I suggest if you a seeking to answer the question of whether sirtex is now a more valuable company than it was two years ago this would be done independently of the share price performance.
I also believe that's a relatively easy question to answer
- $100m+ cash on the balance sheet
- Gross margins sustained at 85-90%
- Completion of the largest ever randomised trial for Y90. (interpret the results negatively if you will but I think all members of the industry have a greater understanding of the treatment now than they did prior to the trial results.)
- Circa 6 months until completion of three additional trials which may be absolutely game changing for the company.
- commencement of trials for Y90 in liver.
- dose sales currently at record highs
- R&D invested in a number of different areas (as shown on monday).
When looking at the squiggles on a share price chart its easy to forget what has been achieved over the longer term. Now imagine what could be achieved over the next 5 years.
IMO the trial results may not show the amazing results that we all hope but I would be extremely surprised if the information gained from these trials did not result in an expansion in the use of SIRT. Considering dose sales are only ~12k a year out of over 1.4m cases of mcrc + hcc a year it wont take much to move the needle.
SRX Price at posting:
$27.84 Sentiment: None Disclosure: Held
