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ViewRay, Inc. (Nasdaq: VRAY) is a trailblazer in the field of MRI-guided adaptive radiotherapy. The company designs, manufactures, and markets the MRIdian® radiation therapy system, an innovative solution aimed at addressing the key limitations of conventional external-beam radiation therapy technologies. Using cutting-edge MRI-based technology, the MRIdian system provides real-time imaging that precisely distinguishes the targeted tumor from surrounding soft tissue and critical organs during radiation treatment.
One of the standout features of the MRIdian system is its capability to record the level of radiation exposure the tumor receives and adapt the treatment prescription as needed. This adaptive approach enhances the safety and efficacy of radiation therapy, which ViewRay believes will lead to better patient outcomes.
ViewRay has established itself as a visionary in the medical field, dedicated to providing doctors with advanced tools to improve cancer treatment through radiation therapy. The company prides itself on its entrepreneurial spirit and unwavering commitment to innovation and excellence.
Among its recent achievements, ViewRay announced that the VA Oklahoma City Healthcare System has selected the MRIdian system to expand its radiation therapy services. This marks the first cancer center in Oklahoma to offer Veterans access to MRIdian's advanced MRI-guided radiation therapy. The system will enable precision treatment for various cancers, including pancreas, prostate, lung, liver, breast, and oligometastatic disease.
The Veterans Health Administration, the largest integrated healthcare system in America, is actively incorporating MRIdian technology across multiple VA medical centers. This expansion highlights the growing recognition of MRIdian's short-course non-invasive therapy, which promises fewer side effects and improved quality of life for patients.
To date, over 31,000 patients worldwide have been treated using MRIdian systems, with 62 installations in hospitals across the globe. These systems are employed to treat a diverse range of solid tumors and are subjects of numerous ongoing research studies. The MRIdian system has been featured in hundreds of peer-reviewed publications and scientific presentations, underscoring its clinical significance and impact.
For a list of treatment centers utilizing MRIdian technology, visit ViewRay's website.
ViewRay, Inc. (NASDAQ: VRAY) has announced the installation of its first MRIdian MR-Guided Radiation Therapy System at MD Anderson Cancer Center in Houston, Texas. This system allows for real-time imaging and adaptive radiation therapy, potentially improving treatment outcomes for cancer patients. MD Anderson is recognized as a leading cancer treatment center, enhancing the credibility and visibility for ViewRay's technology. Since its inception, nearly 25,000 patients have been treated with MRIdian, and the system is installed in 54 hospitals worldwide.
ViewRay, Inc. (NASDAQ: VRAY) will present at the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 8:00 a.m. ET. Scott Drake, President and CEO, and Zach Stassen, CFO, will participate in a fireside chat during this event. An audio webcast will be accessible on the investor relations section of ViewRay's website and will be available for replay for 7 days post-presentation.
ViewRay specializes in designing and marketing the MRIdian MRI-Guided Radiation Therapy System, tailored to enhance advanced radiation oncology.
ViewRay (Nasdaq: VRAY) announced a significant expansion in the UK market through a new agreement with GenesisCare, which has purchased two additional MRIdian MRI-guided radiation therapy systems. This acquisition will double the number of MRIdian systems in the UK to four, with installations planned for Guildford and Birmingham. The total worldwide network will grow to six systems, enhancing patient access to advanced cancer treatments. GenesisCare's network includes over 440 centers, seeing more than 400,000 patients annually.
ViewRay, Inc. (NASDAQ: VRAY) announced that its MRIdian MRI-Guided Radiation Therapy System received approval from China's National Medical Products Administration (NMPA). This approval expands MRIdian's global reach and introduces MRIdian SMART, enhancing treatment options for cancer patients in China, where approximately 4.6 million new cancer cases arise annually. The MRIdian system offers real-time tracking and adaptive planning, aiming to improve patient outcomes and quality of life. Nearly 25,000 patients have been treated worldwide with MRIdian.
ViewRay, Inc. (Nasdaq: VRAY) announced that the VA Houston Healthcare System has selected the MRIdian MRI-guided radiation therapy system, becoming the first hospital in Texas and third VA hospital to do so. This technology will enhance cancer treatment options for veterans with various cancers, including pancreas and prostate. The MRIdian system offers real-time MRI visualization and adaptive therapy, improving treatment precision while minimizing exposure to healthy tissue. With nearly 25,000 patients treated and 53 systems installed worldwide, ViewRay continues to innovate in advanced radiation therapy.
ViewRay, Inc. (NASDAQ: VRAY) announced that the National Cancer Center Hospital (NCCH) in Japan upgraded to the MRIdian Linac System for MRI-guided radiation therapy. This system enhances treatment for various cancers, allowing for daily adaptive radiotherapy and real-time tracking. NCCH previously purchased a MRIdian system in 2016, and their first patient was treated using the upgraded system in July 2022. The MRIdian technology aims to improve targeting precision and reduce collateral damage to healthy tissues. Over 25,000 patients have been treated globally with MRIdian systems.
ViewRay, Inc. (Nasdaq: VRAY) is relocating its headquarters to Denver, Colorado, effective August 15, 2022. This move aims to attract top talent from Colorado's robust medical technology sector, where ViewRay has expanded its workforce from fewer than ten to over 50 employees since 2019. The company plans further growth by adding high-paying roles in product development and manufacturing. Colorado, home to 720 life sciences companies, provides an ideal environment for ViewRay's mission to enhance cancer therapy, leveraging its advanced MRIdian® radiation therapy systems.
ViewRay has partnered with Katie Couric Media to launch a national awareness campaign for MRIdian SMART, aimed at educating both patients and clinicians about innovative cancer treatments. The MRIdian system, which has treated nearly 25,000 patients globally, offers significant advantages in managing various cancers, resulting in favorable patient outcomes and reduced side effects. Katie Couric's advocacy aligns with ViewRay's mission to improve cancer care. However, the campaign will emphasize the importance of understanding MRIdian's clinical benefits and accessibility through insurance coverage.
ViewRay, Inc. (Nasdaq: VRAY) reported second quarter 2022 financial results, showing revenue of $22.1 million, up from $15.0 million in Q2 2021. The company received eight new orders for MRIdian systems worth $46.3 million, increasing backlog to $352.8 million. Gross profit turned positive at $1.1 million versus a loss of $1.7 million a year prior. Operating expenses rose to $30.9 million including a $1.8 million impairment charge, leading to a net loss of $27.6 million. The 2022 revenue forecast has been raised to a range of $90-$104 million.
ViewRay, Inc. (NASDAQ: VRAY) has announced that Centre Oscar Lambret in Lille, France will be the first in the Hauts de France region to implement the MRIdian MRI-Guided Radiation Therapy System. This facility, dedicated to cancer treatment and research, aims to enhance care through advanced technology, potentially treating around 3,500 patients annually. Expected to commence treatments in early 2024, the MRIdian system allows for real-time imaging and adaptive treatment planning, optimizing radiation delivery to minimize exposure to healthy tissue. Over 24,000 patients have previously benefited from this technology.
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