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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February BDI-40 Record High - Up 2%, ASX200 Up 0.2%, Big Caps Down 3.9%

Friday March 1, 2024

February was a volatile month for the Biotech Daily Top 40 Index (BDI-40) with 24 companies up, of which 16 were up by more than 10 percent; and 15 companies were down, with 10 falling more than 10 percent (see below).

The BDI-40 was up 2.4 percent for the month to a record collective market capitalization of $26,444 million, and up 40.0 percent for the year, while the benchmark ASX200 edged up just 0.2 percent in February and 6.1 percent for the year to February 29, 2024.

Similar to the ASX200, the Nasdaq Biotechnology Index (NBI) was up 1.0 percent for the month and 8.7 percent for the year.

The usually robust three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) fell 3.9 percent in February to a collective market capitalization of $200,436 million, down 1.6 percent for the year to February 29, 2024 (see charts below).

While Cochlear put on an impressive 15.0 percent in February to a market capitalization of $22,934 million, the three Big Caps were dragged down by the giant CSL falling 5.1 percent to $138,281 million and Resmed down 8.6 percent to $39,221 million. In January, the collective market capitalization was approaching the record high of $215,852 million on August 31, 2021.

But the deepest fall was the reconstituted 11-member Cannabis Corner, down 13.9 percent in February to a collective market capitalization of just $334 million, falling 42.0 percent for the year. The current incumbents are Auscann, Avecho, Bioxyne, Cann Group, Emyria, Epsilon, Inhalerx, Little Green Pharma, Neurotech, Vitura and Zelira.

Thirteen of the Top 20 companies were up, with seven up by more than 10 percent, while seven fell, with five down by more than 10 percent. The Second 20 had 11 companies up, with nine up by more than 10 percent, while eight fell, with five down by more than 10 percent.

Syntara (Pharmaxis) was the best, recovering $11 million or 68.75 percent to $27 million, followed by Percheron (Antisense) (52.9%), Opthea (34.6%), Cynata (32.0%), Clarity (23.7%), Imugene (22.5%), Atomo (20.0%), Polynovo (19.7%), Emvision (18.2%), Orthocell (17.1%), Genetic Signatures (15.5%), Actinogen (14.9%), SDI (13.8%), 4D Medical (13.5%), Paradigm (11.8%) and Mesoblast (11.5%).

Telix added most to the index, up $304 million or 8.2 percent.

Impedimed led the falls, down $55 million or 24.7 percent to $168 million, followed by Prescient (20.8%), Neuren (18.0%), Curvebeam (14.7%), Compumedics (13.4%), Alcidion (13.0%), Clinuvel and Universal Biosensors (12.8%), Starpharma (12.5%) and Nova Eye (10%).

On the Nasdaq, Incannex recovered 60.2 percent to $133 million, Bionomics was up $4 million or 33.3 percent to $16 million, Brisbane’s Protagonist climbed 22.7 percent to $2,696 million, with Eyepoint (formerly Psivida) up 2.1 percent to $2,045 million.

 

 

BDI-40 v S&P ASX200 Jun 30, 2006 to Feb 29, 2024

5-Year Big Caps (Cochlear, CSL, Resmed) to Feb 29, 2024

BDI-40 ($m) v S&P ASX200 – Jan 31, 2020 - Feb 29, 2024
(pre-Covid to date)

Biotech Daily Top 40 With Market Capitalization At Feb 29, 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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