CAFA on Sirtex, page-16

Snip from the Aussie

"Morgans analyst Derrick Jellnick said he believed the fair value of the stock was between $15 and $20. “While the trial did show the product increased progressive free survival in the liver in a statistically significant manner, this is a secondary endpoint of the study that did not translate into any patient benefit.”
UBS was more hopeful saying the treatment did meet its secondary end point of controlling cancer of the liver while not improving survival rates.
“If we assume the secondary end point does lead to higher utilisation, we value the company at $28.75,” the broker said in a note to clients."

http://www.theaustralian.com.au/bus...rial-disappoints/story-fn91v9q3-1227267052015