By AuntMinnie.com staff writers

November 13, 2017 -- Image-guided radiation therapy developer ViewRay's net loss narrowed in its third quarter (end-September 30), continuing its streak from its second quarter.

Net loss for the third quarter was $11.2 million, compared with a loss of $14.1 million for the same period last year. However, for the nine months, the net loss increased to $47.5 million, compared with $39.6 million for the same period last year.

Revenues told a different story: Total revenue for the third quarter shot up to $12.2 million from $400,000 in the third quarter of 2016. Total revenue for the nine months was $14.1 million, compared with $6.1 million for the same period last year.

Also, the company received new orders for its MRIdian Linac systems, totaling $29.9 million in orders in the most recent quarter, up from $24.5 million in the same quarter a year ago.

The firm also raised $50 million to support the expanding commercialization of MRIdian Linac, according to Chris Raanes, ViewRay's CEO.


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