Company Update (NYSE MKT:ISR): IsoRay, Inc. Announces Appointment of New Director

IsoRay, Inc. (NYSE MKT:ISR), a medical technology company and innovator in seed brachytherapy and medical radioisotope applications, announced the appointment, on June 18, 2015, of Michael (Mick) McCormick, former Executive Vice President of Global Sales and Marketing of Columbia Sportswear, to its Board of Directors.

Mr. McCormick will serve on the Audit and Compensation Committees of the Board, and will chair the Nominating and Corporate Governance Committee of the Board.

Mr. McCormick brings over 25 years of senior executive positions in global management, sales, and marketing to the Company. He is currently the CEO of Glukos, one of the fastest growing food energy products in the U.S. He also serves as a founder and partner of GO Intellectual Capital, an advisory firm specializing in medical, aviation, and financial services. GO Intellectual Capital recently provided consulting services to DJO Global, a medical device and services company, to expand its product assortment, add new channels of distribution, and market new category opportunities. Prior to his service with Glukos and GO, Mr. McCormick served as Executive Vice President of Global Sales and Marketing for Columbia Sportswear from 2006-2012, where his team successfully launched several new patented technologies, including Omni-Heat® Reflective and Omni-Freeze® Zero. During Mr. McCormick’s tenure, Columbia built an intellectual property portfolio with over 200 patents. Mr. McCormick started his career with Nike, working in several senior management roles and ultimately becoming the Director of National Sales, US, prior to his departure in 1999. He also served as Chief Marketing Officer of Golf Galaxy from 2003-2006 and Executive Vice President of Global Sales and Marketing of Callaway Golf from 2000-2003.

“Mick’s vision, strategy and leadership led to the introduction of many innovative best-selling products at Columbia Sportswear,” said Dwight Babcock, IsoRay’s Chairman of the Board and Chief Executive Officer. “We will deeply benefit from his sales and marketing expertise. It is difficult to find a director with both a strong background in well-known retail brands including Nike and Columbia Sportswear and a marketing background in the medical technology arena. We are excited that Mick has the experience and background to assist us in enhancing our communications and marketing strategies to get our products recognized as national and international brands by the healthcare community.”

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 opened today at $1.51 and are currently trading up at $1.519. 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 $1.70 and its 200-day moving average is $1.56.

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, Kolbert has a total average return of 2.2%, a 42.0% success rate, and is ranked #1351 out of 3638 analysts.

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

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