On Thursday, Sirtex Medical Limited (ASX:SRX) released its Sirflox ASCO Abstract to the ASX, which underlined improvements to its cancer trial study. The Sirflox study is an international, multi-centre, randomised controlled study that has enrolled patients with mCRC whose disease is non-resectable and has spread to either the liver or multiple body systems. This study is the first, large randomised controlled study that has examined the use of Selective Internal Radiation Therapy, known as SIRT or radioembolisation, for the treatment of colorectal liver metastases.
The recent announcement revealed improvements in the study. The Sirflox study showed an additional 7.9 month improvement in median progression-free survival time in the liver, a 62.7 per cent improvement. Patients whose treatment included SIR-Spheres microspheres had a 31 per cent lower risk of the tumours in their liver progressing during the time they were on the Sirflox study. The authors of the study confirm that median progression-free survival in the liver was significantly extended and the addition of SIR-Spheres microspheres was associated with acceptable toxicity.
Investors have reacted to the positive development, sending shares of SRX surging $5.71, or 28.55 per cent, to $25.69 per share around 1:35pm on Thursday. Two months ago in March, shares of SRX fell over 50 per cent after the same study did not reveal any significant improvement in liver treatment. After partially regaining some ground, shares of the company have been in a downward trend since mid-April. SRX has yet to recover to the all time high it reached in February. SRX has advanced 51.51 per cent in the last 12 months but has fallen 7.72 per cent so far this year.
Author: Imran Valibhoy
May 14, 2015
Since Joining the firm in 2006, Imran has worked on a range of M&A and Capital Market transactions in the natural resources, mining as well as projects in the renewable energy sector. Prior to joining Wise-owl, Imran worked at Euroz Securities in Perth, aiding in the advisory and valuation of companies in the mining and industrial sectors in Australia. Imran has a Masters in Banking & Finance from City University's Class Business School in London and a Bacheloor degree in Commerce from UWA.