SIX MONTHS OF BIOTECH GROWTH: BDI-20 UP 93%
June 8th 2009 02:26
Biotech Daily
Monday June 1, 2009
Daily news on ASX-listed biotechnology companies
Monday June 1, 2009
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
This month’s Biotech Daily Top 40 v S&P ASX chart (below) showing six consecutive months of growth is worth a close look.
Biotech Daily is skeptical of “chartists” using price and volume flows to pick winners, but the trend is incontestably upward with the Biotech Daily Top 20 Index (BDI-20) up 93.1 percent for the six months to May 31, 2009, with a slower positive rate for the Second 20.
For the 12 months to May 31, 2009 the BDI-20 was up 23.0 compared to the S&P ASX 200 falling 32.5 percent.
In the month of May, the BDI-20 was up 11.7 percent, the Second 20 was up 7.4 percent giving the BDI-40 an 11.02 percent increase and the lower 60 were also positive. In the same period the S&P ASX 200 was up 0.98 percent. The increase follows the factoring-in of the takeover bids for Arana and Heartware. One respected analyst told Biotech Daily last week that the biotech run was over. Sorry. We don’t think so.
The three Big Caps (which are not in the BDI-40) fell 12.9 percent in May, dragged down by CSL’s 15.7 percent fall to $17.5 billion on the Talecris deal. Resmed fell 13.25 percent but Cochlear climbed 7.9 percent to $3.0 billion.
Twenty-two Top 40 companies were up, 16 fell and two were unchanged. Nanosonics’ 142.4 percent jump was primarily due to the ASX’s inability to include 92,235,861 escrowed shares in its data. Progen’s $45 million or (69.2%) fall to $20 million mostly reflects its $40 million buy-back.
Avexa led the pack, up 107.1 percent on a series of announcements. Acrux was up 95.8 percent to $188 million, followed by Novogen (78.7%) after a helpful blog by former CEO Dr Graham Kelly, Bone (63.6%), Genetic Technologies (58.8%), Genera (50%), Universal Biosensors (43.7%), Chemgenex (40.6%), Benitec (37.5%), Starpharma (26.9%), Clinuvel (26.1%), Phylogica (25%), Optiscan (20%) and Pharmaxis (15.5%).
Cytopia led the falls, down 30 percent to $7 million, followed by Sunshine Heart (25%), Cathrx (20.7%), Phosphagenics (17.7%) and Labtech (13.3%). Among the stocks outside the Top 40, Avita was up 37.5 percent and Compumedics rose 31.6 percent.
Biotech Daily Top 40 ($m) v S&P ASX 200 2008-‘09
Subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
| 45 |
| Vote |
Add To: 
subscribe to this blog