Biotech Daily Market Report October 18, 2006
October 18th 2006 08:05
ASX UP, BIOTECHS EVEN:
CYGENICS UP 14%, METABOLIC UP 11%
CYGENICS UP 14%, METABOLIC UP 11%
THE MARKET
The Australian stock market climbed 0.6 percent on Wednesday October 18, 2006, with the All Ordinaries up 30.4 points to 5,282.1 points. Fourteen of the Biotech Daily Top 40 stocks were up, 13 stocks fell, eight traded unchanged and five were untraded. Seven of the Top 20 rose and nine fell, while seven of the Second 20 rose and four fell.
Cygenics was best up 4.5 cents or 14.06 percent to 36.5 cents with 78,900 shares traded, followed by Metabolic (see Biotech Daily October 17) which recovered most of yesterday’s loss, climbing 7.5 cents or 11.19 percent to 74.5 cents with 1.3 million shares traded. Tissue Therapies climbed four cents or 9.09 percent to 48 cents followed by Genetic Technologies and Mesoblast up more than five percent, Portland up 4.62 percent and Bionomics up 3.13 percent. Alchemia, Optiscan and Progen climbed by more than two percent, while Neuren and Peplin were up more than one percent.
Prana led the falls, down four cents or 8.0 percent to 46 cents on modest volumes followed by Agenix down one cent or 6.67 percent to 14 cents; Living Cell down 4.55 percent; Pharmaxis and Starpharma down more than three percent; Novogen and Uscom down more than two percent; with Chemgenex, Peptech, Phosphagenics and Psivida down by more than one percent.
TODAY'S NEWS
* GENETIC TECHNO’S IMMUNAID PROJECT IDENTIFIES IMMUNE ‘CYCLE’
* GIACONDA SUCCEEDS IN PHASE II BOWEL PREPARATION TRIAL
* US PATENT FOR MESOBLAST’S ADULT STEM CELLS
* $25m RIGHTS FOR CSL’S DR BRIAN MCNAMEE, TONY CIPA
* IM MEDICAL’S INTELLIPLAN TESTS TREBLE
* BIOTECHNOLOGY RESEARCHERS WIN $18,000 VICTORIA FELLOWSHIPS
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