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Biotech Daily covers the major announcements from more than 140 ASX-listed biotech companies as well as the major 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 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.

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Covid-19 Hits All March Indices:
 
ASX200 Down 21%, BDI-40 23%, Big Caps 5%

YTD: Big Caps Up 54%, BDI-40 Up 26%, ASX200 Down 18% 

 

April 1, 2020

As the Sars-Cov-2 virus spread across the planet, all investment indices were hit, but biotechnology was unexpectedly resilient.
 
It’s not just that some companies might benefit from the production of vaccines, drugs, tests, ventilators or other equipment, but the ability to continue work remotely, with internet orders and payments, along with the re-opening of manufacturing in China, has made March a very mixed month.
 
While the ASX200 fell to its lowest level since March 2016, falling 21.2 percent in the month and 17.9 percent for the year, the Biotech Daily Top-40 Index (BDI-40) fell to its lowest level in just 10 months, down 23.2 percent for the month, but up 25.8 percent for the 12 months to March 31, 2020.
 
The three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) pretty much shrugged off the Covid-19 pandemic, sliding 4.8 percent in March to a collective market capitalization of $182,223 million their lowest level since January and up 53.9 percent for the year to March 31, 2020.
 
In the US, the Nasdaq Biotechnology Index (NBI) lost 5.4 percent to 3,392 points, down 3.4 percent for the 12 months.
 
CSL shed $9,401 million or 6.5 percent in March to $134,707 million, its lowest market capitalization in all of 90 days and its third highest monthly market capitalization on record. Resmed was up one percent to $35,497 million, with Cochlear tumbling during the month on news that surgeries would be cancelled, then recovering on a 10 percent over-subscribed $880 million placement to lose just 0.5 percent in March to $12,019 million.
 
Just seven of the BDI-40 companies were up, 32 fell and one was unchanged.
 
Genetic Signatures was the best of the few, up 56.6 percent to $249 million on development of a test for Sars-Cov-2, the virus itself, while outside the BDI-40, Cellmid jumped 106.7 percent to $31 million on news that it would distribute a Chinese test for Covid-19 illness antibodies.
 
Alterity (Prana) was up 16.7 percent on what appeared to be unrelated trading, as were Dimerix (13.6%), Pharmaxis (9.1%), Oncosil (7.6%), Universal Biosensors (3.7%) and Cyclopharm (2.6%).
 
Outside the BDI-40, TBG jumped 883.3 percent prior to an announcement of Conformité Européenne (CE) mark approval for its Taiwan sister company’s Sars-Cov-2 test, but has been suspended “pending further enquiries by ASX”.
 
Allegra was up 50 percent to $15 million, followed by Resapp (22.4%), Respiri (7.9%) and Medadvisor (2.8%)
 
All the marijuana companies fell, except for Lifespot Health which claimed a fever tracking device and climbed 66.7 percent from $3 million to $5 million. The 20 companies collectively fell a further 24.2 percent to $578 million, down 62.3 percent in 12 months.
 

BDI-40 v S&P ASX200 Jun 30, 2006 to Mar 31, 2020 
 
 
3-Year Big Caps (Cochlear, CSL, Resmed) to Mar 31, 2020


BDI-40 ($m) v S&P ASX200 – Year to Mar 31, 2020 
(current, raw data)
 

  

 

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Biotech Daily Top 40 With Market Capitalization At Mar 31, 2020

 

* Biotech Daily editor, David Langsam, owns shares in Acrux, Alcidion, Alterity, Amplia, Cochlear, Cynata,
   Mesoblast; Nanosonics, Neuren, Patrys, Polynovo, 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: http://www.australianethical.com.au/who-we-invest-in