Sirtex Medical Ltd Some boost post a heavy fall
Some boost post a heavy fall:Sirtex Medical Ltd (ASX: SRX) stock rallied over 9.5% on May 19, 2017 post the heavy plunge witnessed a day beforeat the back of unfavorable research results under the combined FOXFIRE analysis. Particularly, theprimary endpoint of overall survival (OS) and progression-free survival (PFS) 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 survival (OS) in SIRSpheres® Y-90 resin microspheres arm of 11.3 months versus 10.4 months for sorafenib was not significantly different but there were major safety and toxicity benefits. Nonetheless, the scope of the product seems to be limited to a ‘salvage’ treatment. These mixed aspects in consideration, coupled with group’s expansion strategies and opportunities to grow through more R&D activities and acquisitions have caught attention by some investors and brokers.
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