Accuray is planning to slash its workforce by 13% in an effort to dull the blow of a second quarter it projects to come in well below expectations, and the company's shares have dropped about 20% since the Thursday night announcement.
After 10 years with devicemaker Accuray, CEO Euan Thompson is stepping down from the post, and the company has selected former Mentor CEO Joshua Levine to replace him.
Here we've rounded up 20 notable pharma-academic collaborations from 2012 or those that made headlines this year. Check out the list and learn where Big Pharma is placing its bets and seeding projects that could yield big-time products down the road. Check out the slideshow >>
Accuray is moving past its licensing agreement with Morphormics and just buying the company outright, spending $5.7 million to acquire the developer of imaging software.
With an eye on expanding the use of its oncology devices, Accuray has signed a master research and collaboration deal with the German Cancer Research Center.
Fresh off the news that Stryker ( $SYK ) was cutting jobs, Accuray ( $ARAY ) has said it also is cutting 5% of its workforce, or 51 jobs, to reduce costs following its earlier acquisition of TomoTherapy.
Accuray has agreed to buy TomoTherapy, a creator of radiation therapy solutions for cancer care, for $4.80 per share in cash and stock, or approximately $277 million. The combined company will have