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September BDI-40 Up 0.5%, ASX200 Up 1%,
Big Caps Down 1.4%, NBI Down 3% 

 Paradigm Up 80%, Antisense 57%, Kazia 46%, Mesoblast 46%;
Pro Medicus Down 25%, Amplia 20%, Cyclopharm 15%, Compumedics 15%

 

October 1, 2019

The Biotech Daily Top 40 Index (BDI-40) consolidated its gains in September, up a further 0.5 percent compared to the ASX200 up 1.3 percent. The BDI-40 was up 65.8 percent for the 12 months to September 30, 2019, compared to the ASX200 up 7.7 percent.

 

Avita has joined - and Mesoblast rejoins - the BDI-20 Billion Dollar Club, which now boasts six companies worth more than $1 billion, with Pro Medicus sliding from just under $4 billion to just under $3 billion.

 

In the US, the Nasdaq Biotechnology Index (NBI) fell a further 3.3 percent in September and 18.4 percent for the year.

 

The collective value of the three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) fell 1.4 percent to $146,580 million in September, with Resmed leading the falls, down 11.4 percent to $28,487 million, Cochlear retreating 2.4 percent to $12,032 million and CSL slipping 0.6 percent to $106,061 million.

 

Twenty-five of the BDI-40 stocks were up, with 14 up by more than 10 percent and seven up by more than 20 percent. Fourteen companies fell, with four down by more than 10 percent. At $76 million, Imugene was unchanged for the month and the year.

 

Paradigm jumped 80.2 percent to $555 million, followed by Antisense up 57.1 percent to $33 million, Kazia (45.8%), Mesoblast (45.6%), Impedimed (33.8%), Avita (29.7%), Prescient (23.5%), Proteomics (18.2%), Telix (15.4%), Uscom (13.3%), Resonance (12.8%), Volpara (12.6%), Next Science (11.8%) and Actinogen (11.1%).

 

In August, Pro Medicus added $654 million to the index, but in September retreated $947 million or 24.7 percent to $2,893 million. In previous years, the loss of $1 billion from the index was dire – if not catastrophic.

 

Today, the gains by Avita, Mesoblast and Paradigm compensated for the loss. Amplia (formerly Innate) fell $1 million or 20 percent to $4 million, followed by Cyclopharm (15.1%), Compumedics (14.8%), Oncosil (8.9%), Patrys (8.0%), Universal Biosensors (7.9%), Ellex (7.1%) and Dimerix (6.25%).

 

Outside the BDI-40, Alcidion at $228 million, Botanix at $241 million and Painchek at $277 million, were at their highest capitalizations since listing. Probiotec at $111 million is at its highest since being added to the Biotech Daily lists. Probiotec chief financial officer Jared Stringer told Biotech Daily the company may have reached this level about 10 years ago.

 

Cannabis Corner slid a further 3.2 percent to $1,562 million, with six of the 18 companies rising, 11 falling and one unchanged.

 

In the US Eyepoint (formerly Psivida) was up 19.8 percent to $284 million, Queensland’s Protagonist fell 8.1 percent to $467 million and Redhill with Australian assets was down 7.2 percent to $296 million.

 

Following a further capital raising, the Australian held value in Vaxart (formerly Aviragen and Biota) has been diluted to the point that we shall no longer cover the company – despite about 9,000 Australian investors retaining shares in the company. 

 

BDI-40 v S&P ASX200 Jun 30, 2006 to Sep 30, 2019 

 

3-Year Big Caps (Cochlear, CSL, Resmed) to Sep 30, 2019

BDI-40 ($m) v S&P ASX200 – Year to Sep 30, 2019 (current, raw data)