FEBRUARY BDI-40 FALLS, RETAINS LEAD OVER S&P ASX200
March 14th 2010 01:51
Biotech Daily
Monday March 1, 2010
Daily news on ASX-listed biotechnology companies
Monday March 1, 2010
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
Narrowly retaining its numerical lead over the ASX benchmark, the Biotech Daily Top 40 Index (BDI-40) fell 3.2 percent in February 2010, while the S&P ASX 200 climbed 1.5 percent. The BDI-20 fell 2.4 percent for the month, with the Second 20 down 7.7 percent.
But for the year to February 28, 2010, the BDI-40 was up 115.2 percent, compared to the ASX200 up 38.7 percent. The BDI-20 was up 118.6 percent for the year with the Second 20 up 97.5 percent.
The three Big Caps of Cochlear, CSL and Resmed, which are not included in the BDI-40, collectively gained 9.9 percent for the month – their biggest gain in more than a year - but were 7.2 percent lower than 12 months ago. Cochlear fell 0.03 percent to $3,607 million, Resmed climbed 10.8 percent to $4,911 million and CSL had its first significant improvement since October 2009, up 11.7 percent for the month.
Twenty-six biotechnology companies fell with 16 falling more than 10 percent, while nine climbed with five up by more than 10 percent.
Heartware was the best in February 2010, with a $71 million capital raising taking it up 34 percent to $603 million, followed by Clinuvel up 23.1 percent to $80 million, Tissue Therapies up 19.2 percent to $31 million, Phosphagenics up 16.3 percent to $57 million and QRX up 14.0 percent to $98 million. Virax was the best performer outside the Top 40 climbing 72.7 percent to $19 million with Anteo up a further 37.5 percent to $22 million.
Cathrx led the falls, down 47.4 percent to $20 million, followed by Chemgenex down 27.4 percent to $193 million, Phylogica (26.9%), Bone (26.3%), Patrys (24.3%), Circadian (21.9%), Avexa (21.4%) and Novogen (21.3%).
Biotechs raised $80.6 million in February 2010 compared to the $5,450,000 raised in February 2009 and more than $580 million in the year to February 28, 2010.
Despite a component problem (BD: Feb 26, 2010) Nanosonics has established itself as a successful innovator with product in the market and will be promoted to the Top 20, swapping with Phosphagenics which appears to be concentrating as much on its cosmetic applications as its transdermal human health applications.
Biotech Daily Top 40 ($m) v S&P ASX 200 2009
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