Sirtex Medical today saw shares rise as much as 6.5% today after reporting higher than expected sales of its SIR-Spheres Y-90 resin microspheres for the 12 months ended June 30.
That’s 16.4% up from last year, the Australian company reported, and between 15 and 17% higher than the guidance the company released on June 1st. Sales in the Americas saw growth of approximately 19% over the full and half year, Sirtex added.
“The strong double digit growth in global dose sales reflects the continued momentum we have achieved in this large, under-penetrated market opportunity for SIR-Spheres microspheres,” CEO Gilman Wong said in prepared remarks.
In response, shares rose approximately 6.5%, up $1.70 to close at $27.88, the largest rise for the company in over 8 months.
In March, Sirtex saw share prices fall as much as 7.2% to trade at $21.36, the lowest it’s been in 9 months, after announcing today that its Americas prez Mike Mangano is set to leave at the end of the financial year.
Mangano is slated to leave the Australian company after more than 6 years as Americas region prez to “explore new challenges in his career,” according to a press release from the company.
SirTex said it will search for a suitable candidate to replace Magano, expecting to complete the process prior to the end of its 2016 fiscal year.
