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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BDI-40 18-Year Record High - Up 847%; Big Caps Up 1,100%; ASX200 Up 53%

Monday July 1, 2024

The Biotech Daily Top 40 Index (BDI-40) continued its record-breaking run, up a further 9.9 percent in June to a collective market capitalization of $33,727 million, up 61.0 percent for the financial year and up 846.6 percent since inception 18 years ago.

The benchmark ASX200 was up 0.9 percent to 7,768 points in June, up 7.8 percent for the year and 53.1 percent for the 18-year comparison (see charts below).

Investors might wonder whether the ‘safety’ of blue-chip companies, chosen solely by market capitalization, is meaningful in any way. The BDI-40 was 15.9 times better than the ASX200 over 18 years.

The three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) improved 2.6 percent in June to a collective market capitalization of $206,742 million; and were up 4.6 for the year and 1,100.5 percent over the 18 years.

CSL’s 6.05 percent improvement to $142,637 million and Cochlear’s 1.95 percent rise to a new record of high of $21,362 million more than compensated Resmed’s further fall of 7.3 percent to $42,743 million. At June 30, 2006, Cochlear was $2,994 million, CSL was at $9,777 million and Resmed was $4,385 million. A cumulative 11-fold increase.

As august commentators and analysts say: “Don’t invest in biotech, it’s far too risky.”

In June, 18 of the BDI-40 companies were up, 11 by more than 10 percent; 22 fell with 14 down by more than 10 percent; with the BDI-20 leading the way.

Pro Medicus added $2,062 million to the June index, up 16.4 percent to $14,600 million, but Actinogen was the percentage best, up 127.4 percent to $166 million, followed by Compumedics (35.2%), Syntara (20.8%), Cyclopharm (18.1%), Telix (16.9%), Pro Medicus (16.4%), Emvision (14.3%), Medadvisor (13.6%), Opthea (13.0%), Genetic Signatures (12.5%) and Polynovo (10.9%).

Immutep led the falls, down $106 million or 19.8 percent to $429 million, followed by Imugene (19.4%), Alcidion (19.2%), Avita (18.65%), Starpharma (17.0%), Atomo (15.8%), Prescient (13.9%), Curvebeam (12.1%), Nova Eye (12.0%), 4D Medical (11.7%), Cynata (11.7%), Mesoblast (11.7%), Amplia (10.5%) and Resonance (10.3%).

Cannabis Corner lost a further 22.9 percent in June, down 61.8 percent for the year, to a collective $216 million; with eight companies down, four unchanged and none improved. Vitura was the worst for the month, down $27 million or 57.4 percent to $20 million - a long way (93.0%) from its $287 million market capitalization one year ago.

The Nasdaq Biotechnology Index (NBI) was up 3.3 percent in June, to 4,545 points, and up 11.5 percent for the year. While two of the three companies that went to the Nasdaq “for better valuations” recovered in June, for the year, Bionomics fell 42.3 percent, Incannex fell 58.1 percent and Kazia lost 72.2 percent.

Outside the BDI-40, Optiscan was the most notable - up 104.2 percent for the month to $196 million (292.0% for the year), following its May 13 news of a collaboration with the Mayo Clinic. The share price climbed from nine cents on May 9 to 23.5 cents on June 28. Honorable mentions to Arovella, Argenica, Botanix, Mach7, Race and Recce.

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

5-Year Big Caps (Cochlear, CSL, Resmed) to Jun 30, 2024

BDI-40 ($m) v S&P ASX200 – Jan 31, 2020 - Jun 30, 2024
(pre-Covid to date)

Biotech Daily Top 40 With Market Capitalization At June 30, 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 and Telix, 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: