Guggenheim analyst Chris Pasquale said he believes ViewRay's (VRAY) plans to issue $75M in new equity "should go a long way toward mitigating" investor concerns about the company's cash burn and balance sheet. However, as important as this improved liquidity is, he sees the strategic implications of collaborations with both Elekta (EKTAY) and Medtronic (MDT) as "even more profound," telling investors that the participation of two large, strategic partners in the equity raise is a significant endorsement of ViewRay's technology. Pasquale reiterates his Buy rating on ViewRay shares, which are up $1.10, or 32% to $4.50 in pre-market trading.