APRIL BDI-20 UP 9%; POLARTECHNICS RECOVERS 121%
May 1st 2008 12:14
Biotech Daily
Thursday May 1, 2008
Daily news on ASX-listed biotechnology companies
Thursday May 1, 2008
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
Biotechs made a general recovery in April with Polartechnics best up $29 million or 120.8 percent to a market capitalization of $53 million. The company was at $70 million in June 2007.
Novogen recovered $64 million or 65.3 percent in the month to $162 million, followed by Antisense up a further 40 percent to $42 million, with Psivida up 32.7 percent to $73 million and Mesoblast up 29.4 percent to $88 million.
Overall, 18 of the Biotech Daily Top 40 Index (BDI-40) stocks were up, with eight improving more than 10 percent, while 19 fell, of which six fell by more than 10 percent. The BDI-40 does not include the three Big Caps of CSL, Cochlear and Resmed (see below).
The deepest fall was Cathrx down 32.1 percent to $53 million, followed by Pharmaxis down $90 million or 22.1 percent to $317 million and Avexa down 15.7 percent to $118 million.
For the month of April, the Biotech Daily Top 20 Index (BDI-20) climbed 9.1 percent compared to the S&P ASX All Ordinaries index, up 4.6 percent for the month.
The Second 20 fell 6.9 percent, primarily due to last month’s reappraisal of the Top 40 which saw the $237 million Cellestis promoted to the Top 20. Overall the BDI-40 climbed 4.1 percent.
The three Big Caps of Cochlear, CSL and Resmed climbed 6.5 percent for the month, led by CSL up 7.4 percent to yet another record high of $21,900 million followed by Cochlear up 3.5 percent to $3,154 million and Resmed up 1.6 percent to $3,524 million.
For the 12 months to April 30, the BDI-40 lost 33.2 percent, compared to the All Ordinaries falling 8.1 percent. By comparison, the Big Caps climbed 22.0 percent, with all the gain due to CSL’s 37.1 percent increase in market capitalization.
Biotech Daily Top 40 ($m) v ASX All Ordinaries 2007-08
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