IsoRay, Inc. (NYSE:ISR) reported a loss for the fourth quarter, while sales missed expectations.
The company, whose American headquarters are based in Richland, Wash.., calls itself “a medical technology company and innovator in seed brachytherapy powering expanding treatment options throughout the body.”
Revenue for the fourth quarter of fiscal 2020 grew 18% to $2.28 million versus $1.92 million in the prior year comparable period. The company’s core prostate brachytherapy revenue grew 11% when compared to the fiscal fourth quarter of 2019.
Prostate brachytherapy represented 84% of total revenue for the fourth quarter of fiscal 2020 compared to 89% in the prior year comparable period.
The majority of non-prostate brachytherapy revenue in the quarter was comprised of sales to treat brain cancer, including sales of GammaTile Therapy. Net new physician customer count for year ended June 30, 2020 increased 35% versus the prior year comparable period.
Gross profit as a percentage of revenues increased to 47.0% for the quarter, versus 45.7% in the prior-year comparable period.
Fourth-quarter gross profit increased 22% to $1.07 million versus $0.88 million in the fourth quarter of fiscal 2019, largely attributed to increased sales which were partially offset by higher isotope unit costs resulting from increased transit costs due to the COVID-19 pandemic’s decrease in international commercial flight capacity and increased payroll and benefits expense due to an increase in headcount.
Isoray CEO Lori Woods said, "Our full year financial performance serves as further evidence that our strategies to grow the company and expand the usage of our proprietary isotope, Cesium-131, are working."
ISR shares faded 15 cents, or 19.4%, to 63 cents.
