MAY BDI-40 DOWN 3.6%, ASX200 DOWN 7.8%: HEARTWARE UP 26%, AVEXA LOSES 76%
June 20th 2010 05:49
Biotech Daily
Tuesday June 1, 2010
Daily news on ASX-listed biotechnology companies
Tuesday June 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
It may be a small consolation, but the Biotech Daily Top 40 Index (BDI-40) only lost 3.6 percent in May compared to the S&P ASX200 falling 7.8 percent.
The BDI-20 lost 3.0 percent while the Second 20 fell 7.4 percent. For the year to May 31, 2010 the BDI-40 was up 37.6 percent compared to the ASX200 up 16.0 percent with the BDI-20 up 35.6 percent and the Second 20 was up 50.3 percent.
The BDI-20 was affected by Avexa’s $84 million fall in market capitalization along with losses of more than 20 percent by Biota, Chemgenex and Living Cell, the last of which hit its largest market capitalization since listing in April.
The Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40), collectively fell 0.2 percent for the month, with Resmed up 13.2 percent to $5,795 million, while Cochlear fell 1.3 percent and CSL lost 2.4 percent.
Ten BDI-40 companies were up, 29 fell and one – Optiscan – was unchanged.
Heartware was the best in May, up 26.1 percent to $918 million, followed by Sunshine Heart up 11.1 percent to $20 million, Mesoblast up 9.7 percent to $294 million, Patrys (9.5%), Viralytics (5.2%), Clinuvel (4.3%), Bionomics (4.0%) and Phosphagenics (3.6%).
Avexa led the falls, down 76.4 percent to $26 million, followed by Living Cell down 26.8 percent to $71 million, Biota (24.6%), Cellmid (22.2%), Chemgenex (22.0%), Sirtex (17.6%), Uscom (15.0%), Bone (14.3%) and Tissue Therapies (14.3%).
Avexa has been left a shell with very early stage compounds and $23 million and will drop to the reserve lists, replaced in the Top 20 by Tissue Therapies and with Virax promoted to the Second 20.
Biotechs raised $27.3 million in May.
Biotech Daily Top 40 ($m) v S&P ASX 200 2009-‘10
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