British poet TS Eliot wrote “April is the cruellest month” but he was unaware of Cochlear, CSL and the Australian biotechnology sector, despite his Boston antecedents.

Cochlear fell $4,912 million 44.4 percent to a market capitalization of $6,147 million in the last 10 days, down 65.8 percent for the year and its lowest valuation since April 30, 2016.

CSL lost $7,873 million or 11.5 percent in April to $60,359 million - its lowest market capitalization since August 31, 2017.

The four Big Caps fell to their lowest collective market capitalization since April 30, 2019, down a further 2.2 percent in April to $123,740 million.

Resmed looked almost respectable losing just 7.4 percent to $43,193 million, while Pro Medicus bucked the Big Caps trend and improved by $1,828 million or 15.0 percent to $14,041 million.

The Biotech Daily Top 40 Index (BDI-40) fell 2.2 percent to a market capitalization of $18,864 million; the benchmark ASX200 was up 2.2 percent to 8,666 points; and the Nasdaq Biotechnology Index (NBI) rose 0.9 percent to 5,863 points.

For the year to April 30, the ASX200 was up 6.6 percent, the NBI was up 37.6 percent, while the four Big Caps lost 43.1 percent and the BDI-40 fell 13.5 percent.

April was a very mixed month for the BDI-40, with more rises than falls. Twenty-two companies rose, with 10 up by more than 10 percent; while 18 fell, with 10 down by more than 10 percent, and six down by more than 20 percent.

Starpharma was April’s best, up $110 million or 55.8 percent to $307 million, followed by Actinogen (26.2%), Immutep (26.1%), Prescient (25.6%), Curvebeam (25.0%), Resonance (15%), Medical Developments (13.6%), Avita (13.3%), Emvision (12.2%), Orthocell (12.0%) and Telix (9.9%).

Last month’s 95.2 percent best, Amplia, fell $44 million or 36.4 percent to $77 million, followed by Paradigm (33.6%), Proteomics (29.1%), 4D Medical (25.8%), Dimerix (23.3%), Atomo (21.4%), Botanix (18.3%), Lumos (13.1%), Cyclopharm (11.65%) and Imugene (10.4%).

The 11 companies in Cannabis Corner edged up 1.6 percent to $321 million but were up 46.6 percent for the year. Four were up, four fell and three were unchanged.

Outside the BDI-40, Artrya was up 22.6 percent to $634 million – 795.0 percent above its $71 million market capitalization a year ago. Echo IQ climbed 3.2 percent to $618 million, or 218.6 percent higher than a year ago, with Avecho up 51.7 percent in April to $44 million (up 175 percent in 12 months) and Vitrafy up 30.8 percent to $140 million for the month.

On the Nasdaq, Sydney’s Kazia climbed 75.6 percent to $216 million, followed by Redhill with Australian assets (33.3%), Incannex (22.95%) and Neuphoria (Bionomics) (21.875%).