Sirtex shares tank after disappointing results from a cancer drug trial

William Thomas Cain/Getty Images

Shares in Australian biotech Sirtex fell through the floor after disappointing results from a cancer drug trial.

The shares are trading at $17.26, down more than 55%.

Study results for the drug didn’t show a statistically significant improvement in the colorectal tumours.

However, Sirtex said the preliminary analysis showed that SIR-Spheres Y-90 did result in a statistically significant improvement in liver tumours.

The final results and analysis of the study will be submitted to the American Society of Clinical Oncology Annual Meeting in Chicago in May-June.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.