Shares of Isoray (NYSEMKT:ISR) gained more than 200% in pre-market trading this morning after the internal radiation therapy developer announced it had received U.S. Food and Drug Administration clearance for the use of its brachytherapy seeds along with MRI markers by C4 Therapeutics (NASDAQ:CCCC) to treat prostate cancer.
Isoray is the sole producer of Cesium-131 brachytherapy seeds, which are expanding brachytherapy options throughout the body. The therapy is a form of radiotherapy where a sealed radiation source is placed inside or next to the area requiring treatment.
C4’s positive-signal magnetic resonance imaging (MRI) markers are used with Isoray’s seeds in prostate cancer therapy. According to the company, the Cesium-131 brachytherapy seeds enable the radioactive isotope to deliver a minimally invasive and highly targeted treatment to the site of the cancer. This helps preserve healthy tissue and organs.
In November’s first fiscal-quarter earnings report, Isoray said prostate brachytherapy represented 79% of its $2.38 million in total revenue, compared to 90% in the prior year comparable period. The decline was attributed to fewer procedures undertaken by physicians as a result of pandemic concerns.
The Bottom Line on ISR Stock
InvestorPlace analyst Louis Navellier has a D total grade on ISR stock. As with any penny stock, and particularly those in the biopharma space, tread carefully. As quickly as a name like Isoray could appreciate, the next minute those gains could be gone.
On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article.
InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, following fintech, agtech and property tech startups.
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