November was another record month for the Biotech Daily Top 40 Index (BDI-40), even after moving Pro Medicus to the Big Caps, where it continued to improve.

In November, the BDI-40 (which does not include the four Big Caps of Cochlear, CSL, Pro Medicus and Resmed) was up 7.1 percent to a collective market capitalization of $21,930 million, the Big Caps added 3.65 percent to a collective market capitalization of $240,511 million and the ASX200 was up 3.4 points to 8,436 points. The Nasdaq Biotechnology Index slipped 0.1 percent to 4645 points.

For the 12 months to November 30, the reconstituted BDI-40 climbed 59.2 percent, the Big Caps were up 26.85 percent and the ASX200 rose 19.0 percent.

The first chart (below) is the BDI-40, adjusted for changes, and up 3.4 percent for the month to a collective market capitalization of $44,562 million – another monthly record.

The four Big Caps were led by Pro Medicus, up a further 27.4 percent. Cochlear climbed 8.6 percent, Resmed was up 4.0 percent and CSL slipped 0.6 percent.

The BDI-20 had many small falls and rises, with Telix leading the pack, up $955 million in the month or 13.6 percent to $7,960 million, followed by Mesoblast up $480 million or 31.85 percent to $1,987 million – in anticipation of its third application to the US regulator to approve Ryoncil for paediatric graft versus host disease, expected by January 7, 2025.

Twelve BDI-20 companies were up, with seven up by more than 10 percent; and eight companies fell with just two down by more than 10 percent. The smaller and more volatile Second 20 saw nine companies rise with eight up by more than 10 percent, while 11 fell, of which six were down by more than 10 percent.

Paradigm was November’s outstanding best, up $107 million or 146.6 percent in the month to $180 million, following last week’s US Food and Drug Administration approval for its phase III trial of PPS for knee osteoarthritis.

From a low base, Syntara was up 37.5 percent to $77 million, followed by Mesoblast (31.85%), Medadvisor (31.5%), Orthocell (31.1%), Resonance (23.8%), Avita (23.4%), Starpharma (23.1%), Cyclopharm (19.9%), Curvebeam (19.4%), Actinogen (16.9%), Alcidion (16.4%), Aroa (14.6%), Telix (13.6%) and SDI (12.0%).

Opthea led the falls - from last month’s high - down $191 million or 18.6 percent to $837 million, followed by Atomo (14.3%), Amplia (13.9%), Micro-X (13.5%), 4D Medical (13.3%), EBR (13.0%), Dimerix (12.6%) and Compumedics (12.5%).

The 11 companies in the restated Cannabis Corner were up a collective 9.65 percent from a low base to $284 million; with six up, led by Avecho up 116.7 percent to $13 million, three down, led by Little Green down 17.1 percent to $33 million, and one unchanged.

On the Nasdaq, Bionomics climbed 80 percent to $9 million, Kazia was up 29.6 percent to $35 million, but Eyepoint (Psivida), Incannex and Protagonist all fell.