Shares in Sirtex Medical Limited (ASX: SRX) fell more than 4 per cent in Monday's trade despite the liver cancer treatment specialist releasing no news to the market. The company's share price has been volatile after a turbulent 12 months that included a big profit downgrade and the summary sacking of a long-serving CEO.
The business is also facing multiple potential class actions over alleged breaches of its continuous disclosure obligations related to last December's guidance downgrade.
Sirtex is due to hold its Annual General Meeting on October 24 where investors may get an update as to how dose sales of its selective internal radiation (SIR) spheres are tracking over the first quarter of FY 2018.
If sales growth is still weakening in its core U.S. market some investors may head for the exits. Short sellers are already betting against the company with 4.5 per cent of the stock reportedly sold short as at October 10 2017.
