Accuray Incorporated (NASDAQ:ARAY) recently announced that its flagship CyberKnife System has been successfully treated the first patient at Erasmus MC — the largest university medical center in the Netherlands. Notably, the device was used to treat oligometastases in the pelvic region, using an online-adaptive (OA) approach.
The trial was conducted at Erasmus MC evaluating OA stereotactic body radiation therapy (SBRT) delivered by the CyberKnife platform. Per management, this trial is effective in controlling cancer in a specific organ and reducing toxin in patients, diagnosed with pelvic or intra-abdominal oligometastases. Radiation therapy for such diseases is quite challenging.
To address this issue, Accuray and Erasmus MC are partnering to develop an integrated, advanced, imaging solution tailored for use with the CyberKnife System.
In this regard, it should be noted that CyberKnife has been a major contributor to revenues for Accuray in the first half of 2018. Moreover, it favorably impacted the company’s gross margin in the second quarter of fiscal 2018.
Hence, the latest move is likely to prove beneficial for the California-based developer of radiotherapy systems.
Cancer Trends in Europe
Per research by the WHO, Europe records more than 3.7 million new cases of cancer, with 1.9 million deaths, every year. Cancer is the second most important cause of death and morbidity in Europe.
Increasing levels of tobacco and alcohol consumption along with obesity are believed to be the major factors.
Price Performance
In the past six months, Accuray’s shares have gained 22.5%, compared with the industry’s rallied of 9.8%.
Zacks Rank & Key Picks
Accuray carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are athenahealth, Inc. (NASDAQ:ATHN) , Bio-Rad Laboratories, Inc. (NYSE:BIO) and Centene Corporation (NYSE:CNC) . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
athenahealth has expected long-term growth rate of 17.7% and earnings per share growth rate of 21.5%.
Bio-Rad has expected long-term growth rate of 20% and earnings per share growth rate of 20%.
Centene has expected long-term growth rate of 14.4% and earnings per share growth rate of 14.4%.
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athenahealth, Inc. (ATHN): Free Stock Analysis Report
Accuray Incorporated (ARAY): Free Stock Analysis Report
Bio-Rad Laboratories, Inc. (BIO): Free Stock Analysis Report
Centene Corporation (CNC): Free Stock Analysis Report
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