APRIL BDI-40 UP 6.2%, 66% FOR YEAR; ASX200 FLATLINES - GENETIC TECH UP 75%
May 29th 2011 09:16
Link: www.biotechdaily.com.au
Biotech Daily
Monday May 2, 2011
Daily news on ASX-listed biotechnology companies
Monday May 2, 2011
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) continued its high tech rise, up 6.2 percent in April compared to the S&P ASX200 continuing its flat-line trajectory down 0.3 percent.
Heartware’s $229 million fall balanced Mesoblast’s $257 million improvement demonstrating that the BDI-40’s strength was across the board with 25 companies up, 11 down and four unchanged. Ten companies rose by more than 20 percent, while the worst fall was Tissue Therapies, down 21.4%.
For the 12 months to April 30, the BDI-40 (which does not include the three Big Caps of Cochlear CSL and Resmed) climbed 66.4 percent, again requiring the addition of another 1,000 points to the chart’s y-axis, while the ASX200 was up just 0.33 percent for the year.
Despite record revenue and profits at Cochlear and Resmed, the Big Caps fell 3.4 percent in April with both Cochlear and CSL down and Resmed up 1.4 percent to $4,527 million.
Genetic Technologies was the best for the month, with a steady flow of good news including the close of patent protection proceedings with licences and the US regulatory approval of its Brevagen breast cancer test, up 75.0 percent to a market capitalization of $63 million.
Living Cell was up 54.2 percent from a low base to $37 million, followed by Phosphagenics up 30.8 percent, Prima (29.8%), Patrys (27.6%), QRX (25.6%), Viralytics (24.0%), Sunshine Heart (23.3%), Cellmid (22.2%) and Universal Biosensors (20.2%).
Tissue Therapies had the deepest fall, down 21.4 percent to $77 million - still more than double its size a year ago - followed by Heartware down 19.4 percent on news of adverse events, followed by Antisense (16.7%), Benitec (16.7%) and Uscom (13.3%).
Biotech companies raised $35.5 million in April.
BDI-40 v ASX200 Jul 1, 2006 to Apr 30, 2011
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