Biotech Daily Market Report November 14, 2006
November 14th 2006 07:01
ASX UP, BIOTECHS EVEN:
CYGENICS UP 14%, STARPHARMA DOWN 10%
CYGENICS UP 14%, STARPHARMA DOWN 10%
THE MARKET
The Australian stock market climbed 0.3 percent on Tuesday November 14, 2006, with the All Ordinaries up 15.5 points to 5,405.4 points. Seventeen of the Biotech Daily Top 40 stocks were up, 17 stocks fell, three traded unchanged and three were untraded. Eleven of the Top 20 rose and eight fell, while six of the Second 20 rose and nine fell.
Cygenics was best, up 4.5 cents or 14.06 percent to 36.5 cents with 27,000 shares traded, followed by Prana up five cents or 11.9 percent to 47 cents on small volumes and Clinical Cell up 0.9 cents or 10.84 percent to 9.2 cents, with 2.3 million shares changing hands. Psivida recovered 7.41 percent to 29 cents, Chemgenex climbed 6.73 percent, Alchemia was up five percent, with Mesoblast up 4.74 percent. Avexa, Biosignal, Metabolic, Phylogica, Progen, Sirtex and Resmed all climbed by more than two percent, the last with 5.95 million shares changing hands. Ventracor was up 1.95 percent.
Starpharma led the falls as the market digested yesterday’s trial delay news (see Biotech Daily November 13, 2006), down 5.5 cents or 9.73 percent to 51 cents with 609,404 shares traded, followed by Bionomics down one cent or 4.55 percent to 21. Cytopia, Genetic technologies and Optiscan fell more than three percent; Clinuvel, Living Cell, Peplin and Tissue Therapies were down more than two percent; with Acrux, Evogenix, Neuren and Prima down more than one percent.
TODAY'S NEWS
* MESOBLAST STEM CELLS REPAIR SHEEP HEARTS
* ANTISENSE DRUG REDUCES CHOLESTEROL
* INCITIVE’S PINEAPPLE EXTRACT SUPPRESSES IMMUNE SYSTEMS
* IMUGENE EARNS POULTY VACCINE MILESTONE PAYMENT
* SUNSHINE HEART RECEIVES $13.8m
* DR SIMON FISHER LEAVES MEDICAL DEVELOPMENTS
* DON HOME JOINS TISSUE THERAPIES
* CORRECTION: VISIOMED RIGHTS ISSUE RAISES $3.5m
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