Sirtex stock nosedives post release of research results
Unfavourable research results: Sirtex Medical Limited (ASX: SRX) came under immense pressure with stock price getting crushed by over 28 per cent on May 18, 2017. This came at the back of unexpectedly disappointing research results under the combined FOXFIRE analysis. The primary endpoint of overall survival (OS) did not show statistically significant improvement of SIR-Spheres® Y-90 resin microspheres plus chemotherapy over chemotherapy alone in non-resectable, first-line metastatic colorectal cancer (mCRC) patients. Further, overall progression-free survival (PFS) between SIR-Spheres plus chemotherapy versus chemotherapy alone was not significant. It has been specifically stated that despite higher response rates and improved liver-specific PFS, the addition of SIR-Spheres to first-line oxaliplatin-fluorouracil chemotherapy for patients with liver-only and liver-dominant mCRC did not improve OS or PFS. The SIR-Spheres now seem to have a scope limited to salvage treatment instead of earlier projections on primary treatment for colorectal cancer, as the same have failed to attain a survival benefit over traditional treatment. As of now, the group stated that there might not be any impact on regulatory approvals at a global level with regards to the use of SIR-Spheres in salvage setting with support from extensive scientific evidence and recommendation in treatment guidelines for mCRC across the globe. SRX has highlighted that there is a need for further investigation on results that showed a 36 per cent reduction in the risk of death in patients with right-sided colon cancers.
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