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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.
NUBURU has appointed Brian Knaley as Chief Financial Officer, bringing over 25 years of experience, including roles at CEA Industries (Nasdaq: CEAD), ViewRay (Nasdaq: VRAY), and ARC Group Worldwide (Nasdaq: ARCW). His expertise will enhance NUBURU's financial processes and support its growth strategy in blue laser technology. Mr. Knaley previously raised $3 million in a PIPE financing for CEA Industries and has a proven track record of optimizing financial functions.
ViewRay, Inc. (NASDAQ: VRAY) announced that University Hospital Agostino Gemelli has treated over 1,000 patients with its MRIdian MRI-guided radiation therapy, marking a significant milestone in Southern Europe. Starting in February 2017, the center utilized MRIdian technology to enhance treatment precision for tumors. Notably, over 50% of procedures involve stereotactic body radiation therapy, especially for liver and pancreatic cancers. This system offers real-time imaging and tracking, reducing damage to healthy tissue. Currently, 50 MRIdian systems are operational globally, with nearly 18,000 patients treated.
ViewRay, Inc. (Nasdaq: VRAY) will host a Virtual Clinical Data Event on March 16, 2022, at 4:00 pm ET. The event will highlight clinical trials, specifically the MIRAGE and SCIMITAR studies in prostate cancer radiation therapy, featuring Dr. Amar Kishan from UCLA and Dr. Himanshu Nagar from Weill Cornell Medicine. Registration is available on their website, and a replay will be accessible post-event. ViewRay focuses on developing the MRIdian® MR-Guided Radiation Therapy System, designed to enhance radiation oncology.
ViewRay, Inc. (NASDAQ: VRAY) has announced promising results from the Phase II SCIMITAR trial, showing that MRI-guided radiation therapy significantly reduces acute gastrointestinal (GI) toxicity by 30.5% compared to CT-guided treatment. The trial evaluated 100 patients who underwent stereotactic body radiotherapy (SBRT) post-prostatectomy. Findings revealed no instances of grade 3 toxicity among patients treated with MRI guidance. These results were presented at the ACRO 2022 summit, indicating potential advancements in prostate cancer treatment.
ViewRay, Inc. (NASDAQ: VRAY) announced the appointment of Susan Schnabel to its Board of Directors as an independent director, effective March 8, 2022. Schnabel brings extensive financial and operational expertise. The company has also engaged Sai Nanduri from Hudson Executive Capital (HEC) as a consultant to improve shareholder returns, with HEC owning about 8.8% of the company’s common stock. In connection, ViewRay has entered a cooperation agreement with HEC. Kevin Xie resigned from the board on the same date, resulting in a board of nine members, eight of whom are independent.
ViewRay, Inc. (NASDAQ: VRAY) announced the sale of a second MRIdian MRI-guided radiation therapy system to Acibadem Group for installation at Acibadem Altunizade Hospital in Istanbul, Turkey. Acibadem has been utilizing an MRIdian since September 2018, aiding in treatments for various cancers. This new system aims to enhance capabilities in neuro-oncology and thoracic-oncology. The MRIdian system is designed for real-time tracking and adaptive therapy, treating nearly 18,000 patients worldwide and featuring 50 installations globally.
ViewRay, Inc. (Nasdaq: VRAY) reported its financial results for Q4 and full year 2021, showcasing a revenue increase to $70.1 million, up from $57.0 million in 2020. The company secured 28 orders worth $158.9 million, boosting its backlog to $313.4 million. For Q4 2021, revenue was approximately $20.4 million, with seven new system orders worth $40.7 million. Despite these gains, the company reported a net loss of $110 million for the year. Looking ahead, ViewRay forecasts 2022 revenue between $84 million and $104 million.
On February 15, 2022, ViewRay (NASDAQ: VRAY) announced interim data from the Phase III MIRAGE trial, led by UCLA, which highlights the superiority of MRIdian MRI-guided SBRT over CT-guided SBRT in treating localized prostate cancer. The interim analysis showed a significant reduction in acute grade ≥2 GU toxicity (22.4% vs. 47.1%) and gastrointestinal toxicity (0% vs. 13.7%) in patients receiving MRI-guided treatment. Due to compelling results, the trial's sample size was reduced from 300 to 154, maintaining 89% power for superiority. The final analysis is expected in early 2022.
ViewRay, Inc. (Nasdaq: VRAY) has announced a conference call scheduled for February 24, 2022, at 4:30 p.m. ET to discuss its fourth quarter and full year 2021 financial results. Domestic callers can dial (844) 277-1426, while international callers should use (336) 525-7129. A live webcast will also be available on the company's investor relations page. ViewRay specializes in the MRIdian® MR-Guided Radiation Therapy System, designed for advanced radiation oncology applications, addressing challenges such as beam distortion and skin toxicity.
ViewRay, Inc. (NASDAQ: VRAY) announced participation in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 17, 2022. Chief Financial Officer Zach Stassen and VP of Clinical Affairs Paul Strong will host a virtual fireside chat at 3:00 p.m. Eastern Time. The conference is exclusive to BTIG clients, and interested parties should contact their BTIG representative to attend. ViewRay designs and markets the MRIdian MR-Guided Radiation Therapy System, addressing unique challenges in advanced radiation oncology.
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