Accuray announced today that the first patient treatment has been completed using the CyberKnife® M6TM System with the InCiseTM Multileaf Collimator (MLC). The treatment was administered as a multidisciplinary effort between Dr. Steven Burton from the Department of Radiation Oncology and Dr. Johnathan Engh from the Department of Neurosurgery at UPMC in Pittsburgh, Pennsylvania. UPMC was one of the InCise MLC evaluation sites working in collaboration with Accuray.
"We have successfully treated the first patient using the CyberKnife M6 System with the InCise MLC. The patient, diagnosed with a brain meningioma, was a typical candidate for highly-focused treatment that can be delivered by the CyberKnife," said Dr. Dwight E. Heron MD, FACRO, FACR, Director of Radiation Services. "With the addition of the MLC, we were able to achieve equivalent precision in tumor targeting and sparing of healthy tissue, but it took us less than half the time - just under 22 minutes - to complete a traditional one hour treatment. The treatment time includes continuous imaging throughout the procedure to ensure accurate dose delivery and the actual time spent delivering the radiation. This real-world case is consistent with our InCise MLC technical evaluation experience and exceeded our expectations in its efficiency."
The M6 Series delivers radiosurgery and stereotactic body radiation therapy, enabling precise, high-quality dose distributions to be confidently administered to the patient with extreme accuracy over a minimum number of treatments, reducing side effects and preserving patients' quality of life. The system is able to adjust and automatically stay on target in real-time, accounting for patient and tumor motion. CyberKnife is the only robotic radiosurgery system available today which delivers such high precision treatments for intra- and extra-cranial disease sites throughout the body.
"We congratulate Dr. Heron, Dr. Huq and their team on treating the first patient using t
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Sentiment: Strong Sell
yeah they want you to stay in while they short...this puppy is headed south hitting resistance now..do yourself a favor short this company and it will be good for 10 points
Morgan Stanley Goes Over Accuray's Pros And Cons
By Javier Hasse 1 hour ago
In a report rolled out Wednesday, Morgan Stanley reiterated an Equal-weight rating on Accuray Incorporated ARAY and raised its price target to $11. According to analyst Steve Beuchaw, the company “remains comfortable with the orders outlook and the multiple remains depressed.” Therefore, he continues to see upside potential for the company going into fiscal 2016.
While the firm maintains “a positive fundamental bias for ARAY shares over the medium term,” its analysts believe “upside to order forecasts and EPS estimates is required to drive upside.”
According to the report, Accuray and TomoTherapy “occupy important and expanding niches as specialty radiation therapy systems.” Moreover, Tomo and CyberKnife are currently the most advanced systems “available for tumor motion tracking and advanced radiation dose distribution.”
In addition, the firm points out a few potential catalysts. Namely, a successful CyberKnife MLC launch, some system upgrades and potential competitive launches, including ASTRO in the second half of 2015.
Morgan Stanley analysts see austerity and reimbursement as two major challenges for the oncology market. Moreover, “efforts by CMS and private payors to control costs” could have a detrimental effect on the stock price.
Latest Ratings for ARAY
Date Firm Action From To
Jan 2015 Northland Securities Initiates Coverage on Outperform
Jun 2014 JP Morgan Upgrades Neutral Overweight
Mar 2014 BTIG Research Initiates Coverage on Buy
View More Analyst Ratings for ARAY
Second Quarter Highlights
Generates improved order volume with gross orders of $72.3 million
Increases total revenue by 5% to $98.2 million from year ago period
Expands service gross profit margins sequentially to 36% from 31%
Achieves adjusted EBITDA of $3.7 million
"Our fiscal second quarter results illustrate the progress our team is making in executing our plan. The company's gross system order volume increased as expected and supports our belief that we will see gross orders in the second half of the fiscal year grow at a rate faster than the overall market," said Joshua H. Levine, president and chief executive officer of Accuray. "Additionally, the trends in the business enable us to reaffirm our full fiscal year financial guidance despite foreign currency headwinds that have materially reduced our overall year-to-date revenue results. The Accuray team remains focused on generating profitable revenue growth, expanding gross profit margins and ultimately driving sustained cash flow and profitability for all of our stakeholders."