ViewRay, which markets the first and only FDA-approved MRI-guided radiation therapy system, withdrew its plans for an initial public offering on Thursday.
The company had planned to raise $52 million at a fully diluted market cap of $204 million by listing on the NASDAQ under the symbol VRAY but postponed the offering in early April.
Close peer Accuray (NASDAQ: ARAY) is up over 20% year-to-date after a disappointing performance in 2014.
The Oakwood Village, OH-based company was founded in 2004 and booked $6 million in sales for the fiscal year ended December 31, 2014. Cowen & Company and Stifel were set to be the joint bookrunners on the deal.
