Welcome to our dedicated page for VAR news (Ticker: VAR), a resource for investors and traders seeking the latest updates and insights on VAR stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect VAR's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of VAR's position in the market.
Varian has joined the Cancer Drug Development Forum (CDDF) as the first medical technology company, aiming to advance cancer drug development and access. This partnership will enhance multidisciplinary cancer care by integrating drug advancements with radiotherapy and physical therapies. Ricky Sharma, VP of Clinical Affairs, emphasized the importance of collaboration in discovering effective cancer treatment combinations. The CDDF Industry Partners Platform now includes Varian, expanding its scope to facilitate innovative oncology drug development.
Varian has commenced the installation of the ProBeam® 360° proton therapy system at Penn Medicine Lancaster General Health's Ann B. Barshinger Cancer Institute, making it the first center globally to feature this technology. The cyclotron and gantry play essential roles in delivering advanced cancer treatment, expected to start in 2022. This collaboration aims to enhance cancer care in South Central Pennsylvania through innovative solutions like ARIA® and Eclipse™ software, which incorporates machine learning for personalized treatment planning.
Varian reported a 6% decline in total revenues for Q1 2021, totaling $779 million, with Oncology Systems revenues down 5%. Gross orders increased 2% to $789 million. GAAP operating earnings grew 7% to 15.1% of revenues, while GAAP net earnings rose 9% to $96.5 million, or $1.05 per diluted share. The company holds $773 million in cash and $210 million in debt. Varian is finalizing its merger with Siemens Healthineers, valued at $16.4 billion, expected to conclude in H1 2021.
Varian announced its first quarter fiscal year 2021 earnings release date, scheduled for January 26, 2021, after market close. The company will not hold a conference call due to its pending transaction with Siemens Healthineers. Varian has been a leader in cancer care technologies for over 70 years and continues to innovate using AI and data analytics. Investors can subscribe for alerts on company news via their website.
Varian (NYSE: VAR) and Cincinnati Children's/UC Health Proton Therapy Center have launched the first clinical trial of FLASH therapy, marking a significant milestone. The FAST-01 study aims to enroll up to 10 patients with bone metastases to evaluate the feasibility, side effects, and efficacy of ultra-high dose radiation therapy. The initial patient was treated this week, with plans to extend FLASH therapy to other cancers. Experts express optimism that this approach could revolutionize cancer care by reducing side effects while increasing treatment effectiveness.
Varian (NYSE: VAR) announced a $10M investment and collaboration with COTA, Inc. to enhance oncology data analytics and decision support tools. This partnership aims to leverage real-world evidence to optimize cancer care. Varian will integrate COTA's analytics services, which focus on compiling fragmented electronic health record (EHR) data, to improve their Intelligent Cancer Care initiative. COTA will use the funding to expand its services globally, bringing Varian's total investment in COTA to $20M through previous funding rounds.
Varian reported its fourth quarter fiscal year 2020 results, revealing a 3% decline in total revenues to $850 million and a 11% drop in GAAP operating earnings. Oncology Systems gross orders fell 8% to $1 billion. Despite these declines, net cash from operations surged 126% to $266 million. The company highlights its pending merger with Siemens Healthineers, valued at $16.4 billion, expected to close in early 2021. GAAP net earnings per share rose 8% to $0.83, while non-GAAP earnings per share decreased 8% to $1.12.
Varian (NYSE: VAR) commends the United States Trade Representative and Brazil's Ministry of Development for initiating a trade agreement aimed at enhancing regulatory practices, trade facilitation, and combating corruption. CEO Dow Wilson, who co-chairs the U.S.-Brazil CEO Forum, highlighted the importance of this historic agreement for economic prosperity. Varian aims to support its implementation and further reduce trade barriers between the U.S. and Brazil. The company continues to focus on its vision of innovative cancer care technologies and expanding access to treatment.
Varian (NYSE: VAR) reaffirms its dedication to Intelligent Cancer Care™ at the virtual 2020 American Society for Radiation Oncology (ASTRO) from October 24-31. Highlighting innovative technologies, Varian will present eleven studies, focusing on its Ethos® adaptive radiotherapy system and data from the AI-driven Adaptive Intelligence Consortium. CEO Dow Wilson emphasized the impact of Ethos® in personalizing cancer treatment, resulting in a significant presence at ASTRO 2020. Attendees can register for educational sessions through Varian's dedicated platform.
