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About Accuray Incorporated
Accuray Incorporated (NASDAQ: ARAY) is a global leader in radiation oncology, dedicated to advancing cancer care through cutting-edge radiation therapy and radiosurgery solutions. Headquartered in Madison, Wisconsin, the company develops, manufactures, and markets innovative technologies that enable healthcare providers to deliver precise, non-invasive treatments for a wide range of cancers and neurological conditions. With a focus on improving patient outcomes and expanding access to care, Accuray’s systems are designed to meet the diverse needs of clinicians and patients worldwide.
Core Technologies and Solutions
Accuray’s flagship products include the CyberKnife® System, a robotic radiosurgery platform, and the Radixact® System, an advanced helical radiation therapy device. These systems are equipped with proprietary features such as Synchrony® real-time motion tracking and ClearRT® imaging, enabling sub-millimeter accuracy in radiation delivery. The CyberKnife System is renowned for its ability to treat tumors in just 1 to 5 outpatient sessions, making it a preferred choice for patients requiring ultra-hypofractionated therapy. Similarly, the Radixact System’s continuous 360-degree helical delivery allows for precise dose conformity, minimizing radiation exposure to healthy tissues.
Market Position and Global Reach
Operating in the highly competitive radiation therapy market, Accuray distinguishes itself through its focus on robotic precision and adaptive technologies. The company has a strong presence in emerging markets, particularly in China, where its joint venture has facilitated the introduction of systems like the Tomo® C and Radixact SynC. Recent regulatory approvals for the CyberKnife S7™ and Radixact SynC Systems underscore Accuray’s commitment to addressing the growing demand for advanced cancer treatments in underserved regions.
Commitment to Innovation
Accuray’s 30-year legacy of innovation is exemplified by its continuous development of groundbreaking solutions, such as the recently launched Helix™ System, designed to improve access to radiotherapy in non-urban areas. The company also invests in clinical research, with studies like the PACE-B trial demonstrating the efficacy of its technologies in reducing treatment times while maintaining high rates of cancer control. These efforts align with Accuray’s mission to set new standards of care in radiation therapy.
Challenges and Opportunities
While Accuray faces challenges such as supply chain disruptions and competitive pressures, its strategic initiatives—such as expanding its service business and entering high-growth markets—position it for long-term success. The company’s focus on partnerships, like its collaboration with TrueNorth Medical Physics, further enhances its ability to support healthcare providers in delivering personalized, high-quality care.
Impact on Patients and Clinicians
Accuray’s technologies empower clinicians to treat complex cases with confidence, offering patients shorter treatment durations, reduced side effects, and improved quality of life. By combining precision, adaptability, and accessibility, Accuray is transforming the way cancer is managed, enabling more patients to benefit from life-saving radiation therapy.
Accuray (NASDAQ: ARAY) announced that Auckland Radiation Oncology (ARO) has become the first center in New Zealand to use the advanced CyberKnife S7™ System for precise cancer treatments. This system allows for stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT) with high accuracy, often requiring only 1 to 5 outpatient sessions. The CyberKnife System enhances treatment efficiency, enabling ARO to treat more patients daily. CEO Suzanne Winter emphasized that this innovation broadens access to effective cancer care, while ARO’s Clinical Director Dr. Benji Benjamin noted the system’s potential to greatly improve treatment precision and minimize side effects.
Accuray Incorporated (NASDAQ: ARAY) will participate in the B. Riley Securities' 3rd Annual Oncology Conference on January 18-19, 2023. A virtual Fireside Chat is scheduled for January 18 at 7:00am PST/10:00am EST. The conference showcases over 30 healthcare companies and features discussions on innovative therapies and technologies in oncology. Attendees can access a live webcast on the Accuray website, with a replay available afterward. Accuray is dedicated to advancing radiation therapy solutions for cancer treatment.
