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IsoRay Reports 2nd Quarter Results

February 21, 2014

IsoRay, Inc., a medical technology company focusing on seed brachytherapy and medical radioisotope applications for the treatment of cancers of the brain, lung, head and neck, prostate and gynecological, announced its financial results for the quarter ended December 31, 2013.

In a release on February 18, the Company noted that the 2013 quarter over 2012 quarter growth of 11 percent in revenues comes from 3 general areas:

1. Revenue from the addition of new facilities utilizing cesium- 131, frequently selected for aggressive cancers that have recurred and all other treatment options have been exhausted.

2. Revenue from the continued accrual of patients under several active studies currently underway.

3. Revenue from facilities that have concluded an initial study by accruing a sufficient number of treated patients and continue to order post study due to successful patient outcomes they are experiencing while their data matures for publishing.

As most recently demonstrated with our just announced Liquid Cesium-131 being FDA cleared and used with the GliaSite balloon catheter, management continues to promote and diversify IsoRay's treatment options and resulting revenues by offering Cesium-131 as the alternative for treating recurrent and difficult cancers located throughout the body. Management routinely hears from potential new adopters considering Cesium-131 in the coming year based on the abstracts being presented at various conventions showing the early successes of utilizing Cesium-131 to fight difficult cancers, and we expect results from additional studies to be presented in the remainder of 2014, with many studies approaching time frames where peer reviewed articles can be expected to be published in the coming quarters. Management is extremely pleased with the effectiveness of Cesium-131 as a treatment solution for brain cancer, head and neck cancer, lung cancer, prostate cancer and gynecological cancers while providing far better quality of life for the patient than other alternatives.

The new medical device tax created by the Affordable Care Act has continued to impact IsoRay's financial results. IsoRay has continued to invest in R&D data protocols to support our future sales efforts for each new body site. In addition we have participated in more neurological, thoracic and radiation oncology national conferences than ever before as our product portfolio expands. IsoRay Chairman and CEO Dwight Babcock commented, "Clinical evidence provided through protocols performed by major medical centers that prove successful with a significant improvement is the key to getting general adoption by community hospitals/physicians which will drive consumers to our product offerings. Physicians and institutions through oral presentations, posters and abstracts are reporting outstanding results in the use of Cesium-131 seeds for the treatment of cancers of the brain, head and neck, prostate, gynecological, colon and lung. Given this growing acceptance and interest, we remain committed to our strategic sales and marketing objectives, which we believe will contribute to long term growth and achieving profitability."

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