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Accuray to cut workforce by 5%

November 16, 2011 by MassDevice staff

Accuray Inc. cuts 29 positions and plans to cut 22 more in order to reduce costs following its merger with TomoTherapy.

Accuray

Accuray (NSDQ:ARAY) laid off 29 workers and plans to cut another 22 over the next three quarters, reducing its workforce by 5 percent.

The cancer treatment device maker aims to reduce costs following its $277 million acquisition of TomoTherapy Inc. (NSDQ:TOMO).

Accuray dives despite beating The Street as losses gape | Earnings Roundup

November 9, 2011 by MassDevice staff

Accuray Inc.'s first-quarter results beat Wall Street's expectations, but investors still send its share price down 5 percent as the radiosurgery company's quarterly losses gape by more than 470 percent; also, results for CAS Medical Systems, Echo Therapeutics, CardioNet, Electromed, IntriCon, Bioject, Kips Bay Medical, Tornier, BioMimetic Therapeutics, Pro-Dex and Misonix.

Accuray

Accuray (NSDQ:ARAY) shares are down today after the radiosurgery company reported surging first-quarter sales and beat Wall Street's earnings expectations, as investors reacted to net losses of nearly six times the Q1 2011 mark.

Accuray reported losses of $26.5 million, or 38 cents per share, on sales of $100.5 million for the three months ended Sept. 30. That's top-line growth of 163.9 percent compared with the same period last year, largely due to the massive infusion that followed ARAY's acquisition of rival TomoTherapy earlier this year.

Accuray dives despite beating The Street as losses gape

November 9, 2011 by MassDevice staff

Accuray Inc.'s first-quarter results beat Wall Street's expectations, but investors still send its share price down 5 percent as the radiosurgery company's quarterly losses gape by more than 470 percent.

Accuray

Accuray (NSDQ:ARAY) shares are down today after the radiosurgery company reported surging first-quarter sales and beat Wall Street's earnings expectations, as investors reacted to net losses of nearly six times the Q1 2011 mark.

Accuray reported losses of $26.5 million, or 38 cents per share, on sales of $100.5 million for the three months ended Sept. 30. That's top-line growth of 163.9 percent compared with the same period last year, largely due to the massive infusion that followed ARAY's acquisition of rival TomoTherapy earlier this year.

FDA clears St. Jude's first-to-market hybrid FFR/OCT blood vessel imaging system | Regulatory Roundup

October 26, 2011 by MassDevice staff

St. Jude's hybrid FFR/OCT blood vessel imaging system gets the green light from the FDA.

St. Jude

St. Jude Medical Inc. (NYSE:STJ) got the FDA's green light for the U.S. market's first combined FFR/OCT blood vessel imaging system for diagnosis and treatment of coronary artery disease.

The Ilumien system combines St. Jude's PressureWire Aeris wireless fractional flow reserve imaging technology, which allows physicians to visualize blood vessel characteristics, and its Extreme Resolution optical coherence tomography, which helps evaluate the severity of blood flow blockages in coronary arteries.

Ballantyne takes CFO post at Avedro | Personnel Moves

September 28, 2011 by MassDevice staff

Avedro Inc. appoints med tech veteran C. Evan Ballantyne as its chief financial officer.

Avedro

Waltham, Mass.-based medical device and pharmaceutical company Avedro appointed industry veteran C. Evan Ballantyne as its new chief financial officer.

Prior to the appointment, Ballantyne was the VP & CFO of biopharmaceutical company Clinical Data Inc., chief financial officer of Beverly, Mass.-based ZymeQuest, and vice president at chief operating officer at the ACNielsen Corporation.

Accuray slips into the red in Q4, FY2011 | Earnings Roundup

September 21, 2011 by MassDevice staff

Accuray Inc. put red ink into its ledger book for the fourth quarter and full fiscal 2011, as it paid down its $300 million acquisition of rival TomoTherapy; also, Analogic posts double-digit sales and profit gains; Solos Endoscopy reports sales increase; Pro-Dex swings to black ink; Revolutions Medical posts big losses; Visual Healthcare rides the ACA to profitability.

Accuray

Accuray Inc. (NSDQ:ARAY) may be the fish that swallowed the whale, but it might have bitten off more than it can chew judging from its fourth-quarter and fiscal 2011 results.

The Sunnyvale, Calif.-based radiosurgery device maker paid $300 million for its larger rival TomoTherapy in March. That acquisition sent ARAY into the red for both the quarter and full year.

Accuray ups offering to $100 million | Funding Roundup

August 2, 2011 by MassDevice staff

Accuray's initial proposal of $75 million in convertible senior notes rises to $100 million in official pricing.

Updated: 08/02/2011 1:30 p.m.

Accuray

Accuray Inc. (NSDQ:ARAY) priced its proposed offering higher than previous estimates, coming in at $100 million in 3.75 percent convertible senior notes made available to institutional investors.

The sale was set to close yesterday, according to SEC filings.

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