This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

IsoRay, Inc. Receives $500,000 In Additional Financing

Stocks in this article: ISR

IsoRay Inc. (AMEX: ISR) has received an additional $500,000 in institutional financing. Together with the financing closed in November 2010 and the Company's improved operations, it continues to add to its cash reserves as it aggressively pursues further development of programs expanding the use of its ground-breaking Cesium-131 brachytherapy seeds (internal radiation therapy). Cesium-131 has already shown exciting results in treating prostate , lung, ocular, brain, colorectal, and head and neck cancer .

IsoRay CEO Dwight Babcock said, "We are pleased that this unique technology is generating new sources of revenue as physicians find new uses for Cesium-131 to attack cancers throughout the body. We expect these new sources of revenues will substantially contribute to our financial results as we move forward."

Some of the funds from the financing will be used to continue development of our innovative breast cancer application. Previously, IsoRay announced completion of an initial feasibility study, which demonstrated the ability to use its patented Cesium-131 brachytherapy seeds in accelerated partial breast irradiation (APBI) for breast cancer treatment. APBI is one of the most innovative, emerging treatments available today for early stage, localized breast cancer. The funding will also allow IsoRay to explore opportunities in pancreatic and gynecologic cancers.

IsoRay plans to begin selling the GliaSite® radiation therapy system, the world's only balloon catheter device used in the treatment of brain cancer, in August. The GliaSite system offers a number of advantages over other brain cancer treatments. It places a specified high dose of a liquid radiation source in the areas most likely to contain cancer after a brain tumor's removal and is less likely to damage healthy brain tissue. It helps eliminate the ability for the tumor to reoccur, which in turn impacts patient longevity and quality of life.

IsoRay's funding announcement comes as two recent studies have found significant advantages in the use of brachytherapy in treating prostate cancer. According to a study by Memorial Sloan-Kettering Cancer Center in New York, brachytherapy treatment for prostate cancer appears to be a better treatment option compared to IMRT (intensity-modulated electron beam radiation therapy) for a majority of men diagnosed with low-risk prostate cancer.

A recent online publication of AuntMinnie.com reported on the study saying, "These are practice-changing findings for physicians at Memorial Sloan-Kettering Cancer Center in New York City, who now favor brachytherapy as the treatment of choice for patients who have the option of either therapy, according to lead author Michael Zelefsky, MD, radiation oncologist and chief of brachytherapy service, and colleagues."

In other developments , Reuters Health reported on the findings of Dr. Nelson Stone and his colleagues from Mount Sinai School of Medicine in New York. Their study investigated freedom from metastases, long-term biochemical and local control, and cause-specific survival in more than 2,000 men with prostate cancer. The men received brachytherapy treatment between 1990 and 2006. The findings were published in the February issue of the Journal of Urology which appeared online December 17, 2010 .

In an email, Dr. Stone told Reuters Health, "Prostate brachytherapy is a safe and effective treatment for prostate cancer, as long as it is performed by an experienced team." He added , "It has the lowest side effect profile of all the treatments." Further, Dr. Stone said, " Prostate brachytherapy is far less expensive than IMRT or robotic prostatectomy and can be done as an outpatient procedure, with the patient returning to work or resuming their normal life style within one to two days following the procedure."

"When properly performed, where the delivered dose is high enough, brachytherapy compares favorably to all other prostate cancer treatments, including robotic prostatectomy, external beam irradiation (IMRT), and cryotherapy," Dr. Stone noted in his e-mail to Reuters Health . "The likelihood of a patient suffering a local recurrence is the lowest after brachytherapy, especially in more aggressive prostate cancers (Gleason score 8 or above)," he said.

Pointing to the import of these studies, Babcock says, "These studies accentuate an ever-growing body of evidence regarding the efficacy of brachytherapy and its positive impact on patient outcomes. They make an important contribution at a time when we look forward to the release of IsoRay's 5-year patient data on the use of Cesium-131 to treat prostate cancer. While Cesium-131 was not available when these studies began, we now know its unique characteristics distinguish Cesium-131 from other brachytherapy options. We believe our Cesium-131 isotope is superior in brachytherapy to the alternative isotopes utilized in these studies," he said.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs