Is Sirtex's clinical trial result as bad as it seems?

Sirtex's treatment for liver cancer had a setback after the release of the SIRFLOX trial results. So why has one of the company’s largest shareholders increased its stake?

Sirtex’s (ASX:SRX) share price fell 60% on March 17 after management announced the failure of a 7-year clinical trial. So why has one of the company’s largest shareholders increased its stake by 30%?

SIRFLOX was the first of three Phase III trials that Sirtex hopes will provide doctors with enough data to support using the company’s SIR-Spheres as a first-line treatment for liver cancer. If successful, profits could increase several-fold.

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