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July BDI-40 Up 4%, ASX200 Up 1%
Big Caps Up 2%, NBI Up 6%

 Benitec Up 54%, Actinogen 42%, Mesoblast 30%; Admedus Down 28%

August 1, 2018

July was good to Australian biotech companies, with the Biotech Daily Top 40 Index (BDI-40) up 4.4 percent to a record $8,844 million market capitalization, compared to the S&P ASX200 up 1.4 percent (see charts below).

 

The strong rises heavily outnumbered the falls with 26 companies up, of which 14 improved more than 10 percent, with 11 falls, of which just three were down by more than 10 percent.

 

The deepest fall was Medical Developments losing $69 million on bad news from the FDA, which was more than offset by Mesoblast up $208 million on a modest $54 million China deal for its stem cells for cardiac indications and Starpharma up $68 million to rejoin the $500 million club, again.

 

In percentage terms, the BDI-40 July best was Benitec, recovering from a low base, up 54.3 percent to $54 million, followed by Actinogen (42.2%), Mesoblast (29.6%), Osprey (29.4%), Reva (24.7%), Ellex (21.6%), Factor (17.9%), Avita (17.0%), Starpharma (15.7%) Universal Biosensors (14.6%), LBT (13.0%), Clinuvel (12.1%), Compumedics (12.1%) and Airxpanders (11.5%).

 

Admedus led the falls, on good revenue but not much of a runway, down 27.7 percent to $47 million followed by Medical Developments (19.8%) and Bionomics (10.5%).

 

Despite a 0.07 percent Resmed fall to $20,110 million, the three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) again ventured into record territory, up a collective 1.7 percent, with CSL up 2.1 percent to $88,947 and Cochlear up 1.6 percent to $11,703 million.

 

For the year to July 31, 2018 the Big Caps were up 52.9 percent, the BDI-40 rose 31.9 percent, with the Nasdaq Biotechnology Index (NBI) and the ASX200 both up 9.8 percent.

 

In July, the NBI climbed 6.2 percent, with the remnants of Biota in Vaxart up 3.4 percent to $30 million on the Nasdaq, Queensland’s Protagonist up 3.1 percent to $198 million and Redhill down 11.4 percent to $218 million.

 

Outside the BDI-40, Paradigm climbed 40 percent to $112 million, up 489.5 percent for the year; Probiotec rose 31.0 percent to $93 million, 287.5 percent for the 12 months; with Regeneus up 70.8 percent for both the month and year.

 

But all were eclipsed by Invion up a further 20.3 percent to $225 million in July or a modest 7,400 percent for the year.

 

While the rest of the biotechnology sector is up, the 16 companies in Cannabis Corner are coming down from their high, having fallen for three months in a row and down a collective 25.3 percent from the January 31, 2018 all-time glow of $1,700 million to $1,270 million at July 31, 2018. 

 

 

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

 

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