YEAR TO JUNE BDI-20 UP 32%; BIOTECHS RAISE $30m/MONTH
July 13th 2009 03:36
Biotech Daily
Wednesday July 1, 2009
Daily news on ASX-listed biotechnology companies
Wednesday July 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
The 2008-’09 financial year was not bad for biotechs. While many have struggled and some have gone under, the Biotech Daily Top 40 Index (BDI-40) is 10.5 percent above the same time last year and the sector has raised about $500 million in the last 12 months.
Biotech companies have raised more than $184.611 million since January this year and just under $300 million since June 30, 2008, not including significant raisings by institutions such as GBS Ventures’ $122.5 million and Brandon Capital’s $50 million.
The Top 40 Biotechs have clearly out-performed the S&P ASX 200 over 12 and 24 months and the data shows the less diversified and bigger, the better.
The three Big Caps of Cochlear, CSL and Resmed, which are not included in the BDI-20 and BDI-40 indices, were up 10.1 percent for the month of June, compared to the S&P ASX 200 up 3.6 percent. Cochlear climbed 7.5 percent, CSL was up 10.7 percent and Resmed improved 9.2 percent.
For the year to June 30, 2009, the Big Caps climbed 6.4 percent compared to the ASX 200’s 24.2 percent tumble and in the two years since July 1, 2007 the Big Caps climbed 14.2 percent compared to the ASX 200’s 37.0 percent fall.
While the BDI-20 retreated 2.3 percent for the month of June after six consecutive months of growth, the Top 20 biotechnology companies were up 31.5 percent for the year, while the smaller Second 20 companies reduced the overall BDI-40 rise to 10.5 percent for the year. Over two years, the BDI-20 fell 18.6 percent and the BDI-40 lost 32.5 percent compared to Australia’s largest 200 companies falling 37.0 percent.
Eight of the Top 40 companies were up, of which seven were in the Top 20, 29 fell and three were unchanged. Chemgenex was best up 29.6 percent to a market capitalization of $184 million, followed by Mesoblast (14.1%) and Sirtex (12.0%).
Genetic Technologies led the falls, down 37.0 percent to $17 million, followed by Novogen deflating 36.9 percent after last month’s 78.7 percent rise, Prana (35.9%), Polartechnics (30.8%), Clinuvel (23.4%), Peplin (22.3%), Phylogica (20.0%), Bionomics (18.5%) and Biota (12.9%).
Biotech Daily Top 40 ($m) v S&P ASX 200 2008-‘09
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