Sirtex swings to a loss after ‘challenging’ year

Share

Sirtex MedicalShares in Australian cancer treatment developer Sirtex Medical (ASX:SRX) plunged more than 15% yesterday after the company posted a net loss of -A$26.9 million in 2016, compared to a profit of A$54 million the year before.

Sirtex has faced a barrage of obstacles this year, including a number of clinical trials that failed to meet primary endpoints. The company’s full-year results were hit by a slowdown in sales growth of its SIR-Spheres Y-90 radioactive microspheres and by the costs linked to its restructuring efforts.

Get the full story at our sister site, Drug Delivery Business News.

Speak Your Mind

*