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October BDI-40 Down 16%, ASX200 Down 6%
Big Caps Down 7%, NBI Down 15%

 Volpara Up 52%, Medical Developments 15%; Bionomics Down 86%

November 1, 2018

Following an exceptional September, the October Biotech Daily Top 40 Index (BDI-40) followed the US markets and the ASX down, losing all the previous month’s gains.

 

Apart from ill-informed funds and punters selling into, and exacerbating, a falling market, Bionomics shed $415 million from its market capitalization on the failure of BNC210 to show efficacy for post-traumatic stress disorder, having climbed $249 million or 106.4 in the lead-up to the results.

 

It was a perfect example of “buy on rumor and sell on fact”.

 

But there were other major falls, with Pro Medicus losing $346 million, Clinuvel retreating $288 million and Nanosonics shedding $177 million.

 

Twenty-eight of the BDI-40 companies fell, with just seven up and five unchanged.

 

Volpara was the best of the October seven, up $84 million or 52.2 percent to $245 million. Medical Developments recovered 15.3 percent to $316 million, followed by Prescient (11.7%), Opthea (10.7%), Telix (7.9%), Prana (4.3%) and Neuren (2.4%).

 

Bionomics led the falls, down $415 million or 85.9 percent to $68 million, followed by Airxpanders (39.3%), Osprey (28.9%), Clinuvel (27.3%), Pro Medicus (26.8%), Genetic Signatures (22.4%), Compumedics (20.0%), Cynata (18.3%), Orthocell (16.7%), Nanosonics (16.4%), Impedimed (11.6%), Pharmaxis (11.5%), Avita (11.3%), Immutep (11.3%), and Optiscan (11.1%).

 

The collective three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) fell for the second month in a row, down 7.0 percent in October to its lowest level since May 31, but still up 31.8 percent for the year.

 

CSL retreated 6.5 percent to $85,156 million, Cochlear fell 11.4 percent to $10,249 million, with Resmed down 6.9 percent to $21,089 million.

 

Outside the BDI-40, Biotron jumped 252.4 percent for the month and 640 percent for the year to $74 million on positive HIV trial news, with Antisense, Oventus and Resonance all backing the downward trend.

 

The 15 companies in Cannabis Corner fell 8.9 percent to the lowest level since December 31, 2017. Four companies were up, eight were down and three were unchanged.

 

The Nasdaq Biotechnology Index fell 14.6 percent in October, but like the BDI-40, was virtually unchanged compared to October 31, 2017.

 

Eyepoint (Psivida) fell 38.9 percent to $225 million, Protagonist shed 9.9 percent to $272 million and Redhill was down 8.5 percent to $238 million, while Vaxart (Biota) was up $7.1 percent to $30 million.

 

Avita will replace Bionomics in the BDI-20, with Bionomics moving to the Second 20.

 

BDI-40 v S&P ASX200 Jun 30, 2006 to Oct 31, 2018 

 

Big Caps (Cochlear, CSL, Resmed) Oct 31, 2015 To Oct 31, 2018