CLEVELAND, April 13, 2017 /PRNewswire/ -- ViewRay, Inc. (Nasdaq: VRAY) today announced that it has reached an agreement
Modifications to the CRG Term Loan Agreement include:
Separately, ViewRay announced its preliminary first quarter 2017 new orders and cash position:
"Since receiving FDA clearance at the end of February, we have been pleased with the strong interest in the MRIdian Linac. The expansion of our Term Loan Agreement with CRG provides options to potentially add growth capital to our balance sheet as we continue the launch of our MRIdian Linac," said Chris A. Raanes, president and chief executive officer of ViewRay. "We continue to anticipate total revenue in 2017 to be in the range of $45 million to $50 million, primarily from 7 to 8 MRIdian Linac Systems. We expect to recognize revenue for these systems in the second half of 2017 upon system completion and acceptance."
About ViewRay ViewRay®, Inc. (Nasdaq: VRAY) designs, manufactures and markets the MRIdian® radiation therapy system. MRIdian integrates MRI technology, radiation delivery and proprietary software to locate, target and track the position and shape of soft-tissue tumors during radiation. ViewRay believes this combination of enhanced visualization and accuracy will significantly improve outcomes for patients. ViewRay and MRIdian are registered trademarks of ViewRay, Inc.
Forward Looking Statements: This press release contains forward-looking statements. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, the rate of new orders and installations, ViewRay's total revenue guidance for the full year 2017, and the benefits of MRIdian systems for patients. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue ViewRay's business and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to commercialize MRIdian Linac System, competition in the industry in which ViewRay operates and overall market conditions. These forward-looking statements are made as of the date of this press release, and ViewRay assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents ViewRay files with the SEC available at www.sec.gov.
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SOURCE ViewRay, Inc.
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