TOP 40 FALLS 11% IN MARCH; BIG CAPS UP 1.5%; TOP 40 CHANGES
April 2nd 2008 10:55
Biotech Daily
Tuesday April 1, 2008
Daily news on ASX-listed biotechnology companies
Tuesday April 1, 2008
Daily news on ASX-listed biotechnology companies
Subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
BIOTECH DAILY’S TOP 40 INDEX
March was a hard month for the Biotech Daily Top 40 Index (BDI-40) with just five stocks improving in market capitalization and 35 down. All three Big Caps were up.
Collectively, the three Big Caps of Cochlear, CSL and Resmed – which are not included in the BDI-40 – climbed 1.5 percent for the month, with Resmed the best recovering 3.9 percent to $3,470 million. Cochlear climbed 1.4 percent and CSL rose 1.1 percent to a record high of $20,315 million.
For the month of March, the BDI-40 fell 11.3 percent compared to the All Ordinaries fall of 4.7 percent. For the 12 months to March 31, 2008 the BDI-40 fell 33.4 percent compared to the All Ordinaries, down 9.5 percent for the year.
The Biotech Daily Top 20 Index (BDI-20) fell 10.6 percent for the month and 37.2 percent for the year. The Second 20 fell 12.6 for the months and 23.2 percent of the year.
The best performing biotechnology stock was Optiscan up 12.5 percent from a low base to a market capitalization of $27 million, followed by Living Cell climbing $8 million or 12.1 percent to $74 million.
Apollo had the deepest fall, down 60 percent to $8 million when it requested a suspension from trading (see Biotech Daily March 18, 2008) citing a withdrawal of US investment.
Tissue Therapies lost 42.9 percent to $4 million followed by Stem Cell Sciences down 41.2 percent to $17 million, Portland Orthopaedics (37.5%), Mesoblast (32.7%) and Agenix (31.9%).
There are several changes to the Biotech Daily Top 20 and Second 20 with Cellestis being promoted to the Top 20 and Universal Biosensors joining the Second 20. Stem Cell Sciences leaves the Top 20 for the Second 20.
Biotech Daily Top 40 ($m) v ASX All Ordinaries 2007-08
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