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Accuray Incorporated develops, sells, and supports radiation therapy systems used in cancer treatment and neuro-radiosurgery. Company news centers on product and service revenue, installation timing, gross margin factors, and non-GAAP operating measures, as well as updates tied to its CyberKnife and Radixact treatment platforms and the Accuray Stellar configuration.
Recurring developments also include commercial leadership changes, equity inducement awards, and strategic transformation actions involving organizational realignment, cost structure, outsourcing, engineering resources, and sales enablement. Accuray's updates frame the company as a medical technology issuer with capital equipment sales, service revenue, and global commercialization priorities.
Accuray Incorporated (NASDAQ: ARAY) announced that its CyberKnife robotic radiotherapy platform outperforms conventional linear accelerators in reducing late bladder toxicity in prostate cancer treatments, according to the PACE trial data. Presented at the European Society for Radiotherapy and Oncology congress, the study found that patients receiving CyberKnife SBRT experienced half the bladder side effects compared to traditional methods. The trial involved 874 patients, with significant findings indicating that fewer treatment sessions lead to increased patient satisfaction and lower out-of-pocket costs.
Accuray Incorporated (NASDAQ: ARAY) has appointed Mika Nishimura to its Board of Directors, effective August 17, 2021. Ms. Nishimura brings over 25 years of experience in the medical device industry and has held significant roles in product commercialization and strategic growth. Her previous positions include Vice President at nVision Medical Corporation and Auxogyn Incorporated. The addition of Nishimura aims to enhance Accuray's innovation and growth strategy in the radiation therapy sector, especially as the company seeks to expand its impact in oncology.
Accuray Incorporated (NASDAQ: ARAY) reported Q4 fiscal 2021 results with gross orders of $112.7 million, a 19% increase year-over-year. Net revenue reached $110.9 million, up 17%. Despite these gains, the company faced a net loss of $11.1 million due to a $9.9 million one-time refinancing charge. For the fiscal year, total revenue was $396.3 million, a 3.5% increase, with an ending backlog of $616.4 million. Looking ahead, Accuray forecasts fiscal year 2022 revenue between $410 million and $420 million.
Accuray (NASDAQ: ARAY) announced the first cancer treatment in Asia utilizing the Radixact® System with ClearRT™ imaging at Hong Kong Sanatorium & Hospital (HKSH). This advanced technology enhances imaging quality, enabling precise targeting of tumors while minimizing damage to healthy tissue. The initial case involved a 35-year-old patient with tongue cancer. ClearRT significantly reduced imaging and registration times by 77%, allowing for improved patient throughput and treatment accuracy. Accuray continues to emphasize innovation in cancer treatment solutions to enhance patient care.
Accuray Incorporated (NASDAQ: ARAY) announced it will report its financial results for Q4 and FY 2021, which ended on June 30, 2021, on August 11, 2021. The results will be shared after market close, with a conference call scheduled at 1:30 p.m. PT / 4:30 p.m. ET on the same day. Investors can access the call via dial-in numbers or through a live webcast available on the company's Investor Relations website. The replay of the call will be available for one week post-event.
Accuray announced the successful treatment of Mac, a Fox Terrier Mix, using the Radixact® System with Synchrony® technology for lung cancer. This treatment allowed for real-time tumor tracking during radiation therapy, ensuring minimal damage to healthy tissue. The procedure required only three hospital visits, emphasizing the efficiency and effectiveness of the new system. The clinical team at the University of Wisconsin-Madison, which has extensive experience with the TomoTherapy® platform, highlighted the potential for this system to expand treatment options for various cancers in pets.
Accuray (NASDAQ: ARAY) has announced the promotion of Suzanne Winter to president, effective July 1, 2021. With over 25 years in medical technology, Winter previously served as chief commercial officer. In her new role, she will oversee commercial operations, R&D, global manufacturing, service, and quality organizations. CEO Joshua Levine expressed confidence in Winter's leadership to drive revenue growth and manage day-to-day operations, allowing him to focus on strategic collaborations. Winter emphasized her commitment to innovation and improving patient outcomes.
Accuray Incorporated (NASDAQ: ARAY) launched RayStation treatment planning support for its CyberKnife M6 and S7 robotic systems, enhancing integration within radiation oncology departments. This system simplifies workflows, allowing clinicians to create treatment plans using various radiotherapy devices in one platform. Key features include advanced motion tracking, real-time dose adjustment, and a wide range of treatment angles. The update aims to improve operational efficiency and patient outcomes, solidifying Accuray's position in radiation oncology.
Accuray Incorporated (NASDAQ: ARAY) announced CE Mark certification for its ClearRT™ helical fan-beam kVCT imaging technology, enhancing the Radixact® System. This approval allows distribution in the EU, US, Japan, and other regions. ClearRT offers integrated imaging for precise radiation therapy, improving the treatment of tumors. It promises benefits like increased patient throughput and high-fidelity imaging. The technology is expected to support the growing demand for stereotactic body radiation therapy (SBRT), which requires advanced accuracy in treatment delivery.
Accuray Incorporated (NASDAQ: ARAY) announced a new five-year $80 million term loan and $40 million revolving credit facility with Silicon Valley Bank. The New Credit Facility aims to refinance existing debts and will provide working capital and operational flexibility. Borrowings will have a floating interest rate between 2.50% and 3.25%, significantly lower than previous margins. This move enhances their capital structure and reduces borrowing costs, allowing for better liquidity to support business growth.