IsoRay, Inc. (NYSE MKT:ISR), a medical technology company and innovator in seed brachytherapy and medical radioisotope applications for the treatment of prostate, brain, lung, head and neck and gynecological cancers, announced its financial results for the quarter and nine months ended March 31, 2015. Recent publications are having a positive impact in the marketplace with new institutions seeking licenses to offer Cesium-131 treatment. While revenue increased a nominal two percent between the quarter ended March 31, 2014 and the quarter ended March 31, 2015, revenue was basically flat when comparing the nine month periods. IsoRay has a current cash balance of over $20,000,000 with no debt.

IsoRay’s management continues to diversify its product offerings. Several new institutional based studies are in the final stages of implementation and their launch should be announced shortly. These studies involve new body sites or are designed to test new theories on how to better treat cancer patients with the hope of lessening patient side effects thus providing improved quality of life. Many of the Cesium-131 cases currently being performed outside the prostate are performed on patients that have aggressive cancers which to date have failed current standard of care options. Management continues to believe the prostate market has bottomed out at this time. Management continues to see slow adoption for IsoRay’s international sales efforts, with the devaluation of the Euro causing its products to become higher in price.

IsoRay has been very active in marketing its product line at numerous new venues in support of the growing number of body sites currently treated with Cesium-131. IsoRay exhibited at a number of national conventions and regional conferences and also sponsored industry leaders in formal dinner presentations noting the methods and successes of using Cesium-131 to treat specific cancer types. National meetings attended include the American Association of Neurological Surgeons, Society of Gynecological Oncology and The Society of Thoracic Surgeons. Isoray supported several institutional sponsored events including Rutgers (Robert Wood Johnson)-Cancer Institute of NJ 2015 4-R Symposium and Weill Cornell Advances in Brachytherapy, An International Symposium.

IsoRay Chairman and CEO Dwight Babcock commented, “Clinical evidence provided through protocols/studies performed by major medical centers is proving utilizing Cesium-131 is either equal to or better than the current standard of care alternatives. This evidence, coupled with patients enjoying an improved quality of life, remains the key to IsoRay’s success. Studies also aid in generating awareness and ultimately general adoption by community hospitals and physicians, which will in turn drive consumers to our product offerings. To this end and given this growing acceptance and interest in our now published results, IsoRay remains committed to our strategic sales and marketing objectives, which we believe will contribute to long term growth and achieving profitability.” (Original Source)

Shares of IsoRay opened today at $1.55 and are currently trading down at $1.5398. ISR has a 1-year high of $3.29 and a 1-year low of $1.22. The stock’s 50-day moving average is $1.57 and its 200-day moving average is $1.55.

On the ratings front, Maxim Group analyst Jason Kolbert reiterated a Buy rating on ISR, with a price target of $5, in a report issued on February 18. The current price target implies an upside of 224.7% from current levels.

According to, Kolbert has a total average return of -0.6%, a 39.4% success rate, and is ranked #2967 out of 3604 analysts.

IsoRay Inc offers solutions for the treatment and diagnosis of disease using medical isotopes.