Leading radiosurgery systems maker Accuray Incorporated (ARAY) recently revealed that it inked a collaboration and research agreement with Erasmus Medical Center (MC), the largest university medical center in the Netherlands. As per the agreement, the two parties will collaborate on research in the field of radiation oncology with the purpose of giving healthcare practitioners the latest tools for patient care.
The two sides already have an extended history of collaboration. Erasmus MC’s clinical expertise with Accuray’s CyberKnife System enables it to appreciate the benefits derived by cancer patients from radiosurgery. It looks forward to continued joint endeavor to validate radiosurgery as a science and confirm the clinical usefulness of the CyberKnife System.
Erasmus MC installed its first CyberKnife Robotic Radiosurgery System in 2004, making it the fourth installation, in Europe, India, Mid East and Africa, during that period. Till date, Erasmus MC has provided therapy to over 1,000 patients with the CyberKnife System besides carrying out significant clinical research. It has also implemented innovative research techniques to study the performance of the CyberKnife System.
During the last quarter, Accuray revealed two more collaboration and research agreements with the University of Heidelberg and the German Cancer Research Center (Deutsches Krebsforschungszentrum, DKFZ), both in Heidelberg, Germany.
Accuray is a renowned radiation oncology company with a history of rapid innovation and cutting-edge technologies. CyberKnife and the TomoTherapy Systems comprise two of its flagship products. CyberKnife is a full body radiosurgery device used to treat cancerous tumors and TomoTherapy Systems are fully integrated and advanced radiation therapy systems for all types of cancer treatments.
The company installed 22 new CyberKnife and TomoTherapy systems during the most recent quarter, taking the aggregate global installed base to 635 units. The company added $64.2 million of new system orders in the quarter, leading to a total system backlog of $279.6 million.
However, Accuray remains susceptible to reimbursement uncertainties and faces stiff challenges from competitive product offerings of Varian Medical Systems (VAR). We currently have a Neutral recommendation on Accuray. The stock currently retains a short-term Zacks #3 Rank (Hold).
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