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Accuray Incorporated (NASDAQ: ARAY) is a pioneering radiation oncology company dedicated to advancing precise, innovative tumor treatment solutions. Headquartered in Madison, Wisconsin, Accuray develops, manufactures, and markets cutting-edge technology designed to deliver a full spectrum of radiation therapy and radiosurgery treatments. Their flagship products, such as the CyberKnife® and Radixact® Systems, set new standards in cancer treatment by offering unparalleled precision and real-time tumor tracking capabilities.
The CyberKnife® System utilizes a non-invasive robotic platform to treat various types of cancer and tumors throughout the body. This system excels through its ability to track, detect, and correct for tumor and patient movement in real-time during procedures, enhancing the accuracy of radiation delivery. This unique approach ensures high-dose radiation is administered with sub-millimeter precision, allowing patients to breathe normally without manual intervention.
Accuray's recent achievements include significant milestones in product development and market expansion. In October 2023, the company announced the Chinese National Medical Products Administration's approval of the CNNC-Accuray joint venture Tomo® C radiation therapy system. This system, tailored for the Chinese Type B market, aims to expand access to radiotherapy treatments, addressing the country's growing demand for cancer care solutions.
Financially, Accuray has demonstrated robust performance. According to their first-quarter fiscal 2024 report, the company achieved a total net revenue of $103.9 million, reflecting a year-over-year increase. Despite a net loss of $3.0 million, the company reported a significant improvement in gross profit margins, emphasizing its strategic focus on revenue growth and operational efficiency.
Accuray remains committed to continuous innovation. The launch of the VitalHold™ package supporting surface-guided radiation therapy (SGRT) on the Radixact® System in Japan highlights their ongoing efforts to enhance treatment options. This feature enables deep inspiration breath hold (DIBH) treatments, particularly for breast cancer, thereby improving patient outcomes and reducing treatment-associated stress.
The company's dedication to excellence is further exemplified by its recent partnerships and educational initiatives. In April 2024, Accuray opened a new training center in Genolier, Switzerland, which serves as a European hub for advanced radiosurgery and radiotherapy training. This facility aims to elevate the skills and knowledge of medical professionals, ensuring the delivery of high-quality, precise treatments.
Accuray's vision of transforming patient care is evident in their continuous pursuit of technological advancements and strategic collaborations. Their products not only enhance the precision and effectiveness of cancer treatments but also contribute to improved patient quality of life post-treatment. With a strong commitment to innovation, Accuray is well-positioned to lead the radiation therapy industry into the future.
Accuray Incorporated (NASDAQ: ARAY) received approval from Japan's Ministry of Health to market its CyberKnife® Robotic Radiosurgery System for treating trigeminal neuralgia (TN). This expands access to a high-precision treatment already in use in the U.S. and EIMEA. TN, characterized by severe facial pain, often necessitates ongoing medical care. Notably, 93.5% of patients experience relief from TN after three weeks using CyberKnife. This approval paves the way for potential reimbursement under Japan's health insurance system, enhancing treatment options for TN patients.
Accuray Incorporated (NASDAQ: ARAY) announced valuable findings supporting its CyberKnife robotic radiotherapy platform, which has shown effective treatment for neurological diseases through stereotactic radiosurgery. A recent analysis of over 7,000 patients from Stanford University highlighted the platform's growing acceptance and ability to treat various brain and spinal lesions. The CyberKnife enables precise, non-invasive treatment, potentially improving patient outcomes and quality of life. Advanced features, including AI-driven technology, enhance treatment planning efficiency.
Accuray Incorporated (Nasdaq: ARAY) will participate in Stifel's 2021 Virtual Healthcare Conference on November 16, 2021, at 6:20 am PACIFIC / 9:20 am EASTERN. The management team's presentation can be accessed through the Accuray website post-event, with a replay available for about 90 days. Accuray focuses on innovating radiation therapy solutions aimed at improving patient outcomes in oncology and other complex cases. For more information, visit www.accuray.com.
Accuray Incorporated (NASDAQ: ARAY) reported a record net revenue of $107.4 million for Q1 Fiscal 2022, a significant increase from $85.3 million year-over-year, driven by a strong 39% rise in gross orders totaling $70.0 million. However, the company faced a GAAP net loss of $1.0 million, compared to a net income of $0.4 million in the prior year. Adjusted EBITDA decreased to $5.4 million from $9.0 million. Cash reserves also fell to $105.2 million, down $11.7 million since June 2021, primarily due to bonus payouts and debt repayment.
Accuray Incorporated (NASDAQ: ARAY) announced a study in Frontiers in Oncology indicating that its CyberKnife robotic radiotherapy platform significantly improves survival rates for early-stage breast cancer patients receiving accelerated partial breast irradiation (APBI). The study suggests that CyberKnife's delivery of APBI could reduce the risk of secondary lung cancers and improve patient outcomes compared to traditional techniques. Utilizing advanced technology, CyberKnife offers precise radiation delivery, enhancing treatment efficacy while minimizing damage to surrounding tissues.
Accuray Incorporated (NASDAQ: ARAY) reported preliminary financial results for Q1 fiscal 2022, showcasing significant growth. Revenue reached $107.4 million, up 26% year-over-year from $85.3 million. Gross orders increased 39% to $70 million. Despite a projected GAAP net loss between $2 million and $1 million, the adjusted EBITDA is estimated between $4.5 million and $5.5 million. The company raised its full-year revenue guidance to a range of $420 million to $427 million.
Accuray Incorporated (NASDAQ: ARAY) announced the unveiling of its new VOLO™ Ultra technology for the Radixact® System at ASTRO 2021. This advanced planning solution enhances treatment efficiency and quality, enabling clinicians to treat more patients. Key highlights include the integration of ClearRT imaging and RayStation software support for the CyberKnife platform. Accuray is focused on continuous innovation in radiation therapy, aiming to improve patient outcomes and expand treatment capabilities.
Accuray Incorporated (NASDAQ: ARAY) will announce its financial results for the first quarter of fiscal year 2022 on November 3, 2021. The reporting period ended on September 30, 2021. The management will host a conference call at 1:30 p.m. PT (4:30 p.m. ET) to discuss the results. Dial-in numbers for the call are provided for both the USA and international participants. A live webcast will also be available on the company’s Investor Relations website, along with a replay accessible for one week after the call.
Accuray Incorporated (NASDAQ: ARAY) is set to host an Analyst & Investor Meeting on October 25, 2021, during the ASTRO Annual Meeting. The event will be held in person and virtually, starting at 3:00 PM CT. Attendees will hear from the Accuray leadership team and global experts on innovative radiation therapy solutions. Registration is required by October 19, 2021, and a meeting replay will be available afterward. Accuray aims to revolutionize patient care through continuous innovation in radiation therapy.
Accuray (NASDAQ: ARAY) and C-RAD AB have entered a partnership to enhance the Radixact System for breast cancer treatment. This collaboration aims to integrate deep inspiration breath hold (DIBH) technology, improving treatment precision. Development will start before the end of 2021, with the first interface expected by mid-2022. The Radixact System is noted for its accurate radiation delivery, which helps minimize damage to healthy tissue while effectively targeting tumors. This agreement reflects a mutual commitment to advance radiation therapy solutions for better patient outcomes.
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