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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Friday was pivotal for the Biotech Daily Top 40 Index (BDI-40), with the promotion of Pro Medicus to form the four Big Caps – the first change to the Big Caps in our 19 years.
In the course of October 2024, Pro Medicus overtook Cochlear’s market capitalization – demanding its promotion from the BDI-20 into the Big Caps.
The consequential vacancy has been filled by Clarity, joining Telix in the multi-billion-dollar, radio-therapy club in the BDI-20.
A further consequential is the promotion of EBR Systems into the Second 20, just ahead of strong competition from Botanix and Optiscan. The latter have some revenue, while EBR is awaiting FDA approval for its cardiac pacing device.
Other contenders for promotion through the lists include 4D Medical, Arovella, Echo IQ, LTR Pharma, Lumos, Mach7, Pacific Edge and Painchek.
With the removal of the $20,360 million Pro Medicus, and promotion of the $384 million EBR, the raw data for the BDI-40 falls 49.4 percent to $20,475 million, a considerable drop, but nevertheless 11.05 percent higher than 12 months ago on October 31, 2023.
The BDI-40 (including Pro Medicus) was up 2.3 percent for the month of October and 119.4 percent for the year to October 31, compared to the benchmark ASX200 down 1.3 percent for the month and up 20.3 percent for the year.
The Nasdaq Biotechnology Index (NBI) fell 2.5 percent in October, but was up 25.9 percent for the year. Cannabis Corner fell a further 0.7 percent in October.
The collective value of the three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) rose 1.9 percent to $211,671 million. Resmed led the charge, up 5.6 percent to $54,190 million, followed by CSL up 0.6 percent to $138,943 million and Cochlear up 0.5 percent to $18,538 million. From today, there will be four Big Caps.
In the month of October, 16 of the BDI-40 companies were up, three by more than 10 percent; 22 fell, with 14 down by more than 10 percent; and two were unchanged.
Orthocell was the best, up $59 million or 66.3 percent to $148 million, followed by Mesoblast (17.3%), Pro Medicus (11.9%), Aroa (8.7%), Opthea (7.1%), Dimerix (6.7%), Proteomics (6.7%) and Telix (2.4%). EBR climbed 21.1 percent to $384 million.
Medadvisor led the falls, on increased receipts, down $104 million or 44.4 percent to $130 million, followed by Curvebeam (37.9%), Resonance (22.2%), Polynovo (21.9%), 4D Medical (21.3%), Clarity (20.0%), Universal Biosensors (20.0%), Neuren (19.1%), Amplia (18.2%), Immutep (16.0%), Nanosonics (14.1%), Alcidion (12.05%), Percheron (11.6%) and Imugene (10.4%).
The 12 companies that comprise Cannabis Corner slipped 0.7 percent in October to $277 million, with most (six) unchanged, three up and three down.
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:
https://www.australianethical.com.au/personal/ethical-investing/companies-we-invest-in/