Accuray rises following analyst upgrade

>>Shares of radiosurgery device maker Accuray Inc. rose Tuesday after a Soleil Securities analyst upgraded the stock, saying it will trade higher as Accuray provides new details and clinical data for its CyberKnife system.

>>In a telephone interview, Accuray Chief Executive Euan Thomson said the company uses a different business model from other medical equipment makers: at least once a year, the company offers upgrade packages for its CyberKnife system, which can siginficantly increase its capabilities.

Thomson said the company has been collecting data on patients treated with CyberKnife for three to five years. While the data has not yet been peer-reviewed and may not be published for as much as a year, he said the early results look “extremely promising.”

Accuray also has a partnership with CyberHeart, a startup that is testing radiosurgical treatments for atrial fibrillation, or abnormal heart rhythms. CyberHeart believes atrial fibrillation can be treated by making controlled lesions in the heart.