and clear strategic vision present a compelling opportunity, and I look forward to working with the leadership team to strengthen our financial infrastructure and support global growth."
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