Shares in liver cancer treatment specialist Sirtex Medical Limited (ASX: SRX) have edged lower today after the group held its AGM and revealed that sales for the quarter ending September 30 2017 had dropped 4.8%.
In fairness much of the fall is related to a softer U.S. dollar with the company earning the majority of its revenues in the lucrative U.S. healthcare market, with dose sales of its selective internal radiation (SIR) therapy treatment reported as “flat”.
Sirtex has been in the news for the wrong reasons over the past 12 months and still faces potential compensation claims from shareholders over alleged breaches of its continuous disclosure obligations over the second half of 2016.
Operationally it is aiming to promote the use of its SIR-spheres more broadly in treating different cancers at different stages of their development.
However, given the flat dose sales over the start of the financial year investors may be nervous over the prospect of alternative therapies presenting rising competition. The stock has lost half its value over just the past year and sells for $13.90 today. For investors it could be another volatile 12 months ahead.
Alert For ASX Investors: Warning, Remove These 3 Stocks From Your Portfolio Now.
This breaking research reveals why these 3 popular stocks could be in for a big fall.
Simply click here to access your FREE report, “3 Toxic Aussie Stocks to Avoid at All Costs” today!
Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned.
You can find Tom on Twitter @tommyr345
The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.