Biotech Daily Market Report October 9, 2006
October 9th 2006 07:38
ASX, BIOTECHS DOWN:
PRANA UP 6.5%; EVOGENIX, AVEXA DOWN 6.67%
PRANA UP 6.5%; EVOGENIX, AVEXA DOWN 6.67%
THE MARKET
The Australian stock market fell 0.30 percent on Monday October 9, 2006, with the All Ordinaries down 15.6 points to 5,162.7 points. Thirteen of the Biotech Daily Top 40 stocks were up, 14 stocks fell, nine traded unchanged and four were untraded. Seven of the Top 20 rose and nine fell, while six of the Second 20 rose and five fell.
While Resmed had the greatest value turnover with 2.1 million shares traded, closing down nine cents or 1.65 percent to $5.38, Metabolic spent the day up as high as 60 cents with more than 2.5 million shares changing hands until 4pm. At the close, Metabolic fell 2.5 cents in what appeared to be one trade, just before ending the day down half a cent at 52.5 cents. On Thursday October 5 Metabolic released news of its obesity drug dosing trial (See Biotech Daily October 5).
Prana was best, up three cents or 6.52 percent to 49 cents on modest volumes, followed by Living Cell, Optiscan and Portland up four percent or more. Bionomics, Cellestis and Chemgenex climbed three percent or more; Mesoblast was up 2.42 percent; with Novogen, Peptech, Portland and Progen up more than one percent.
Evogenix led the falls, down three cents or 6.67 percent to 42 cents along with Avexa down 1.5 cents or 6.67 percent to 21 cents. Alchemia, Clinical Cell, Neuren and Proteome fell more than three percent; Biosignal and Biota fell more than two percent; with Acrux, Cochlear, Genetic Technologies, Phosphagenics and Resmed down more than one percent.
TODAY'S NEWS
* METABOLIC UP ALL DAY, CLOSES DOWN ½¢
* MEDICAL DEVELOPMENTS BUYS FDA LICENCE
* PEPLIN IN TENANCY DISPUTE
* VIRAX CFO RICHARD DE LAUTOUR RESIGNS
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