Accuray Incorporated ARAY recently announced that clinician-reported data shows improved patient outcomes with its flagship CyberKnife System when compared with patients treated on a conventional linear accelerator.
Notably, this strengthens Accuray’s foothold in the global radiotherapy space.
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The Lancet Oncology, a renowned peer-reviewed oncology journal, published the data on CyberKnife. The data shows that the level of grade two or higher acute genitourinary toxicity is lower in patients treated with the CyberKnife.
Notably, CyberKnife delivered stereotactic body radiation therapy in only five sessions while conventional radiation therapy was delivered in 20 or 39 sessions. This proves its superiority over conventional systems.
Management stated that, with the Accuray Precision Treatment Planning System and CyberKnife VOLO Optimizer, clinicians can significantly reduce treatment time and deliver high-quality treatment plans for patients.
CyberKnife at a Glance
Accuray’s CyberKnife is the only robotic radiosurgery system that offers highly precise, non-surgical treatment for tumors and lesions anywhere in the body. The much-coveted system is also a major driver of the company’s top line.
In the fiscal fourth quarter, CyberKnife grew in double digits, representing 40% of quarterly gross orders and 35% of fiscal 2019 revenues. Management is also optimistic about the recent VOLO upgrade on CyberKnife, which is expected to drive the company’s installed base.
CyberKnife also has strong presence in tier-1 academic and research-based hospitals in China.
Medgadget projects the global radiotherapy market to reach $7 million by 2023 at a CAGR of 7%.
Increased incidences of cancer cases of various categories have been fueling market growth.
We believe that positive developments such as these will boost the Zacks Rank #3 (Hold) stock, which dipped 21% compared with the industry’s 4.7% decline in a year.
A few better-ranked stocks in the broader medical sector are Baxter International BAX, CONMED Corporation CNMD and Masimo Corporation MASI, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Baxter’s long-term earnings are expected to grow 12.8%.
CONMED’s long-term earnings are projected to increase 12.8%.
Masimo’s long-term earnings are estimated to rise 20.5%.
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