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Accuray Incorporated (NASDAQ: ARAY) pioneers precision radiation therapy systems that redefine cancer treatment standards. This dedicated news hub provides investors and healthcare professionals with timely updates on corporate developments, clinical advancements, and strategic initiatives shaping the future of radiation oncology.
Track all essential updates in one place, including earnings announcements, regulatory milestones, and technological breakthroughs related to flagship platforms like CyberKnife and Radixact. Our curated feed simplifies monitoring of partnership agreements, research collaborations, and market expansion efforts critical to understanding Accuray's position in medical technology.
Discover comprehensive coverage of operational updates, leadership changes, and product enhancements that impact clinical workflows and patient outcomes. The resource is designed to help stakeholders assess Accuray's progress in developing adaptive radiotherapy solutions with real-time tumor tracking capabilities.
Bookmark this page for streamlined access to verified information about ARAY, including innovation roadmaps and quality control certifications. Check regularly for objective reporting on developments influencing radiation oncology practices worldwide.
Accuray reported its third-quarter fiscal 2022 results, showing gross orders of $88.6 million, a 1% increase year-over-year. However, net revenue fell 6% to $96.2 million. The company incurred a GAAP net loss of $1.0 million, worsening from a loss of $0.4 million the prior year. Adjusted EBITDA dropped to $5.4 million from $8.7 million. While product revenue increased by 30% over nine months, service revenue saw a 1% decline. Operational challenges persist due to supply chain issues attributed to COVID-19.
Accuray announced Suzanne Winter as its new CEO, effective July 1, 2022, succeeding Joshua Levine who will retire from the Board on June 30, 2022. Winter, who joined Accuray in 2019 and has led significant operational strategies, aims to enhance patient care and innovation in radiation therapy. Ali Pervaiz has been appointed as CFO, effective May 9, 2022, bringing extensive financial leadership experience from GE Healthcare. The leadership transition aims to build on the company's recent growth and strengthen shareholder value.
In April 2022, Al Gold, owner of Arkansas Derby winner Cyberknife, shared his journey with prostate cancer and praised the Accuray CyberKnife System for its non-invasive treatment. His successful treatment enabled him to enjoy family activities and celebrate his horse's victory. Gold's positive experience highlights CyberKnife's precision in targeting tumors while minimizing damage to surrounding tissues, a key advantage for prostate cancer patients. Accuray emphasizes the technology's effectiveness, supported by clinical evidence, as it continues to innovate in radiation therapy.
Accuray Incorporated (NASDAQ: ARAY) will release its financial results for the third quarter of fiscal year 2022, covering the period ending March 31, 2022, on April 27, 2022. A conference call to discuss these results will take place at 1:30 PM PT / 4:30 PM ET on the same day. Interested parties can join via dial-in numbers or listen to a live webcast through the company's Investor Relations website. The replay will be available shortly after the call for one week.
Accuray (NASDAQ: ARAY) announced that a study on its CyberKnife System, treating trigeminal neuralgia (TN) patients, showed a 72% pain relief rate after 10 years. The study was recognized as the Best Clinical Abstract at the 2022 Radiosurgical Society Meeting. TN, a severe chronic pain condition, affects many individuals, especially those over 50. The CyberKnife offers a non-invasive treatment option, proving effective over long-term follow-ups, which enhances its market position in radiation therapy for complex medical conditions.
Accuray Incorporated (NASDAQ: ARAY) has partnered with CARTI in Arkansas, marking the launch of the CyberKnife S7 System, which provides advanced radiation therapy. This innovative technology allows treatment in just 1 to 5 sessions, compared to the 30-40 sessions typical of conventional methods. The CyberKnife platform enhances the accessibility of precise radiation treatments, especially for patients in rural areas who faced travel barriers. This initiative aims to improve cancer care across Arkansas, positioning CARTI as the sole provider of the CyberKnife System in the state.
Accuray Incorporated (NASDAQ: ARAY) has received endorsement from the National Institute for Health and Care Excellence (NICE) for its CyberKnife® Treatment Delivery System for treating trigeminal neuralgia (TN) in the UK. This endorsement enhances access to a precision radiosurgery alternative for managing TN, which causes severe facial pain. The CyberKnife system achieves pain control in nearly 95% of TN patients within 2-4 weeks and offers a minimally invasive outpatient procedure. However, availability may vary based on health insurance and licensing processes.
Accuray Incorporated (NASDAQ: ARAY) announced its participation in the Cowen 42nd Annual Health Care Conference set for March 7-9, 2022. The company's management will hold a virtual Fireside Chat on March 7 at 9:50 AM PST / 12:50 PM EST. Interested parties can access the live webcast on the Accuray investor website, with a replay available afterward. Accuray is dedicated to advancing radiation therapy solutions for complex oncology and neuro-radiosurgery cases.
Accuray announced that Royal Brisbane and Women's Hospital in Queensland, Australia, has selected two Radixact Systems equipped with ClearRT imaging and Synchrony technology to enhance radiotherapy services. This upgrade will replace older TomoTherapy Systems, allowing for improved precision and efficiency in radiation treatment. RBWH, a leading cancer care facility, aims to increase patient throughput and deliver personalized treatments. The partnership highlights Accuray's commitment to innovation in cancer care.
Accuray Incorporated (NASDAQ: ARAY) announced significant results from its Phase III TomoBreast trial, showing that hypofractionated radiotherapy via the TomoTherapy System preserves long-term heart and lung function in early breast cancer patients. The study revealed a 10-year survival rate free of heart and lung deterioration at 84.5% compared to 66.9% with conventional therapy. The trial involved 123 women and was published in BMC Cancer. The findings suggest that TomoTherapy may reduce side effects and enhance patient recovery times.
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