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

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.However, the study found that administering SIR-Spheres didn’t improve ‘overall progression-free survival’ – the amount of time following treatment where the cancer doesn’t get worse (the study’s ‘primary endpoint’).On the face of...

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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