Biotech Daily Market Report October 6, 2006
October 6th 2006 07:29
ASX, BIOTECHS EVEN:
METABOLIC UP 15%, PHYLOGICA DOWN 13%
METABOLIC UP 15%, PHYLOGICA DOWN 13%
THE MARKET
The Australian stock market edged up 0.1 percent on Friday October 6, 2006, with the All Ordinaries up 3.5 points to 5,178.3 points. Fourteen of the Biotech Daily Top 40 stocks were up, 15 stocks fell, seven traded unchanged and four were untraded. Eight of the Top 20 rose and nine fell, while six of the Second 20 rose and six fell.
Metabolic was best following yesterday’s trial progress (see Biotech Daily October 5, 2006) up seven cents or 15.22 percent to 53 cents with 700,510 shares traded, followed by Cogstate up 1.5 cents or 6.67 percent to 24 cents and Optiscan up three cents or 6.38 percent to 50 cents. Cellestis climbed 5.26 percent to $3.00; Pharmaxis was up 4.76 percent; Neuren, Peptech and Proteome climbed more than three percent; Avexa and Biosignal were up more than two percent; with Phosphagenics and Psivida up more than one percent.
Phylogica led the falls, down five cents or 12.82 percent to 34 cents followed by Prana down 3.5 cents or 7.07 percent to 46 cents, Evogenix down three cent or 6.25 percent to 45 cents, Novogen down 15 cents or 5.08 percent to $2.80 and Tissue Therapies losing 4.55 percent. Agenix, Bionomics, Chemgenex, Prima and Starpharma fell more than three percent; Clinical Cell lost 2.11 percent; with Acrux, Alchemia and Progen down more than one percent.
TODAY'S NEWS
* UK APPROVES PHARMAXIS PHASE III CYSTIC FIBROSIS TRIAL
* $3.5m ACQUISITION BREATHES LIFE INTO VISIOMED
* DR BRUCE GRAY SIRTEX MEETING AJOURNED TO AGM
* DIRECTORS BACK DR OPARA’S AVANTOGEN TAKEOVER
* BIO-MELBOURNE US INTELLECTUAL PROPERTY BREAKFAST
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