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MADISON, Wis. - Accuray Incorporated (NASDAQ:ARAY), a $177 million market cap medical device company trading at $1.57 per share, announced Wednesday that 5D Clinics has treated its first patients in Melbourne using the CyberKnife S7 System, marking an expansion of advanced radiation therapy access in Australia. According to InvestingPro data, the company maintains a GOOD financial health score despite current market challenges.
The Melbourne facility represents the first center managed by the joint venture between 5D Clinics and Icon Group, Australia’s largest private cancer care provider. The partnership aims to establish multiple CyberKnife centers across Australia’s east coast to improve community access to robotic stereotactic radiation treatments. With annual revenue of $458.5 million and modest growth of 2.7% in the last twelve months, Accuray continues to expand its global footprint. Analysts maintain a Strong Buy consensus on the stock, with detailed analysis available through InvestingPro’s comprehensive research reports.
"The introduction of the CyberKnife System to Melbourne means patients no longer need to travel interstate to access this advanced level of care," said Bruno Bosco, General Manager for 5D Clinics Australia.
The CyberKnife S7 System uses artificial intelligence to track and adapt for patient movement during treatment, delivering radiation directly to tumors anywhere in the body. Treatments typically require only 1-5 outpatient sessions, compared to conventional radiation therapy that often involves 30-40 sessions.
Among the first patients treated was David, a 55-year-old with prostate cancer, who chose the treatment to avoid surgery and minimize disruption to his daily life.
The expansion comes as Australia faces projections of nearly 50 percent growth in new cancer cases, from 212,332 in 2022 to 318,285 in 2045, according to data cited in the company’s press release.
Prior to this opening, 5D Clinics in Perth was the only private facility in Australia offering CyberKnife treatments. AlphaXRT serves as the exclusive distributor for Accuray’s technology in Australasia and supported the installation process.
The information in this article is based on a press release statement from Accuray Incorporated. With earnings scheduled for October 29, investors seeking deeper insights into Accuray’s financial metrics, growth potential, and market position can access detailed analysis through InvestingPro’s extensive research reports, which cover over 1,400 US stocks with professional-grade analytics and actionable intelligence.
In other recent news, Accuray Incorporated reported its fiscal fourth-quarter revenue of $127.5 million, a 5% decline from the previous year but surpassing consensus estimates of $123.8 million. The company also posted stable earnings per share (EPS) of $0.01, aligning with expectations. BTIG responded to these results by raising Accuray’s stock price target from $4 to $5, maintaining a Buy rating, citing a strong outlook and fiscal 2026 guidance. Additionally, Accuray launched its new Stellar Solution, a configuration of the Radixact Treatment Delivery System, aimed at enhancing adaptive radiotherapy capabilities. This new technology will be showcased at the upcoming American Society for Radiation Oncology Annual Meeting in San Francisco. Furthermore, Accuray and the University of Wisconsin School of Medicine and Public Health signed a memorandum of understanding to advance cancer treatment through online adaptive radiotherapy. This collaboration emphasizes clinical research, education, and the development of adaptive technology. These developments highlight Accuray’s continued efforts to innovate in the field of cancer treatment.
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