MAY TOP 40 DOWN 1.2%; HEARTWARE CLIMBS 39%
June 6th 2008 00:47
Biotech Daily
Monday June 2, 2008
Daily news on ASX-listed biotechnology companies
Monday June 2, 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 slipped again in May with the Biotech Daily Top 40 Index (BDI-40) falling 1.2 percent to $3,512 million compared to the All Ordinaries climb of 2.1 percent for the month.
The Biotech Daily Top 20 Index (BDI-20) fell 2.7 percent to $2,493 million, for the month, while the Second 20 climbed 2.7 percent to $1,019 million.
For the year to May 31, 2008 the BDI-40 was down 34.2 percent compared to the All Ordinaries’ 8.96 percent fall.
The three Big Caps of Cochlear, CSL and Resmed, which are not included in the BDI-40, fell a collective 1.7 percent for the month, although CSL edged up slightly to its new record high market capitalization of $21,906 million. Cochlear fell 4.4 percent to $3,014 million and Resmed fell 10.7 percent to $3,148 million.
For the year the Big Caps were up 21 percent, all due to CSL alone.
Eleven of the BDI-40 stocks were up, 24 fell with five unchanged for the month of May.
Heartware was best on the back of its $30 million capital raising, up 39.3 percent to a market capitalization of $124 million (see Biotech Daily May 23, 2008). The company was at $133 million in June 2007.
Psivida recovered $26 million or 35.6 percent to $99 million, followed by Universal Biosensors up 18.3 percent to $123 million, with Acrux up 13.6 percent to $150 million.
The deepest fall was Tissue Therapies from a low base and on small volumes down 40 percent from $5 million to $3 million following extensive regulatory delays to a Canadian trial. Last month’s 121 percent improvement champion Polartechnics retreated 34 percent from $53 million to $35 million.
Portland Orthopaedics fell 22.2 percent followed by Peplin (21.8%), Phosphagenics (21.7%), Agenix (19.0%), Cathrx (18.9%), Alchemia (18.8%), Neuren (15.4%) and Impedimed (15.3%).
Biotech Daily Top 40 ($m) v ASX All Ordinaries 2007-08
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