GREY SEPTEMBER: SUNSHINE HEART UP 80%, BENITEC DOWN 44%
October 2nd 2008 12:24
Biotech Daily
Wednesday October 1, 2008
Daily news on ASX-listed biotechnology companies
Wednesday October 1, 2008
Daily news on ASX-listed biotechnology companies
Subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
BIOTECH DAILY’S TOP 40 INDEX
The day after a global stock market write-down is perhaps not the best timing for Biotech Daily’s monthly comparison of the biotech sector against the All Ordinaries, especially as most of yesterday’s Australian fall was recovered today.
For the first time in three years, CSL has fallen – by $2 billion or 8.5 percent - dragging down the Big Caps, despite rises by Cochlear (7.8%) and Resmed (0.2%).
Nine of the Biotech Daily Top 40 Index (BDI-40) companies were up for the month to September 30, 2008, with 29 falling and two –Impedimed and Viralytics – unchanged.
The Top 40 does not include the three Big Caps.
Three Biotech Daily Top 20 Index (BDI-20) companies climbed against the trend with Starpharma the best, up 11.4 percent to a market capitalization of $49 million followed by Heartware up 3.2 percent to $192 million and Pharmaxis up 1.9 percent to $438 million.
But the biggest gain was Sunshine Heart leaping 80 percent to $27 million, its highest value since March 2008.
Stem Cell Sciences was up 33.3 percent on small volumes and from a low base, Progen recovered 10 percent, followed by last month’s worst performer, Polartechnics up 4.5 percent, Bone Medical (4.3%), and Prana (2.4%).
The BDI-20 fell 13.5 percent in September - in line with the All Ordinaries down 11.2 percent. The Biotech Daily Second 20 Index fell 7.1 percent for September giving the BDI-40 an average 12.1 fall for the month.
For the year to September 30, the All Ordinaries fell 29.6 percent and the BDI-20 lost 38.4 percent, but the Big Caps were up 7.75 percent for the year.
Benitec was the worst performer down 44.0 percent to $14 million followed by Avexa down 42.4 percent to $68 million as the job of finding a partner or alternative funding clashes with the cost of continuing its phase III trial of apricitabine for HIV.
Both Phylogica and Psivida fell 36.4 percent and Proteome lost 32 percent, followed down by seven companies falling by more than 20 percent: Alchemia, Arana, Chemgenex, Living Cell, Novogen, Antisense and Clinuvel.
Biotech Daily Top 40 ($m) v ASX All Ordinaries 2007-08
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Monthly Index Update
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