Accuray Incorporated (NASDAQ: ARAY) reported its recognition for superior service in radiation oncology in the IMV ServiceTrak™ Radiation Oncology 2022 report, achieving the highest overall service performance scores in the industry. The company excelled in customer satisfaction, particularly in fields like service follow-up and field engineer competence. Customers praised Accuray's commitment to support and innovation. This marks the third consecutive year of increased customer repurchase intent for Accuray's radiation delivery systems, reflecting their dedication to quality and technological advancement.
Accuray (NASDAQ: ARAY) announced the installation of its second Radixact® System at the Oscar Lambret Center in Lille, France, enhancing cancer treatment capabilities. This system integrates ClearRT™ kVCT Imaging and Synchrony® technologies, improving treatment precision and versatility for various cancers. The Oscar Lambret Center, part of Unicancer, has a long history of utilizing Accuray technology. This partnership aims to deliver personalized, high-quality care, adapting to patient needs and medical conditions, ultimately increasing community treatment access.
Accuray Incorporated (NASDAQ: ARAY) reported Q1 fiscal 2023 results with net revenue of $96.5 million, down 10% year-over-year, affected by supply chain constraints and a $5.8 million foreign exchange hit. Gross orders were flat at $69.8 million, with a 6.5% increase on a constant currency basis. The GAAP net loss widened to $5.4 million, compared to a loss of $1.0 million last year. Adjusted EBITDA decreased to $1.9 million from $5.4 million. The company maintains its full-year guidance, highlighting strong demand for its precision radiation therapy solutions amidst ongoing challenges.
Accuray (NASDAQ: ARAY) has submitted the registration dossier for its Tomo® C radiation therapy system to China's National Medical Products Administration (NMPA). This milestone, shared during the Q4 FY2022 earnings call, aims to enhance access to radiation treatment for cancer patients in China. The Tomo C system is noteworthy as it is the first joint venture product made in China and addresses the growing demand for effective cancer therapies, with new cases projected to rise by 50% by 2040. Suzanne Winter, CEO, highlighted the expected growth in the Type B market, reinforcing Accuray's competitive edge.
Accuray Incorporated (NASDAQ: ARAY) announced that the CyberKnife® System has received reimbursement approval from Japan's Ministry of Health, Labor and Welfare for treating trigeminal neuralgia (TN). TN is a painful condition affecting the trigeminal nerve, impacting daily life significantly. The approval enables patients in Japan to access this innovative treatment, which offers a precision alternative to traditional methods. The CyberKnife System's unique technology allows for accurate radiation delivery in a single outpatient procedure, enhancing treatment options for the approximately 5,000 people affected by TN in Japan.
GE Healthcare and Accuray Incorporated (NASDAQ: ARAY) have signed a global commercial collaboration agreement aimed at enhancing personalized cancer treatment. The partnership will merge GE's advanced diagnostic tools with Accuray's radiation therapy technologies to improve patient care throughout the cancer journey, focusing initially on lung and brain cancers. This collaboration promotes early detection and precise treatment delivery, while also emphasizing digitalization and interoperability in healthcare systems. The companies aim to increase access to effective radiation therapy for cancer patients globally.
Accuray Incorporated (NASDAQ: ARAY) will announce its financial results for the first quarter of fiscal year 2023, which concludes on September 30, 2022, after market close on November 2, 2022. Following the release, management will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. The call can be accessed via dial-in numbers or through a live webcast on their Investor Relations website.
Accuray is focused on innovative radiation therapy solutions for oncology and neuro-radiosurgery, aiming to enhance patient outcomes.
Accuray Incorporated (NASDAQ: ARAY) has partnered with C-RAD AB to introduce a new breast cancer treatment package for the Radixact® System, set to be unveiled at the ASTRO Annual Meeting in San Antonio, Texas, from October 23-26, 2022. This package features an integrated Deep Inspiration Breath Hold (DIBH) solution that enhances treatment precision and safety for breast cancer patients. Accuray's advancements in the Radixact System reflect their commitment to innovation in radiation therapy, particularly relevant during Breast Cancer Awareness Month.
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