Australian biotech market today 17.03.09

By Kate McDonald
Tuesday, 17 March, 2009

The pharma and biotech sector has gained a little in the share market at 2pm today, along with a small rise in the All Ordinaries, which is up 2 per cent.

Avexa (ASX:AVX) has continued its climb from yesterday and is now trading at 13c, almost doubling its value from last week. The company announced good results from its HIV drug trial yesterday.

Cochlear (ASX:COH) has also continued its upwards movement from yesterday, trading at a round $50. CSL (ASX:CSL) is yo-yoing again, as is Resmed (ASX:RMD).

Acrux (ASX:ACR), which last week announced the completion of enrolment in its Phase III trial of Axiron, a transdermal treatment for testosterone deficiency, is up 3c or 7.8 per cent. Circadian (ASX:CIR) is up 8c to 68.

API (ASX:API) is up slightly, as is Healthscope (ASX:HSP), now trading at a healthy $4.

BioMD (ASX:BOD) is up a cent, or almost 30 per cent of its value. Peplin (ASX:PLI), which is in Phase III with its lead candidate PEP005, is up 2c to 59c.

Bone Medical (ASX:BNE)is down 20 per cent, while Clinuvel (ASX:CUV) is down slightly. pSivida (ASX:PVA) is down 10c to $1, despite last week’s gains.