Biotech Daily Market Report October 16, 2006
October 16th 2006 09:03
ASX, BIOTECHS UP:
METABOLIC HITS 88¢, CLOSES UP 15%
THE MARKET
The Australian stock market climbed 0.40 percent on Monday October 16, 2006, with the All Ordinaries up 22.5 points to 5,276.4 points. Seventeen of the Biotech Daily Top 40 stocks were up, 12 stocks fell, eight traded unchanged and two were untraded. Eleven of the Top 20 rose and six fell, while six of the Second 20 rose and six fell.
Metabolic was again best continuing last week climb, jumping 28.5 percent to 88 cents before closing up 10 cents or 14.6 percent at 78.5 cents with 3.7 million shares traded (see Biotech Daily October 5 and 13, 2006). Neuren was up three cents or 7.5 percent to 43 cents, followed by Agenix up one cnet or 7.14 percent to 15 cents. Living Cell and Ventracor were up five percent or more; Cellestis, Chemgenex and Clinical Cell climbed four eprcent or more; Progen climbed 3.0 percnet to $3.09; Avexa, Mesoblast, Peptech, Phosphagenics and Uscom were up more than two percent; with Novogen and Sirtex up by more than one percent.
Polartechnics led the falls, down 0.9 cents or 8.57 percent to 9.6 cents on modest volumes followed by Tissue Therapies down three cents or 6.98 percent to 40 cents and Prana down three cents or 5.45 percent to 52 cents. Acrux and Psivida fell more than four percent; Bionomics lost 3.03 percent; Biosignal and Portland were down more than two percent with Alchemia down 1.46 percent.
TODAY'S NEWS
*SUNSHINE HEART HARNESSES CARDIAC POWER FOR AORTA CUFF
* THIRD NEUREN DRUG REVERSES BRAIN IMPAIRMENT IN RATS
* CYTOPIA EXPANDS IND FOR ORAL TUMOR THERAPY TRIAL
* PEPTECH, BIOSCEPTRE DEVELOP TUMOR TEST
* 2 TRIALS BACK USCOM, 1 UNDECIDED
* VICTORIA BACKS STEM CELL RESEARCH
* CYGENICS FORMALLY LAUNCHES INDONESIAN CORD BLOOD BANK
* PRANA’S PROF COLIN MASTER’S WINS ALZHEIMER’S GONG
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