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 October BDI-40 Down 5%, Big Caps Up 3%;
ASX200 Up 2%

Patrys Up 62%, Impedimed 29%; Mesoblast Down 39%, Alterity 28%

 November 2, 2020

 
A harsh reading could attribute it all to Mesoblast falling $1,196 million or 39.3 percent following a US Food and Drug Administration complete response letter, requiring further trials of Remestemcel-L for graft-versus-host disease.
 
It is true to say that had Mesoblast not fallen, the BDI-40 would be up, but it is a composite index of many stocks. Some fell and others climbed.
 
By comparison, the benchmark S&P ASX200 was up 1.9 percent in October to 5,928 points but 11.0 percent below October 31, 2019.
 
The BDI-40 was up 4.5 percent for the year to October 31, 2020, while the Nasdaq Biotechnology Index (NBI) fell 3.7 percent in October but was up 21.6 percent for the year.
 
Most unusually, the collective market capitalization of the three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) climbed 2.7 percent in October despite the behemoth CSL retreating 1.4 percent to $132,624 million.
 
Resmed was responsible for most of the improvement, up 16.9 percent to $40,140 million on its first quarter report showing that its response to the Covid-19 pandemic was a positive for investors. Cochlear was up 7.5 percent to $14,326 million.
 
For the month of October, 16 of the BDI-40 companies were up, nine by more than 10 percent and 23 fell, with 12 down by more than 10 percent.
 
Patrys was the best, on no major news at all, up $13 million or 61.9 percent to $34 million. Impedimed climbed $20 million or 28.6 percent to $90 million, followed by Amplia (26.3%), Imugene (19.9%), Pro Medicus (19.9%), Optiscan (18.4%), Polynovo (17.9%), Universal Biosensors (16.3%) and Genetic Signatures (11.1%).
 
Mesoblast led the falls (see above) down $1,196 or 39.3 percent to $1,848 million, followed by Alterity down 27.8 percent to $39 million, Antisense (23.9%), Actinogen (23.3%), Cynata (20.7%), Osprey (17.9%), Prescient (15.9%), Cyclopharm (15.5%), Dimerix (15.0%), Avita (14.0%), Orthocell (12.3%) and Clinuvel (12.2%).
 
Cannabis Corner fell a collective $120 million in October to $1,146 million, down 21.7 percent for the year to October 31.
 
On the Nasdaq, Eyepoint (Psivida) fell 22.0 percent to $71 million, down 79.6 percent for the 12 months, and its lowest market capitalization since March 31, 2018, when it left the ASX for the better valuations of the Nasdaq.
 
Redhill (with Australian assets) retreated 16.5 percent from an all-time high of $533 million to $445 million, while Queensland’s Protagonist slipped 1.2 percent to $992 million.
 
 
BDI-40 v S&P ASX200 Jun 30, 2006 to Oct 31, 2020 
 
 
5-Year Big Caps (Cochlear, CSL, Resmed) to Oct 31, 2020


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

  

 

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

 

* Biotech Daily editor, David Langsam, owns shares in Acrux, Alcidion, Alterity, Amplia, BTC Health, 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: 
   https://www.australianethical.com.au/personal/ethical-investing/companies-we-invest-in/