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Isoray, Inc. (NYSE AMERICAN: ISR) announced that its Annual Meeting, originally scheduled for December 13, 2022, is adjourned to January 12, 2023. This delay allows stockholders more time to vote on Proposal 1, which seeks to amend the Certificate of Incorporation to increase authorized shares. Approval is necessary for the proposed merger with Viewpoint Molecular Targeting. Currently, 52,741,902 shares are in favor, with 18,314,481 additional shares needed for approval. The Board and proxy firms recommend voting yes, emphasizing the merger as a transformative opportunity for Isoray.
Isoray, Inc. (NYSE AMERICAN: ISR) announced a 33% decline in revenue for Q1 FY2023, totaling $1.72 million, down from $2.56 million in Q1 FY2022, mainly due to isotope supply chain issues. Prostate brachytherapy revenue dropped 41%, constituting 68% of total revenue. Gross profit fell to $0.41 million, a 60% decrease year-over-year. Operating expenses increased to $4.62 million, with general and administrative costs rising 69% driven by merger-related expenses. The net loss was $4.07 million per share, reflecting a deeper loss than the previous year. Cash reserves remain strong at $54.1 million.
Isoray, Inc. (NYSE AMERICAN: ISR) announces a conference call on November 10, 2022, at 4:30 p.m. ET to discuss its first quarter fiscal 2023 financial results, which ended on September 30, 2022. A press release detailing these results will be issued after the U.S. markets close on the same day. Interested parties can listen by calling (877) 545-0320, with an international line available at (973) 528-0002. The call will also be webcast, available for later viewing until February 10, 2023.
Isoray, Inc. and Viewpoint Molecular Targeting, Inc. are set to hold an investor webcast on
Viewpoint Molecular Targeting has announced a definitive agreement to merge with Isoray (NYSE AMERICAN:ISR). Under this agreement, a newly formed wholly owned subsidiary of Isoray will merge with Viewpoint, resulting in Viewpoint becoming a wholly owned subsidiary of Isoray. Viewpoint shareholders will receive 3.3212 shares of Isoray common stock for each share held, owning 49% of Isoray post-merger. The merger requires approval from both companies' shareholders and involves increasing Isoray’s board of directors.
Isoray, Inc. (NYSE AMERICAN: ISR) announced a definitive agreement to acquire Viewpoint Molecular Targeting, Inc., enhancing its position in precision oncology. Under the merger, Viewpoint shareholders will receive 3.3212 shares of Isoray stock for each of their shares, resulting in them owning 49% of Isoray post-merger. The merger, requiring shareholder and regulatory approval, aims to integrate targeted alpha therapy into Isoray's offerings. Financial results reveal a 7% revenue increase for fiscal 2022, but a 10% gross profit decline and a net loss of $7.3 million, reflecting operational challenges.
Isoray (NYSE AMERICAN: ISR) will host a conference call on September 28, 2022, at 4:30 p.m. ET to discuss its financial results for the fourth quarter and fiscal year ending June 30, 2022. A press release detailing these results will be issued after U.S. market close on the same day. Interested parties can join the call by dialing 888-506-0062 (973-528-0011 for international calls) or via a webcast that will remain available until December 28, 2022. Isoray specializes in Cesium-131 brachytherapy seeds for cancer treatment.
IsoRay, Inc. (NYSE American: ISR) highlighted the efficacy of its Cesium-131 in prostate cancer treatment during recent presentations at the American Brachytherapy Society’s annual conference. The Cesium Advisory Group presented updated recommendations for Cesium-131 monotherapy, noting its higher photon energy and shorter half-life compared to other isotopes. They emphasized achieving homogeneous implants to minimize toxicity. The group, with over 6,000 implants performed, aims to optimize outcomes for prostate cancer patients, showcasing IsoRay's innovative role in brachytherapy.
Isoray (NYSE AMERICAN: ISR), a leader in seed brachytherapy, announced its participation in the American Brachytherapy Society’s annual conference from June 17-19 in Denver, Colorado. The company will host a lunch symposium featuring Dr. Stephen J. Frank from MD Anderson Cancer Center, presenting on MRI-Assisted Radiosurgery (MARS) with Cesium-131. The event aims to enhance precision and reduce toxicity in cancer treatment. Additionally, the Cesium Advisory Group will discuss prostate brachytherapy practices on June 19. Isoray continues to innovate with its Cesium-131 treatment, benefiting patient care.
Isoray, Inc. (NYSE AMERICAN: ISR) reported a 12% year-over-year revenue increase for Q3 FY2022, achieving $2.91 million. Prostate brachytherapy revenue grew 8%, accounting for 75% of total revenue, while non-prostate brachytherapy surged 28%. Gross profit rose 5.8% to $1.44 million, but gross margin decreased to 49.5% due to higher isotope costs and increased operational expenses, which rose 32%. The net loss expanded to $1.35 million compared to $0.75 million last year, with total cash reserves at $58.9 million and no long-term debt.
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