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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) announced that UCLA Health has treated over 1,000 patients using the MRIdian MRI-guided radiation therapy system. This milestone places UCLA as the fourth MRIdian center globally. Since acquiring the technology in October 2014, UCLA has utilized the upgraded MRIdian Linac system, focusing on cancers like pancreatic and prostate. Key clinical trials, including the SMART Trial, emphasize MRIdian's role in enhancing radiation therapy precision. More than 14,300 patients have benefitted from MRIdian, with 45 systems in operation worldwide.
ViewRay, Inc. (Nasdaq: VRAY) reported its second-quarter financial results for 2021, showing promising order growth with seven new MRIdian system orders totaling $37.9 million, up from four orders worth $24.6 million in Q2 2020. Revenue reached $15.0 million, compared to $14.2 million last year, while backlog increased to $278.4 million. However, the company recorded a net loss of $31.0 million, reflecting a rise from $26.2 million in the prior year. Total cash and cash equivalents stood at $166.9 million. The company anticipates full-year revenue between $63 million and $73 million.
ViewRay, Inc. (Nasdaq: VRAY) announced that it will release its second quarter 2021 financial results on August 5, 2021. A conference call to discuss these results will take place at 4:30 p.m. ET. Investors can access the call via ViewRay's investor relations page. The company focuses on its MRIdian® MR-Guided Radiation Therapy System, which addresses key challenges in radiation oncology. Forward-looking statements highlight potential risks including product demand and supply chain issues.
ViewRay, Inc. (NASDAQ: VRAY) announced that the Miami Cancer Institute has enrolled the first patients in the SMART ONE trial, a study investigating single-fraction stereotactic MRI-guided adaptive radiation therapy for inoperable cancers. Led by Dr. Michael Chuong, the trial aims to assess the feasibility and tolerability of this advanced therapy, which utilizes MRI for enhanced visualization during treatment. The MRIdian system allows for precise radiation delivery while minimizing impact on healthy tissues, potentially reducing treatment time and costs for patients.
ViewRay, Inc. (NASDAQ: VRAY) has announced a master purchase agreement with GenesisCare for up to 14 MRIdian® MR-Guided Therapy Systems, expanding services in the United Kingdom and Ft. Myers, Florida. GenesisCare aims to provide advanced treatment for cancer patients globally with over 440 centers across multiple countries. The MRIdian system enhances radiation therapy precision, minimizing damage to healthy tissue. ViewRay's collaboration with GenesisCare marks a significant milestone, promising to improve patient care and treatment outcomes.
GenesisCare expands its partnership with ViewRay (NASDAQ: VRAY) by acquiring new MRIdian® MR-Guided Therapy Systems for enhanced radiation therapy. The initial installations will take place in Fort Myers, Florida, before extending to the UK and other regions. The MRIdian system offers oncologists superior visualization and real-time tracking of tumors, enabling tighter treatment margins and less radiation exposure to healthy tissues. With over 12,500 patients treated and 43 systems installed worldwide, this collaboration aims to improve cancer care accessibility and effectiveness.
ViewRay, Inc. (Nasdaq: VRAY) has appointed Karen N. Prange to its Board of Directors effective June 11, 2021, following stockholder approval at the 2021 Annual Meeting. Prange brings over 25 years of experience in healthcare leadership, having served on the boards of several medical device companies. She expressed enthusiasm about advancing ViewRay's mission in innovative cancer therapy. The meeting also marked the end of Scott Huennekens' term on the board, with appreciation for his contributions. The company continues to focus on its MRIdian® MRI-Guided Radiation Therapy System.
ViewRay, Inc. (Nasdaq: VRAY) announced that American Hospital in Istanbul, Turkey, has purchased the MRIdian MRI-guided radiation therapy system to enhance their radiotherapy and SBRT programs. The addition supports personalized adaptive radiotherapy, allowing treatments for various cancers including lung and prostate. Professor Uğur Selek indicated that MRIdian enables tighter dose customization and minimizes toxicities. Currently, 42 MRIdian systems are installed globally, treating over 12,500 patients, marking significant progress in advanced radiation therapy.
ViewRay, Inc. (NASDAQ: VRAY) announced its participation in the Jefferies 2021 Virtual Healthcare Conference. The event will take place on June 3, 2021, with a fireside chat featuring Scott Drake (President and CEO) and Zach Stassen (CFO) scheduled for 11:00 a.m. ET. An audio webcast will be accessible on the company’s website, and a replay will be available for 7 days post-presentation. ViewRay specializes in the MRIdian® MR-Guided Radiation Therapy System, designed for advanced radiation oncology.
ViewRay, Inc. (Nasdaq: VRAY) reported financial results for Q1 2021, showing significant growth in orders and improved profitability. The company secured seven new orders for MRIdian systems worth $40.9 million, up from $22.6 million the previous year. Total revenue increased to $15.5 million, with a gross profit of $0.3 million, a notable improvement from a loss of $2.1 million in Q1 2020. Operating expenses decreased to $25 million, and net loss narrowed to $26.7 million. Cash reserves stood at $182 million, while financial guidance was withheld due to the COVID-19 pandemic.
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