HomeEquities ScoreWhy did Accuray Incorporated (ARAY) stock plunge on Monday?

Why did Accuray Incorporated (ARAY) stock plunge on Monday?

Accuray Incorporated (ARAY) shares declined 5.71% in after-hours on Monday, October 05, 2021, and closed the daily trading at $3.80. Even in the regular trading session, ARAY’s stock lost 0.74%. ARAY shares have risen 58.04% over the last 12 months, and they have moved up 0.75% in the past week. Over the past three months, the stock has lost 8.41%, while over the past six months, it has reduced by 20.67%.

Let’s have a look at its recent news and developments.


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ARAY recent agreement

On October 4, 2021, Accuray Incorporated (ARAY) and C-RAD AB signed an agreement designed to enhance the Accuray Radixact® System’s ability to treat breast cancer. The companies will provide customers with a solution for deep inspiration breath-hold (DIBH)* using the C-RAD Catalyst+ HD and Radixact System. DIBH is a technique frequently used for breast cancer treatments.

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ARAY Radixact System demand

On  September 29, 2021, Accuray Incorporated (ARAY) announced that Unicancer has selected three Radixact® Systems with the ClearRT™ helical fan-beam kVCT imaging and Synchrony® real-time delivery adaptation technologies to further their goal of providing truly personalized care to every cancer patient. The Radixact System will enable them to treat almost any tumor that would benefit from radiotherapy, including those that move, with even greater efficiency, precision, and accuracy.

First commercial use of ARAY Accuray Radixact® System

On September 23, 2021, Nagoya City University Hospital in Aichi announced that it has treated the first cancer patient in Japan using the ARAY Radixact® System with ClearRT™ helical fan-beam kVCT imaging.

ARAY CyberKnife for prostate cancer treatment

On September 14, 2021, ARAY recently announced that its CyberKnife robotic radiotherapy platform has been indicated to be superior to conventional linear accelerators by the latest data from the Prostate Advances in Comparative Evidence trial. The company presented the two-year follow-up data at the European Society for Radiotherapy and Oncology annual congress and showed that bladder side effects were experienced half as often with CyberKnife SBRT as with conventional linear accelerator delivered SBRT.

ARAY new board member

On August 23, 2021, Accuray Incorporated (ARAY) appointed Mika Nishimura to the company’s Board of Directors, effective. The Accuray Board now consist of nine members. Ms. Nishimura also currently serves as an Independent Director on the Boards of SI-BONE, Inc., and MobileODT, and as a Board advisor to Tristel, plc. Mika Nishimura has more than 25 years of global medical device industry experience and deep product commercialization experience across a broad range of innovative medical technologies.

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Conclusion

Well, we have no negative news or development which could be linked with its Monday loss. In fact, we have positive news and we expect that ARAY price can go up in the coming trading sessions.

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