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Biotech Daily covers the major announcements from ASX-listed biotech companies as well as developments in government policy and regulation. Published shortly after the stock market closes five days a week - excluding public holidays - Biotech Daily is the only comprehensive daily source of information on the listed biotech sector. The Biotech Daily Top 40 Index (BDI-40) is selected on the basis of interesting technologies, benefit to human health and investment potential. Market capitalization is important, but is not a sole arbiter. Subscriptions are $A640 a year (including GST in Australia) and a 10% discount is available for members of AusBiotech and the Bio-Melbourne Network. Subscribers include biotech CEOs and CFOs, investment houses, market analysts, retail investors, doctors, medical specialists and hospital management. |
While the first golden wattle of late winter does not guarantee an endless summer and Biotech Daily is reluctant to say that three consecutive months of beating the All Ordinaries, culminating in a 14.3% to 3.2% uplift, is the end of our collective miseries, it does look like we have turned the credit crunch corner and are leading the ASX. The Big Caps 29.4% August recovery takes it to its highest market capitalization on record with solid performances buy all three constituents: Cochlear up 24.9%; CSL up 28.9% and Resmed up 35.8%. The Biotech Daily Top 20 Index (BDI-20) - which does not include the three Big Caps - has outperformed the All Ordinaries for three consecutive months, ending August 14.3 percent higher compared to the All Ordinaries up 3.2 percent for the month. For the three months to August 31, the All Ordinaries fell 9.6 percent but the BDI-20 was up 4.9 percent. Ten of the BDI-20 stocks were up with six of those up by more than 10 percent, while nine fell with just three falling by more than 10 percent. The best performer was Novogen, recovering 54.4 percent in the month to a market capitalization of $159 million followed by Peplin (46.6%), Benitec (38.9%), Pharmaxis (33.1%) and Heartware (22.4%). Polartechnics was the worst performer down 24.1 percent to $22 million followed by Agenix (22.2%) and Phylogica (21.4%).
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* Biotech Daily editor, David Langsam, owns shares in Alchemia, Biota, Chemgenex and Stem Cell Sciences as well as non-biotechnology stocks. These are liable to change at any time.