Experts’ positive response sends Sirtex shares soaring
Key lesson in plunge
SIRTEX shares have soared after the biomedical group received a positive response from oncology experts to its liver cancer treatment.
The reaction from the American Society of Clinical Oncology’s ( ASCO) conference in Chicago at the weekend has spurred hopes that Sirtex can boost sales of its treatment.
The stock surged $3.84, or 14.4 per cent, to $30.52.
Sirtex executives told ASCO delegates about a study that showed its treatment increased the amount of time liver cancer patients lived by around 7.9 months and reduced the risk of the disease spreading.
Chief executive Gilman Wong said feedback from the conference, which was attended by 30,000 oncology experts, indicated that the treatment could be used more widely as a first-line remedy for metastatic colorectal cancer.
“We are pleased with the outcome of the ASCO peer review process.” TROUBLED education provider Vocation faces a massive plunge in annual earnings after being forced to sell a string of businesses following problems with its Victorian operations.
Vocation expects its underlying earnings for 2014-15 could be anywhere between a $3 million profit and a $3 million loss.
Underlying revenue is expected to be $15 million.
Vocation has come under intense pressure since the Victorian Government withdrew $20 million in funding in 2014 amid criticism of the quality of Vocation’s education services.