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Accuray Incorporated : Full Breadth and Depth of Accuray’s Advanced, Personalized Radiation Treatment Capabilities Showcased at ESTRO 31

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05/16/2012 | 11:57pm CEST
Full Breadth and Depth of Accuray's Advanced, Personalized Radiation Treatment Capabilities Showcased at ESTRO 31

Conference Presentations Highlighted Benefits of the CyberKnife® System's Motion Management and the TomoTherapy® System's Daily Image-Guidance

SUNNYVALE, Calif., May 16, 2012 - Accuray Incorporated (Nasdaq: ARAY), the premier radiation oncology company, announced today that for the first time in Europe, at ESTRO 31, the Annual Congress of the European Society for Therapeutic Radiology and Oncology in Barcelona, Spain, the company showcased side-by-side the CyberKnife® Robotic Radiosurgery System and the TomoTherapy® System with a record 3,000 booth attendees.  Additionally, during ESTRO Accuray announced and displayed the availability of the VoLO™ Planning Solution for the TomoTherapy System, a combination of a new dose calculation algorithm (NVBB - Non-Voxel Broad Beam) and a specifically designed computing hardware based on Graphics Processor Unit (GPU) technology. The VoLO Planning Solution provides intuitive, interactive plan generation, reducing significantly treatment planning time while further enhancing treatment quality.

On Friday, May 11 Accuray hosted a symposium chaired by Prof, Eric Lartigau, M.D., Ph.D., Oscar Lambret Cancer Center, Lille, France. Euan S. Thomson, Ph.D., president and CEO of Accuray presented the "Vision of Accuray" and discussed Accuray's continued commitment to clinical and technical research and development. Clinical data was presented by Dr. Noelle van der Voort van Zyp, Erasmus MC - Daniel den Hoed Cancer Centre in Rotterdam, Netherlands that demonstrated the benefits of CyberKnife SBRT (Stereotactic Body Radiation Therapy) in the treatment of peripheral and centrally located non-small cell lung cancer, including excellent local tumor control and low toxicity. Prof. Vincent Gregoire, M.D., Ph.D., FRCR, UCL-Saint Luc University Hospital, Brussels, Belgium, a TomoTherapy site, discussed the potential need for adaptive treatment of head and neck cancer, illustrating how daily image guidance  could identify modification in dose delivery compared to the planned dose distribution, and could trigger plan adaptation based on  changing characteristics of tumor and organs at risk. Finally, Dr. Nicholas van As, Royal Marsden, London, United Kingdom gave an overview of the newly launched PACE study, a multicenter randomized comparative clinical study of CyberKnife prostate SBRT, surgery and conventionally fractionated radiotherapy. With more than 300 people in attendance, the symposium proved to be a successful meeting and a chance for leaders in the field to share and present important clinical outcomes.

"The combination of quality presentations on treatment outcomes from both the CyberKnife and TomoTherapy Systems and the consistent interest in Accuray's new product offerings reinforces our place as an innovative leader in the radiation oncology industry," said Euan S. Thomson, Ph.D., president and chief executive officer of Accuray. "Accuray has solidified its presence in advancing the standards for SBRT and IG-IMRT treatment and continues to make strides toward helping patients live longer, better lives."

Continuing the expansion of clinical evidence for both the CyberKnife and TomoTherapy Systems, more than 110 presentations on experience with both technologies were presented as part of ESTRO's scientific program. In particular, Dr. Mischa Hoogeman, Erasmus MC-Daniel den Hoed Cancer Center, Rotterdam, The Netherlands presented seven years of clinical experience in real-time lung tumor tracking using the CyberKnife System's unique motion management capabilities including the Synchrony® Respiratory Tracking System, which enables real-time tracking and correction for tumors that move with respiration. Dr. Hoogeman also reported outstanding technical and clinical accuracy during treatment with the CyberKnife System thus allowing for reduced margins and the ability to account for uncertainty in target position. To date Erasmus has treated more than 700 tumors in the lung with the CyberKnife System.  Additionally, several abstracts focused on the systematic use of the TomoTherapy System's daily megavoltage computed tomography (MVCT) to ensure accurate patient set-up and to permit accurate calculation of delivered dose and sophisticated treatment plan adaptation. Dr. Nadia Di Muzio, Istituto Scientifico H.S. Raffaele, Milano, Italy presented the general rationale for adaptive radiotherapy including the group's work on adapting margins during IMRT for pre-op rectal cancer treatment.

Both the TomoTherapy and CyberKnife Systems allow for the treatment of a broad range of applications throughout the body, as demonstrated by reports of excellent clinical outcomes for a variety of indications. These outcomes prove that both technologies allow clinicians the opportunity to offer patients accurate and high quality individualized treatments that best suit their individual needs.

About Accuray
Accuray Incorporated (Nasdaq: ARAY), based in Sunnyvale, Calif., is the premier radiation oncology company that develops, manufactures and sells personalized innovative treatment solutions that set the standard of care, with the aim of helping patients live longer, better lives. The Company's leading edge technologies - the CyberKnife and TomoTherapy Systems - are designed to deliver radiosurgery, stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy, and adaptive radiation therapy. To date, 635 systems have been installed in leading hospitals around the world. For more information, please visit www.accuray.com.

Safe Harbor Statement
Statements made in this press release that are not statements of historical fact are forward-looking statements and are subject to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release relate, but are not limited, to the anticipated benefits of the VoLO technology, the Company's ability to continue to enhance the performance of its products, clinical efficiency and effectiveness the products, and the Company's leadership position in radiation oncology innovation. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations, including risks detailed from time to time under the heading "Risk Factors" in the Company's reports Form 10-Q for the first, second and third quarters of fiscal 2012. Forward-looking statements speak only as of the date the statements are made and are based on information available to the Company at the time those statements are made and/or management's good faith belief as of that time with respect to future events. The Company assumes no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. Accordingly, investors should not place undue reliance on any forward-looking statements.

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Financials ($)
Sales 2017 394 M
EBIT 2017 0,60 M
Net income 2017 -18,9 M
Debt 2017 140 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 1,31x
EV / Sales 2018 1,27x
Capitalization 377 M
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Mean consensus HOLD
Number of Analysts 7
Average target price 6,33 $
Spread / Average Target 39%
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Joshua H. Levine President, Chief Executive Officer & Director
Louis J. Lavigne Chairman
Kelly J. Londy Chief Operating Officer & Executive Vice President
Kevin Waters Chief Financial Officer & Senior Vice President
Robert W. Hill Senior Vice President-Research & Development
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