Shares 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.
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