BIOTECH DAILY JANUARY TOP 40 INDEX: LIFE SIGNS RETURN TO LIFE SCIENCES
February 3rd 2009 11:22
Biotech Daily
Monday February 2, 2009
Daily news on ASX-listed biotechnology companies
Monday February 2, 2009
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
Biotech stocks improved in January with the Biotech Daily Top 40 Index (BDI-40) up 4.2 percent compared with the S&P ASX 200 fall of 4.9 percent for the month.
The three Big Caps (which are not included in the BDI-40) were even better, up 8.5 percent for the month and 7.2 percent for the year to the end of January, with all three, Cochlear, CSL and Resmed contributing to the gain.
Statistically, the BDI-20, also fared very well, up 7.3 percent for the month, but this includes the new year changes to the constituent companies. For the year to the end of January the S&P ASX 200 fell 37.3 percent while the BDI-20 notionally outperformed it by falling 34.8 percent. The BDI-40 fell 43.1 percent.
Nineteen of the Top 40 companies climbed in January, 17 fell and four were unchanged.
Peplin led the charge, increasing its market capitalization from $59 million by 71.2 percent to $101 million, its highest value since March 2008 (BD Dec 17, 2008). From a much lower base, Ventracor recovered $9 million or 45 percent to a market capitalization of $29 million, followed by Phylogica and Tyrian both up 42.9 percent to $10 million; Sunshine Heart (33.3%), Biota (32.8%), Phosphagenics (29.4%), Pharmaxis (19.6%), Sirtex (17.0%) and Acrux all indicating it might be safe to go back into the better biotechs.
Outside the Top 40, Tissue Therapies jumped 175 percent to $11 million, its highest market capitalization since January 2008, Uscom climbed 65 percent to $28 million its best since January 2007 and Cogstate hit $16 million, its highest value since listing.
Most falls were less than 10 percent with the steepest a 40 percent drop in the value of Cytopia from $15 million to $9 million, for no particular reason and preceding the company’s bid for Progen’s cash (BD Jan 28, 2009). Polartechnics retreated 28.6 percent from the previous month’s sales-driven $42 million highpoint to $30 million followed by Impedimed (20%); Mesoblast (19.8%); and Labtech (16.7%). Outside the Top 40 the most significant fall was Solagran, which dropped as low as 14.5 cents a share and a market capitalization of $27 million, its lowest since January 2007, having been as high as $156 million in January 2008.
Biotech Daily Top 40 ($m) v ASX All Ordinaries 2008-‘09
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