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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) will release its financial results for the third quarter of fiscal year 2022, covering the period ending March 31, 2022, on April 27, 2022. A conference call to discuss these results will take place at 1:30 PM PT / 4:30 PM ET on the same day. Interested parties can join via dial-in numbers or listen to a live webcast through the company's Investor Relations website. The replay will be available shortly after the call for one week.
Accuray (NASDAQ: ARAY) announced that a study on its CyberKnife System, treating trigeminal neuralgia (TN) patients, showed a 72% pain relief rate after 10 years. The study was recognized as the Best Clinical Abstract at the 2022 Radiosurgical Society Meeting. TN, a severe chronic pain condition, affects many individuals, especially those over 50. The CyberKnife offers a non-invasive treatment option, proving effective over long-term follow-ups, which enhances its market position in radiation therapy for complex medical conditions.
Accuray Incorporated (NASDAQ: ARAY) has partnered with CARTI in Arkansas, marking the launch of the CyberKnife S7 System, which provides advanced radiation therapy. This innovative technology allows treatment in just 1 to 5 sessions, compared to the 30-40 sessions typical of conventional methods. The CyberKnife platform enhances the accessibility of precise radiation treatments, especially for patients in rural areas who faced travel barriers. This initiative aims to improve cancer care across Arkansas, positioning CARTI as the sole provider of the CyberKnife System in the state.
Accuray Incorporated (NASDAQ: ARAY) has received endorsement from the National Institute for Health and Care Excellence (NICE) for its CyberKnife® Treatment Delivery System for treating trigeminal neuralgia (TN) in the UK. This endorsement enhances access to a precision radiosurgery alternative for managing TN, which causes severe facial pain. The CyberKnife system achieves pain control in nearly 95% of TN patients within 2-4 weeks and offers a minimally invasive outpatient procedure. However, availability may vary based on health insurance and licensing processes.
Accuray Incorporated (NASDAQ: ARAY) announced its participation in the Cowen 42nd Annual Health Care Conference set for March 7-9, 2022. The company's management will hold a virtual Fireside Chat on March 7 at 9:50 AM PST / 12:50 PM EST. Interested parties can access the live webcast on the Accuray investor website, with a replay available afterward. Accuray is dedicated to advancing radiation therapy solutions for complex oncology and neuro-radiosurgery cases.
Accuray announced that Royal Brisbane and Women's Hospital in Queensland, Australia, has selected two Radixact Systems equipped with ClearRT imaging and Synchrony technology to enhance radiotherapy services. This upgrade will replace older TomoTherapy Systems, allowing for improved precision and efficiency in radiation treatment. RBWH, a leading cancer care facility, aims to increase patient throughput and deliver personalized treatments. The partnership highlights Accuray's commitment to innovation in cancer care.
Accuray Incorporated (NASDAQ: ARAY) announced significant results from its Phase III TomoBreast trial, showing that hypofractionated radiotherapy via the TomoTherapy System preserves long-term heart and lung function in early breast cancer patients. The study revealed a 10-year survival rate free of heart and lung deterioration at 84.5% compared to 66.9% with conventional therapy. The trial involved 123 women and was published in BMC Cancer. The findings suggest that TomoTherapy may reduce side effects and enhance patient recovery times.
Accuray Incorporated (NASDAQ: ARAY) will participate in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference from February 15-17, 2022. The management team is set to engage in a virtual fireside chat on February 16, 2022, at 3:30 PM EST / 12:30 PM PST. This event is designed for BTIG clients and offers opportunities for one-on-one meetings with management. Accuray is dedicated to enhancing radiation therapy innovation to improve patient outcomes across various conditions.
Accuray Incorporated (NASDAQ: ARAY) reported a record net revenue of $116.3 million for Q2 FY2022, up 19% year-over-year. Gross orders reached $85.4 million, a 13% increase. However, net income dropped to $0.2 million from $4.8 million in the prior year, while adjusted EBITDA also fell to $6.8 million from $13.5 million. Operating expenses rose by 18% to $38.6 million. The company faces global supply chain challenges but has strong demand for its new technologies, including ClearRT™ and CyberKnife® products.
Accuray Incorporated (NASDAQ: ARAY) will announce its second-quarter fiscal 2022 financial results on January 26, 2022, after market close. A conference call to discuss the results will be held at 1:30 PM PT / 4:30 PM ET on the same day. Dial-in numbers for the call are provided, along with information about accessing a live webcast and replay. Accuray focuses on innovative radiation therapy solutions to address complex patient needs, enhancing treatment efficiency in oncology and neuro-radiosurgery.
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