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August BDI-40 Down 1%, ASX 0.1%
Big Caps Up 2%, NBI 5%

Starpharma Up 37%, Osprey 18; Actinogen, Dimerix Down 27%

Sep 1, 2017

The Biotech Daily Top 40 Index fell 1.0 percent in August, which is surprising because 25 companies fell and just 11 were up. Most falls were small and some rises were significant.

 

Starpharma finally met its primary endpoint for bacterial vaginosis, lifting its market capitalization by $103 million, and with Nanosonics up $74 million, almost offset further retreats by Mesoblast down $133 million and Sirtex down $63 million (BD: Aug 7, 2017).

 

The ASX200 slipped 0.1 percent in August, the Nasdaq Biotechnology Index (NBI) improved 4.5 percent and the three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) climbed a collective 2.3 percent (see charts, below).

 

Cochlear was up 9.5 percent to $8,985 million, CSL was up 1.9 percent to $58,153 million, but Resmed eased a further 0.3 percent to $13,649 million.

 

In the 12 months to August 31, the BDI-40 fell 19.8 percent, the ASX200 was up 5.2 percent, the Big Caps climbed 15.3 percent, but the NBI was best, up 18.8 percent.

 

Starpharma was the shining light, up 36.7 percent to $384 million, followed by Osprey (18.0%), Viralytics (17.4%), Clinuvel (13.0%) and Nanosonics (10.5%).

 

From a low base, the day-traders’ delight, Dimerix, led the falls, down $6 million or 27.3 percent to $16 million, followed by Actinogen (27.0%), Atcor (20%), Mesoblast (17.5%), ITL (17.0%), Ellex (14.5%), Acrux (14.0%), Compumedics (13.75%), Benitec (10.7%) and Psivida (10.4%).

 

Outside the BDI-40, Resapp tumbled $162 million or 79.4 percent, but Mayne Pharma lost $444 million or 30.2 percent, and $1,731 million or 62.8 percent compared to August 31, 2016.

Phylogica showed signs of recovery with a licence from Roche’s Genentech (see report below), up more than 200 percent over the 12 months to August 31, 2017, to $98 million while the new listings of Epat and G Medical climbed nearly 100 percent in the month of August, alone.

 

The 12 companies that comprise Biotech Daily’s Cannabis Corner climbed about 12.9 percent to a collective market capitalization of about $553 million, but most of the ‘Dozen Dopey Yarns’ (JJ McRoach, AMP Publishing, 1979) were new listings with shares in escrow, not counted by the ASX and complicating the calculation.

 

We’ll get it right when the drugs wear off.

 

On the Nasdaq, Aviragen (formerly Biota) was up 14.8 percent to $31 million, Queensland’s Protagonist was up 35.0 percent to $347 million and Israel’s Redhill (with Australian assets) fell 11.9 percent to $185 million.

 

BDI-40 v S&P ASX200 Jun 30, 2006 to Aug 31, 2017 

 

BDI-40 v S&P ASX200 Aug 31, 2016 to Aug 31, 2017 

 

Big Caps (Cochlear, CSL, Resmed) Year To Aug 31, 2017