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January BDI-40 Up 10%, ASX200 Up 4%
Big Caps Up 1%, NBI Up 13%

 Avita Up 88%, Antisense 70%; Patrys Down 17%, Compumedics 16%

February 1, 2019

Summer shone on biotech following a particularly cold Winter and Spring, with the Biotech Daily Top 40 Index (BDI-40) up 9.9 percent in January compared to the ASX200 up 3.9 percent. (See charts below.)

 

For the year to January 31, the BDI-40 fell 11.9 percent, the ASX200 lost 2.9 percent, the Nasdaq Biotechnology Index (NBI) shed 3.9 percent, but the Big Caps were up 25.5 percent.

 

The collective three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) were up 1.2 percent for the month, with Cochlear up 11.4 percent to $11,163 million, CSL up 5.2 percent to $88,201 million, but Resmed retreating 17.9 percent to $18,624 million, following its half-year report.

 

Twenty-three of the BDI-40 stocks were up, 14 by more than 10 percent and seven by more than 20 percent, while 14 fell with seven losing more than 10 percent.

 

Clinuvel and Nanosonics returned to the BDI-40 Billion Dollar Club, with Pro Medicus up a further 11.4 percent to $1,255 million.

 

Avita was January’s best, up $118 million or 88.1 percent to $252 million, followed by Antisense (70.0%), Reva (40.3%), Opthea (31.7%), Prana (27.8%), Kazia (26.1%), Actinogen (20.0%), Clinuvel (19.3%), Impedimed (18.1%), Nanosonics (17.6%), Polynovo (14.5%), Paradigm (14.3%), Pro Medicus (11.4%) AND Cynata (10.8%).

 

Patrys led the falls, down $5 million or 17.2 percent to $24 million, followed by Compumedics (15.5%), Uscom (15.0%), Orthocell (14.3%), Medical Developments (14.2%), Ellex (13.1%), LBT (11.1%) and Starpharma (9.3%).

 

Outside the Top 40, Cardiex and Resonance were at their peak market capitalization for a year or more, up 255.5 percent to $32 million and 222.2 percent to $29 million, respectively, with Elixinol Global finally announcing medical uses for its marijuana (along with strong revenue for its hemp seed food additives and other non-medical products), up 19.9 percent to $373 million.

 

Unfortunately, there are a number of companies whose market capitalization over the past year indicate that they might want to consider different technologies or perhaps changes to their boards and/or management.

 

Elixinol provided half of the total increase for the 15 stocks in Cannabis Corner which were up a collective $122 million or 10.4 percent to $1,298 million, the highest high in four months.

 

In the US, the NBI was up 13.4 percent in January, with Israel’s Redhill (developing three Australian assets) up 61.2 percent to $324 million, Brisbane’s Protagonist was up 21.6 percent to $281 million, Eyepoint (formerly Psivida) improved 13.0 percent to $287 million and Vaxart (formerly Aviragen and Melbourne’s Biota) languished at $20 million, up 5.2 percent.

 

BDI-40 v S&P ASX200 Jun 30, 2006 to Jan 31, 2019 

 

Big Caps (Cochlear, CSL, Resmed) Jan 31, 2016 To Jan 31, 2019