Biotech Daily

Daily news on ASX-listed biotechnology companies

Biotech Daily covers the major announcements from more than 140 ASX-listed biotech companies as well as research institutes and developments in government policy.

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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May BDI-40 Record High - Up 7%, ASX200 Up 0.5%, Big Caps Down 1%

Monday June 1, 2024

 

The Biotech Daily Top 40 Index (BDI-40) continued its record-breaking run, up a further 7.2 percent in May to a collective market capitalization of $30,700 million, compared to the benchmark ASX200 up 0.5 percent to 7,702 points (see charts below).

For the year to May 31, 2024, the BDI-40 was up 51.6 percent and the ASX200 improved 8.6 percent.

The three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) slipped a further 0.8 percent in May to a collective market capitalization of $201,581 million. The record high was $215,852 million on August 31, 2021

CSL’s 0.6 percent rise to $134,499 million failed to compensate for Resmed’s 4.4 percent fall to $46,129 million and Cochlear down a further 1.6 percent to $20,953 million from its February record high.

The three Big Caps were down 4.7 percent for the year to May 31, 2024.

The BDI-40 had 19 companies up, with 10 up by more than 10 percent; and 21 down, with nine down by more than 10 percent.

Pro Medicus added a further $904 million to the index, up 7.8 percent to $12,538 million; while Telix improved $286 million or 5.6 percent to $5,259 million.

The other big radio-pharmaceutical company, Clarity, was May’s best, adding $710 million or 81.6 percent to $1,580 million.

From a much lower base, Amplia was up 58.3 percent to $19 million, followed by Cynata (57.9%), Dimerix (47.8%), Medadvisor (46.7%), Syntara (26.3%) Universal Biosensors (22.9%), Percheron (17.7%), Mesoblast (12.1%) and Avita (11.2%).

Imugene led the falls, down $147 million or 23.1 percent to $490 million, followed by Resonance (21.6%), Opthea (17.8%), Actinogen (17.0%), Next Science (15.6%), Prescient (14.3%), Emvision (13.4%), Nova Eye (12.5%) and Proteomics (11.2%).

Cannabis Corner lost a further 13.8 percent in May, down 46.4 percent for the year, with five companies down, led by Zelira losing 37.5 percent to a market capitalization of $5 million and six unchanged. The only marijuana company to improve was Emyria which has been more focused on MDMA, up $5 million or 26.3 percent to $24 million.

The Nasdaq Biotechnology Index (NBI) was up 5.7 percent in May, to 4,401 points, and up 8.1 percent for the year.

Three Australian companies that moved to the Nasdaq for “better valuations”: Bionomics, Incannex and Kazia, continued to fall in May, down 18.75 percent; 5.6 percent and 14.3 percent, respectively. Eyepoint (formerly Psivida) fell 40.9 percent to $837 million - a long way from its February $2 billion valuation. Brisbane’s Protagonist recovered 8.9 percent to $2,478 million and Redhill with Australian assets was up 4.8 percent to $22 million.

Outside the BDI-40, Argenica, Aroa, Arovella, Botanix, EBR, Imricor, Mach7, Neurotech, Optiscan, Race and Recce are all vying for promotion.

BDI-40 v S&P ASX200 Jun 30, 2006 to May 31, 2024

5-Year Big Caps (Cochlear, CSL, Resmed) to May 31, 2024

BDI-40 ($m) v S&P ASX200 – Jan 31, 2020 - May 31, 2024
(pre-Covid to date)

Biotech Daily Top 40 With Market Capitalization At May 31, 2024

Biotech Daily editor, David Langsam, owns shares in 4D Medical, Acrux, Actinogen, Alcidion, Alterity, Amplia, BTC Health, Clarity, Cochlear, Control Bionics, Cynata, Nanosonics, Neuren, Patrys, Polynovo, Syntara, Telix and Volpara, 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/

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