Accuray Incorp Stock Price, News & Analysis

Accuray Incorporated (NASDAQ: ARAY) has received 510(k) clearance from the FDA for its ClearRT™ Helical kVCT Imaging. Integrated with the Radixact® System, this advanced imaging solution enhances diagnostic quality, enabling faster patient setup and improved treatment accuracy. Scheduled for commercial release in Spring 2021, ClearRT offers superior image quality and versatility, providing essential support for radiation therapy. Accuray aims to meet the diverse needs of patients while maintaining a high standard of care with this innovative technology.

Accuray Incorporated (NASDAQ: ARAY) announced inducement awards for new Senior Vice President, Quality & Regulatory Affairs, Jim Dennison. Effective November 30, Dennison will receive 56,053 restricted stock units and a stock option for 105,485 shares at an exercise price of $4.46. The awards are not part of the current equity plan but follow guidelines similar to those in the 2016 Equity Incentive Plan. Restricted stock units will vest annually, while the stock option will vest 25% after one year and monthly thereafter, contingent on Dennison's ongoing service.

Accuray Incorporated (NASDAQ: ARAY) and DHL Supply Chain have formed a global service parts logistics partnership aimed at enhancing Accuray's supply chain and customer service capabilities. This collaboration, effective February 2021, will create a dedicated logistics network across 34 warehousing sites in 16 countries, ensuring medical teams have reliable access to critical radiotherapy technologies. DHL's Control Centers in Columbus, Budapest, and Singapore will provide 24/7 operational support, while advanced software tools will enhance inventory management.

Accuray has appointed Jim Dennison as senior vice president of global quality and regulatory affairs, effective immediately. Dennison, with nearly 15 years at GE Healthcare, will oversee quality, regulatory, and government affairs, reporting to Joshua H. Levine, CEO. His previous experience includes managing global design and manufacturing sites, standardizing quality systems, and improving FDA submission processes. Accuray expresses confidence in Dennison's ability to advance quality and regulatory functions to support R&D investments and market expansion.

Accuray Incorporated (NASDAQ: ARAY) showcased its latest innovations in radiation therapy at the ASTRO Annual Meeting on Nov 10, 2020. The company emphasized the enhanced capabilities of its CyberKnife and TomoTherapy platforms, particularly the Radixact System, designed for hypofractionated treatments. Notable advancements include the Synchrony Motion Synchronization technology, enabling real-time adaptive therapy, and the CyberKnife S7 System, ensuring precision in delivering treatments. The introduction of ClearRT Helical kVCT Imaging further enhances patient care through improved imaging capabilities.

Accuray Incorporated (NASDAQ: ARAY) reported its Q1 fiscal 2021 results, ending September 30, 2020, with net revenue of $85.3 million and operating income of $5.5 million. Adjusted EBITDA increased to $9 million from a loss of $1 million year-over-year. Gross orders were $50.5 million, and the backlog rose to $597.3 million, marking a 21% increase compared to the previous year. Notably, revenue from products decreased from $37.6 million to $31.3 million, while service revenue grew slightly to $54.1 million. The company refrained from providing fiscal 2021 guidance due to COVID-19 uncertainty.

Accuray Incorporated (NASDAQ: ARAY) announced a collaboration with Brainlab to enhance the CyberKnife treatment platform for neuro-radiosurgery. This partnership will integrate Brainlab's Elements planning software, improving contouring capabilities for neurosurgeons. Additionally, interoperability with Brainlab's Snke OS will streamline patient data management and optimize treatment workflows. The CyberKnife S7 System utilizes advanced robotic technology for precise radiation therapy targeting tumors while preserving healthy tissue. The collaboration aims to elevate the standard of care in neurosurgery.

Accuray Incorporated (NASDAQ: ARAY) has appointed Mike Leischer as vice president and general manager of the Americas region, effective immediately. Leischer brings over 23 years of experience in sales and strategy from companies like Canon Medical Systems USA and GE Healthcare. His role will involve leading commercial teams and driving business strategy to meet the company's objectives. Leadership expressed confidence in his ability to enhance market share and build strategic partnerships, stating this is a pivotal time for Accuray due to its product portfolio.

Accuray Incorporated (NASDAQ: ARAY) will report its financial results for the first quarter of fiscal year 2021, ending September 30, 2020. The announcement will be made after the market closes on October 29, 2020. Management will conduct a conference call at 1:30 p.m. PT on the same day to discuss the results. Dial-in details are provided for both domestic and international participants. A live webcast will also be available on the company’s Investor Relations website, with a replay accessible until the next quarterly results are announced.