Accuray rises on China approval for its radiation therapy system

Accuray

12/06/2024 15:32

** Shares of medtech co Accuray Inc  ARAY.O  rise 7.3% to
$1.91 
    ** Co says its radiation treatment planning system called
Accuray Precision has been approved by China's National Medical
Products Administration
    ** The system helps create precise treatment plans for
cancer patients as it can detect changes in tumor size, shape
and location- ARAY
    ** Co says the system is now available to use in combination
with its Tomo C radiation therapy device for cancer patients in
China
    ** "With this approval our China joint venture can begin
shipping the Tomo C system to their end customers," says CEO
Suzanne Winter
    ** The regulatory approval will "enable ARAY to recognize
the full margin and profit benefits of selling the system" -
BTIG analyst Marie Thibault  
    ** Including session moves, stock down 32.2% YTD 

 (Reporting by Sneha S K in Bengaluru)
 ((Sneha.SK@thomsonreuters.com;))