By Colin Kellaher
Shares of ViewRay Inc. lost more than a third of their value and hit a new 52-week low on Thursday after the radiation therapy system maker slashed its revenue guidance and said it would explore strategic alternatives, including a sale of the company.
ViewRay said it now expects revenue will be flat to up 15% this year, compared with a prior growth forecast of 25% to 40%.
The company also said its adjusted Ebitda loss this year would be wider than previous estimates.
ViewRay said it hired Goldman Sachs & Co. as an adviser to review its options, including a possible sale, merger or business combination.
ViewRay shares were recently changing hands at $1.96, down 35%, after hitting a 52-week low of $1.92 earlier in the session.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
April 13, 2023 11:43 ET (15:43 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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