IsoRay, Inc. (NYSE MKT:ISR), a medical technology company and innovator in seed brachytherapy and medical radioisotope applications, announced the successful evaluation of its quality management system following an audit conducted by British Standards Institution (BSI).
IsoRay Medical undergoes extensive annual audits in order to maintain the ISO 13485 certification that allows IsoRay to market its brachytherapy products in the 28 countries that make up the EU community, in addition to other countries that recognize ISO certification. IsoRay enjoys both FDA clearance and CE markings for its family of cancer treatment products.
IsoRay CEO Dwight Babcock commented, “Operating in a heavily regulated international environment as we do, it is crucial that IsoRay continues to dedicate a substantial amount of energy and vigilance to our quality systems. It remains a very high priority that IsoRay products and processes pass muster with the most demanding international standards, including ISO 13485”.
ISO (International Organization for Standardization) is the world’s largest developer and publisher of international standards. The ISO 13485 certification covers the design, development, production and sales of IsoRay products. IsoRay’s ISO 13485 certificate was awarded by BSI, which in this most recent surveillance audit reported no observations or findings.
IsoRay’s various products, including Cesium-131 seeds, sutured seeds, stranded mesh and the GliaSite®radiation therapy system, give physicians the ability to directly place a specified dosage of radiation in areas where cancer is most likely to remain after completion of a tumor removal or by placing seeds within the prostate. The ability to precisely place a specified dose of radiation means there is less likelihood for damage to occur to healthy surrounding tissue compared to other alternative treatments. IsoRay’s cancer fighting products diminish the ability of the tumor to recur, resulting in important benefits for patients in longevity as well as quality of life. (Original Source)
Shares of IsoRay Inc closed yesterday at $1.52 . ISR has a 1-year high of $3.79 and a 1-year low of $1.22. The stock’s 50-day moving average is $1.71 and its 200-day moving average is $1.57.
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 May 21. The current price target implies an upside of 228.9% from current levels.
According to TipRanks.com, Kolbert has a total average return of 2.8%, a 42.0% success rate, and is ranked #1199 out of 3629 analysts.
IsoRay Inc offers solutions for the treatment and diagnosis of disease using medical isotopes.