Yahoo Finance Accuray's (ARAY) Precision TPS Gets Approved by China's NMPA
Accuray Incorporated ARAY recently announced that the Chinese National Medical Products Administration (NMPA) approved the registration dossier of the Accuray Precision Treatment Planning System (TPS).
The CNNC-Accuray joint venture Tomo C radiation therapy system and the Accuray Precision TPS are now compatible. These are likely to provide medical teams with a new way to administer highly accurate and precise radiation treatments, as well as expand access to care for more cancer patients in China.
More on Approval Benefits
With the approval of Accuray’s Precision TPS, the company’s joint venture in China can start commercializing its Tomo C System combined with the news system for cancer patients in the country. This is undoubtedly a significant advancement in addressing the unmet need for precision radiation therapy.
The Accuray Precision TPS, a robust, feature-rich system that helps physicians to create excellent radiation therapy treatment plans effectively, is well-known to Accuray’s Chinese customers who use products like CyberKnife, Radixact, and Tomo Therapy Systems. The Precision TPS system will provide fast and accurate dose computation engines for both Accuray platforms, including Monte Carlo dose calculation for the CyberKnife InCise Multileaf Collimator and VOLO Technology for the CyberKnife, Radixact and TomoTherapy Systems.
Accuray’s portfolio is likely to expand in China and will have better access to the local Type B market with the release of the treatment planning solution for the domestically manufactured Tomo C System radiation therapy delivery equipment.
More on ARAY’s Precision TPS and Tomo C Platform
The Accuray Precision TPS was designed to create and adapt precise treatment plans faster. The planning solution increases treatment precision by allowing clinicians to regularly adjust treatment plans during treatment. The clinicians can account for changes in tumor size, shape, and location, as well as minute changes in the placement of organs and other healthy tissue.
The TPS supports plan creation across multiple platforms, like TomoHelical, TomoDirect IMRT, 3D CRT, and CyberKnife, for various treatments, including radiosurgery and SBRT. It is equipped with advanced dose computation engines, including Monte Carlo calculation and VOLO Technology, enhancing planning accuracy and speed.
In October 2023, ARAY announced the approval of the Tomo C radiation therapy system for the Type B market by the Chinese NMPA. The system is designed to enable medical care teams to optimize outcomes for standard radiation therapy for indications like breast, prostate, lung, and head and neck cancers, in addition to complex treatments such as total marrow irradiation. It does this by utilizing patented beam-shaping technology, completely integrated treatment planning, centralized data management, and ultra-precise therapy delivery.
Industry Prospects
Per a report by Predence Research, with a 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 growth of the radiation therapy market.
Price Performance
For the year-to-date period, ARAY’s shares have plunged 34.6% against the industry’s growth of 7.3%. The S&P 500 increased 7.6% in the same time frame.
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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 that have announced quarterly results are DaVita DVA, Ecolab ECL and Boston Scientific Corporation BSX.
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 44% compared with the industry’s 20.4% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Boston Scientific reported first-quarter 2024 adjusted EPS of 56 cents, which beat the Zacks Consensus Estimate by 9.8%. Revenues of $3.86 billion surpassed the Zacks Consensus Estimate by 4.9%. It currently carries a Zacks Rank #2.
Boston Scientific has a long-term estimated growth rate of 12.5%. BSX’s earnings surpassed estimates in the trailing four quarters, the average surprise being 7.5%.
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Boston Scientific Corporation (BSX) : Free Stock Analysis Report
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