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 biotechnology 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.
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The BDI-40 ended the year 11.3 percent below the value of the 40 companies at December 31, 2024 at $20,736 million – up just 0.01 percent in December 2025.
The ASX200 was up 6.8 percent for the year and 1.2 percent for the month of December to 8,714 points, the Nasdaq Biotechnology Index (NBI) fell 1.9 percent in December to 5,707 points, up 32.4 percent for the 12 months.
The collective market capitalization of the four Big Caps of Cochlear, CSL, Pro Medicus and Resmed (which are not included in the BDI-40) tumbled 25.1 percent in 2025 to $176,275 million – down 9.1 percent in December.
Pro Medicus led the Big Cap December falls, down 17.2 percent to $23,083 million, followed by Resmed down 8.7 percent to $52,384 million, CSL (at its lowest market capitalization since December 1, 2018) lost 7.3 percent in December to $83,761 million with Cochlear down 7.0 percent to $17,047 million.
Surprisingly, despite collectively treading water for the month, 25 of the Biotech Daily Top 40 Index (BDI-40) companies were up in December 2025, 12 by more than 10 percent; while 14 fell, of which just six were down by more than 10 percent. One was unchanged.
4D Medical’s meteoric $1,182 million or 134.0 percent rise to $2,064 in December almost compensated for Telix’s $1,388 million or 26.8 percent tumble to $3,794 million.
4D Medical was also the BDI-40’s best for the year to December 31, up $1,866 million or 957.6 percent to $2,064 million, followed by Lumos up 761.5 percent to $224 million, Starpharma (228.3%), Actinogen (148.7%), Atomo (141.7%), Amplia and Prescient (120.0%), Alcidion (74.1%), Dimerix (73.7%), Neuren (47.1%) and Nanosonics (31.7%).
Telix had the greatest numerical loss, down $4,444 million over the year, but the deepest percentage fall was Adheris-Medadvisor losing $111 million or 89.5 percent to $13 million, followed by Avita (71.4%), Botanix, 66.4%) Imugene 57.8%), Syntara (54.8%), Telix, (53.9%), Polynovo (39.7%), and Impedimed (34.3%).
The 11 companies in Cannabis Corner rose 8.3 percent in December, up 11.8 percent for the year to a cumulative market capitalization of $313 million.
On the Nasdaq, Eyepoint (Psivida) was up 175.8 percent for the year to $2,267 million, followed by Queensland’s Protagonist up 120.1 percent to $8,182 million, with Incannex up 210 percent to $186 million.
Biotech Daily editor, David Langsam, owns shares in 4D Medical, Acrux, Actinogen, Alcidion, Amplia, Clarity, Cochlear, Control Bionics, EBR, Nanosonics, Neuren, Patrys, Percheron, Polynovo and Telix, as well as non-biotechnology stocks.
Through Australian Ethical Superannuation he has an indirect interest in a range of biotechnology companies.
These holdings are liable to change:
https://www.australianethical.com.au/personal/ethical-investing/companies-we-invest-in/