ViewRay postponed its initial public offering with which it planned to raise $52 million for its MRI-guided radiation therapy technology, Renaissance Capital reported.
Oakwood Village, Ohio-based ViewRay had planned to float 4 million shares at $12 to $14 apiece.
ViewRay’s MRIdian uses magnetic resonance imaging and Cobalt-60 radiation therapy to "locate, target and track the position and shape of soft-tissue tumors while radiation is delivered," according to the filing. In May 2012, the company won 510(k) clearance from the FDA for its MRIdian device, which won CE Mark approval in the European Union 2 years later, according to the filing.
It’s the latest medical device company to postpone or cancel an IPO recently. In early April Infraredx officially withdrew an IPO it hoped would raise $56 million, citing "unfavorable market conditions."