Sirtex Medical’s Interim Result Meets Our Expectation
With the acquisition of Sirtex Medical at AUD 28 per share by Varian Medical Systems on track for completion, the posting of interim results, even though they meet our expectations, is largely redundant.Rightsizing of the business following the disappointing clinical trial readouts in all three major studies in early 2017 lowered expenses and preserved cash. As such, cash in hand as at Dec. 31, 2017 was a healthy AUD 42.8 million. With net profit after tax, or NPAT, of AUD 23.6 million on group...
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