Sirtex Medical Limited

SRX Details
·         Disappointing SARAH study results dragged the stock lower:Sirtex Medical Limited (ASX: SRX) stock lost over 12.7% on April 24, 2017 as SARAH study did not meet the primary endpoint of an OS benefit versus sorafenib. As per the group’s reports, Per-Protocol (PP) median Overall Survival (OS) in SIR-Spheres® Y-90 resin microspheres arm was identical to sorafenib. Moreover, the Intention-To-Treat (ITT) median OS in SIR-Spheres microspheres arm of 8.0 months as compared to 9.9 months in the sorafenib arm was not significantly different. On the other hand, safety and toxicity benefits and better Quality of Life (QoL) are said to favor SIR-Spheres microspheres and the group is positive on these findings. The group also reported that they would start sales and marketing activities on the SARAH result across Europe, the Middle East and in Asia-Pacific.

·         Recommendation:We maintain our “Hold” recommendation on the stock at the current price of $ 14.80
 

Better Quality of Life with SIR-Spheres over Sorafenib (Source: Company Reports)

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