Sirtex Medical Limited

SRX Details

Rise in stock price:Sirtex Medical Limited (ASX: SRX) witnessed a stock price surge of 3.5% on September 28, 2017 while its directors have acquired SRX ordinary shares. For instance, director, Richard Hill has recently acquired about 1,964 ordinary shares; and Katherine Woodthorpe acquired about 982 ordinary shares. Meanwhile, SRX had responded to the recent allegations made by ASIC in connection with the group’s trading update of December and denied the claims. However, the group has complied with the infringement notice and intends to pay the penalty of $100,000, given the expected cost of contesting the Infringement Notice.
 

FY17 NPAT performance (Source: Company reports)

During this year, the group has come under pressure with regards to their performance and lower than expected outcomes of clinical studies; however, SRX’s core SIRSpheres® Y-90 resin microspheres have strong growth potential across the globe. SRX also expects their CMS reimbursement to be stable through CY18 in America while it is planning a US FDA PMA Supplement filing in 1H FY18. In EMEA, they are positioning for hepatocellular carcinoma post SARAH while making reimbursement submissions in Europe. The group is making preparations for further FDA submissions in the first half of 2018 while securing further reimbursement across the Americas, EMEA and APAC. They forecast similar market conditions of FY17 through FY18 while a SORAMIC clinical study result is expected in the second half of 2018. Sirtex is better positioned to grow within its under-penetrated salvage market, and considering this,we give a “Hold” on the stock at the current price of $ 13.90


SRX Daily Chart (Source: Thomson Reuters)

Mesoblast Limited

MSB Details

Enrolled patients for MPC therapy:Mesoblast Limited (ASX: MSB) has announced that researchers at Icahn School of Medicine have finished enrollment of a 159-patient Phase 2b trial evaluating MSB’s novel allogeneic mesenchymal precursor cell (MPC) therapy for treating end-stage heart failure. This trial is funded by the United States National Institutes of Health (NIH), and the Canadian Institute of Health Research (CIHR). The group has set major future milestones with regards to Phase 3 clinical trials of their lead product candidates in acute graft versus host disease (aGVHD), chronic low back pain on the back of disc degeneration (CLBP), and chronic heart failure (CHF). They are also seeking potential regulatory strategies to achieve faster approval pathways for these product candidates based on the serious and life-threatening nature of the diseases and the cumulative clinical results obtained to date using their proprietary mesenchymal lineage cell technology platforms. Their MSC-100-IV product got a Fast Track designation by the United States Food and Drug Administration (FDA) given the encouraging results on both overall response and survival. They are also pursuing the potential of an intra-disc injection of MPC-06-ID to cut the use of opioids in these patients. MSB stock lost over 29.8% in the last three months (as of September 27, 2017) and has slipped 2% on September 28, 2017. We give a “Hold” recommendation on the stock at the current price of $ 1.34


MSB Daily Chart (Source: Thomson Reuters)

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