Australian biotech market watch 12/06/09
Friday, 12 June, 2009
The All Ordinaries has continued its rally, gaining half a percent in trading up to 3pm this afternoon, although most of the gains were in property and finance, with the health indicies not faring as well.
Cochlear (ASX:COH) dropped fractionally, although several analysts have recently been offering a positive outlook on the stock. A heavier fall was experienced by Halcygen Pharmaceuticals (ASX:HGN), which dropped 19.4% to 25c, and SciGen, which shed 15% to 32c. Pharmaxis (ASX:PXS) also dropped 14c to $2.55 after a big day Thursday, which saw its price jump from $2.50 to $2.70.
It wasn't all bad news though, particularly for ChemGenex (ASX:CXS), which jumped 10% in response to its announcement yesterday of positive results from its clinical trials of anti-chronic myeloid leukemia drug, Omacetaxine.
CathRX (ASX:CXD) also jumped 7.1% to 60c, continuing its week-long rise following its capital raising announcement of last week. Ramsay Health Care is still meandering its way up, this time by 29c to $11.65.
Biota Holdings (ASX:BTA) is up 6.3% to $1.35 following its announcement that its phase IIa challenge study of BTA798, an orally active inhibitor of human rhinovirus (HRV), was successful in demonstrating proof-of-concept in humans.
NSW Govt delivers foot-and-mouth vaccine to protect livestock
A biodegradable vaccine to protect livestock from foot-and-mouth disease has been developed as...
Scientists optimise delivery of mRNA to target cells
A highly versatile new method captures and attaches antibodies to the surface of mRNA-loaded...
'Anti-reward' brain network helps explain cocaine addiction
A new study identifies a specific 'anti-reward' network deep in the brain that undergoes...
