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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 initiated an underwritten public offering of its common stock, with the potential for underwriters to purchase an additional 15% of the shares. Proceeds will be allocated for general corporate uses, including working capital and R&D. The offering is subject to market conditions, and investors are advised to review a preliminary prospectus supplement to be filed with the SEC for more detailed information. Piper Sandler and Stifel are managing the offering.
ViewRay announced its Q3 2021 financial results, reporting total revenue of $19.2 million, up from $10.1 million in Q3 2020. The company received seven new MRIdian system orders worth $39.4 million, marking a 24% increase in total orders year-to-date. Gross profit turned positive at $1.9 million compared to a loss of $1.1 million in the previous year. However, the net loss was $25.3 million, slightly improved from $28.1 million in Q3 2020. ViewRay maintains its 2021 revenue guidance of $63 million to $73 million.
ViewRay (NASDAQ: VRAY) announced promising results from a study on MRIdian SMART treatment for inoperable pancreatic cancer, presented at the ASTRO conference. The study of 148 patients showed a median survival of 26 months, significantly higher than the 12-15 months typically seen with standard treatments. The 2-year survival rate exceeded 50%, more than double the expected rate. Local tumor control rates were 94.6% at 1 year and 83% at 2 years, with low adverse event rates. This non-invasive therapy offers hope for patients with limited treatment options.
ViewRay, Inc. (NASDAQ: VRAY) has announced that Helsinki University Hospital has purchased a MRIdian® System for MR-guided radiation therapy at the Comprehensive Cancer Center in Finland. This center, the largest of its kind in the country, is recognized for its world-class treatment results. The MRIdian System will enhance the oncology department's capabilities, allowing for the treatment of previously untreatable tumors. Nearly 16,000 patients have benefited from MRIdian SMART, which has proven effective in various solid tumors.
ViewRay, Inc. (NASDAQ: VRAY) announced that Baptist Health South Florida will acquire a second MRIdian MR-guided radiation therapy system, enhancing its services at the Lynn Cancer Institute. This expansion complements an existing program at Miami Cancer Institute and positions Lynn as one of three centers in South Florida to offer this advanced technology. The MRIdian system allows real-time monitoring and accurate radiation delivery, improving patient outcomes. With 46 systems installed globally and nearly 16,000 patients treated, ViewRay continues to lead in innovative cancer care solutions.
ViewRay, Inc. (Nasdaq: VRAY) will host a Virtual Clinical Data Event for investors and analysts on October 28, 2021, at 8:30 am ET. The event, featuring Dr. Michael Chuong and Dr. Himanshu Nagar, will showcase the clinical advancements related to the MRIdian® MR-Guided Radiation Therapy System. Interested participants can register starting October 21, 2021. Following the event, a replay will be available on ViewRay's website. The company continues to navigate industry challenges, including COVID-19's impact on operations and clinical trials.
ViewRay, Inc. (Nasdaq: VRAY) announced it will release its third quarter 2021 financial results on November 4, 2021, followed by a conference call at 4:30 p.m. ET. The call will discuss anticipated future orders and financial performance related to its MRIdian® MR-Guided Radiation Therapy System. A live webcast will be available on the investor relations page, with a replay accessible for 14 days post-call. ViewRay highlighted the importance of addressing challenges in advanced radiation oncology through its innovative technology amidst potential market uncertainties and risks.
ViewRay, Inc. (NASDAQ: VRAY) announced FDA acceptance for their 510(k) submission introducing new MRIdian features aimed at improving adaptive workflow efficiency and clinical application. Key innovations include automated workflow steps, multi-planar tissue tracking, and a brain treatment package. More than 14,300 patients have been treated with MRIdian SMART, utilized across 45 global systems. ViewRay will showcase these advancements at the ASTRO 2021 conference in Chicago from October 24-26, emphasizing the demand for accelerated treatment and diversified applications.
ViewRay, Inc. (NASDAQ: VRAY) announced participation in the Cantor Global Healthcare Conference on September 28, 2021. CEO Scott Drake and CFO Zach Stassen will engage in a fireside chat at 10:00 a.m. Eastern Time. Investors can access an audio webcast of the presentation via the company's investor relations website, with a replay available for seven days following the event.
ViewRay specializes in the MRIdian® MR-Guided Radiation Therapy System, addressing unique challenges in radiation oncology.
ViewRay, Inc. (NASDAQ: VRAY) announced that Amsterdam UMC has begun offering same-day ablative treatment using the MRIdian system for lung tumors, enhancing patient convenience. This innovative approach reduces the need for multiple hospital visits by combining consultation and treatment in one session. Since its introduction in May 2016, MRIdian has treated over 1,200 patients, optimizing radiation therapy with real-time tracking for better outcomes. The program will expand to various tumor sites beyond lung cancer.
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