Yahoo Finance Accuray's (ARAY) CyberKnife Improves Prostate Cancer Treatment
Accuray Incorporated ARAY recently announced that new data presented at the 2024 Radiosurgery Society (RSS) Meeting in Chicago supports the use of the CyberKnife System in the treatment of high-risk and recurrent prostate cancer.
The studies build on years of published clinical follow-up with many patients with prostate cancer at different stages of the disease and with individuals who had radiation therapy earlier, demonstrating the adaptability and usefulness of the approach for healthcare teams.
Price Performance
For the past six months, ARAY’s shares have plunged 13.2% against the industry’s rise of 16.7%. The S&P 500 increased 20.5% in the same time frame.
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The CyberKnife System enables treatment of prostate cancer with stereotactic body radiation therapy (SBRT), a type of radiation therapy that delivers highly concentrated, precisely timed radiation doses over a shorter period than with conventional treatments. Because of the system's accuracy, physicians can safely use SBRT to treat the prostate gland, which is located close to the delicate bladder and rectum.
The data presented at the RSS meeting demonstrated CyberKnife’s capacity to manage high-risk illnesses while maintaining life quality effectively. In the study, it was observed that favorable biochemical control was achieved at the three-year follow-up mark and patients had largely recovered to near baseline urinary and bowel function.
During treatment, the prostate gland can move inexplicably. For this reason, it is vital to be able to track, detect, and correct for motion during the procedure. The CyberKnife System can track the tumor and continuously verify its position by using advanced imaging and real-time artificial intelligence-driven tracking and synchronization. The CyberKnife, along with Accuray's proprietary Synchrony technology, detects movement in the prostate during treatment and instantly synchronizes the treatment delivery beam to the tumor's new location in real-time.
These results highlight SBRT's promise as a practical therapeutic option for high-risk prostate cancer that can maintain patient quality of life while providing encouraging outcomes.
Accuray’s CyberKnife System has strong potential as the company continues to leverage its potential in its precision Treatment Planning System and radiosurgery market.
Industry Prospects
Per a report by Predence Research, with growth rate of 8%, the global radiation therapy market, which was valued at $7.3 billion in 2022, is expected to reach more than $14.9 billion by 2032.
With improved efficiency and efficacy and higher market demands from a growing customer base, developed technologies in radiation therapy contribute to the growth of the radiation therapy market.
Notable Developments
In December 2023, Accuray announced the launch of its VitalHold package in Japan. This package supports surface-guided radiation therapy on the Radixact System, thus advancing breast cancer treatment.
In October 2023, the company announced the approval of the CNNC-Accuray joint venture Tomo C radiation therapy system from the Chinese National Medical Products Administration. The system will be used to treat cancer patients who require radiotherapy at least once to cure their disease, increase the chances of cure or relieve symptoms caused by the same.
Accuray Incorporated Price
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Zacks Rank & Stocks to Consider
ARAY carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Cardinal Health, Inc. CAH and Cencora, Inc. COR.
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 51.9% compared with the industry’s 3.2% rise in the past year.
Cencora, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have surged 51.5% compared with the industry’s 3.6% rise in the past year.
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