BDI-40 HOLDS 4-YEAR LEAD OVER ASX200 - COMPUMEDICS UP 26%, VIRAX DOWN 58%, IMMURON JOINS BDI-40
September 5th 2010 21:49
Biotech Daily
Wednesday September 1, 2010
Daily news on ASX-listed biotechnology companies
Wednesday September 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
The Biotech Daily Top 40 Index (BDI-40) has held its one-year and four-year lead over the ASX200, despite falling 3.4 percent in August compared to the ASX200 down 2.0 percent.
The limited good news is that despite easing over the past two months, for the 12 months to August 31, 2010, the BDI-40 was up 12.1 percent, the three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) were up 1.8 percent, while the S&P ASX200 fell 1.7 percent.
Over the four years to August 31, 2010, the BDI-40 was up 16.0 percent compared to Australia’s 200 largest companies falling 13.9 percent.
The Top 20 biotechnology companies were more even than the Second 20 in August, with seven companies up, 12 down and one untraded. The Second 20 saw just two companies rising with 15 falling and three unchanged. Cochlear, CSL and Resmed collectively fell 2.3 percent in August.
Compumedics was best, up 26.3 percent to a market capitalization of $24 million, followed by LBT Innovations, up 14.3 percent from a low base of $7 million to $8 million.
Virax led the falls, down 58.3 percent to $5 million on disappointing phase IIa results (BD: Aug 16, 2010), followed by Phylogica down 27.7 percent to $13 million in the wake of a $100 million licence deal, but having announced a capital raising at five cents when trading at 7.5 cents.
Bone Medical fell 25 percent to a market capitalization of $6 million, followed by Cathrx down21.9 percent to $25 million, Antisense (20%), Living Cell (18.5%).
Bone Medical has an FDA-approved phase III trial but needs to find funds and joins the Third 20. Immuron has trials supported by Israel’s Hadasit and its market capitalization has improved over the year - up 19.2 percent in August - and joins the Second 20.
Biotechs raised $17.5 million in August.
Biotech Daily Top 40 ($m) v S&P ASX 200 2009-‘10
Subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
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