NOVEMBER BDI-40 FALLS 6.4%; BDI-20 UP 14% FOR YEAR
December 6th 2007 00:20
Biotech Daily
Monday December 3, 2007
Daily news on ASX-listed biotechnology companies
Monday December 3, 2007
Daily news on ASX-listed biotechnology companies
* ASX UP, BIOTECHS DOWN: CELLESTIS UP 10%, PROGEN DOWN 7%
* FDA APPROVES CYTOPIA CYT997 PHASE II MULTIPLE MYELOMA TRIAL
* STARPHARMA COLLABORATES WITH STIEFEL
* FDA ALCON APPROVAL EARNS $1m FOR ADVANCED OCULAR
* NARHEX CAVIDI TO SUPPLY TESTS TO CLINTON AIDS FOUNDATION
* DOYEN OF AUSTRALIAN BIOTECH LEON SERRY RETIRES
* VENTRACOR SAYS RIVAL’S FDA APPROVAL GOOD FOR INDUSTRY
* PRANA ADDS 30c CHARGE TO 2.4m ‘FREE’ DIRECTOR OPTIONS
* IMUGENE 1-FOR-10 RIGHTS ISSUE TO RAISE $1.8m
* VIRALYTICS OFFERS 8c SHARE PLANE
* IM MEDICAL TO APPOINT DIRECTORS; CEO BUYS 10m SHARES
THE MARKET
Thirteen of the Biotech Daily Top 40 stocks were up, 19 stocks fell and eight traded unchanged.
Cellestis was best, up 25 cents or 10.0 percent to $2.75, followed by Phylogica up 1.5 cents or 7.32 percent to 22 cents and Bionomics up 5.26 percent to 40 cents.
Progen led the falls, down 6.77 percent to $2.48, followed by Chemgenex, Circadian, Prana and Stem Cell all down more than six percent.
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BIOTECH DAILY’S TOP 40
November was a truly ordinary month for biotechs with most of the Biotech Daily Top 40 Index (BDI-40) stocks falling.
For the first time this year the Biotech Daily Top 40 Index (BDI-40) underperformed the All Ordinaries in both the past month and for the past 12 months.
The All Ordinaries fell 2.7 percent in the month to November 30 while the BDI-40 fell 6.4 percent for the month.
Even CSL had a bad month, losing nearly $1 billion for the month. The three Big Caps of CSL Cochlear and Resmed are separate from the Top 40.
The All Ordinaries climbed 16.8 percent for the year to November 30, with the BDI-20 up 14.2 percent for the same period, but the Second 20 lost 3.7 percent over the 12 months, much of it due to falls from high bases by Genetic Technologies, Metabolic and Cellestis. The total BDI-40 climbed 9.1 percent for the year to November 30.
Recoveries by Cochlear (up 10.0%) and Resmed (up 14.9%) pushed the three Big Caps up 0.09 percent for the month and 45.5 percent for the year.
In the month to November 30, just nine of the Biotech Daily Top 40 companies increased in market capitalization, 30 fell and one, Proteome, was unchanged.
Stem Cell Sciences was the best on small volumes, recovering $5 million or 26.3 percent to $24 million, followed by Polartechnics up $10 million or 19.2 percent to $62 million.
Peplin led the falls down $57 million or 30.0 percent to $133 million, with Optiscan down $12 million or 28.6 percent to $30 million. Other significant falls included Neuren (23%), Avexa (22%), Metabolic (17.6%), Novogen (17.3%) and Cellestis (16.4%).
Outside the Top 40, Biosignal jumped 66.7 percent from $12 million to $20 million, Viralytics climbed $6 million or 40 percent to $21 million and Fermiscan was up 22 percent to $72 million.
The Biotech Daily Top 40 will be reviewed over the summer break with several significant changes expected.
Biotech Daily Top 40 ($m) v ASX All Ordinaries 2006-07
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