Australian biotech market watch 25/11/09

Australian stocks have slipped back after a a spike yesterday morning. As of midday today, the All Ordinaries is at 4,716, level for the day.

Prima BioMed (ASX:PRR) has dropped back to 15c after a small rise to 16.5c last week following the announcement the company was working with Professor Ian Frazer's team on an oral cervical cancer vaccine.

QRxPHarma (ASX:QRX), which is developing dual-opid pain treatment, MoxDuo, has also taken a tumble over the past week after its announcement it had secured another $21.6 million in capital last Monday. It's now fetching 83.5c, down from $1.20 prior to the announcement.

Sirtex Medical (ASX:SRX) has jumped over 10% since Friday to $7.10 after it established a Centers of Excellence programme recognising hospitals that make significant contributions to interventional oncology, including the use of Sirtex's own SIR-Spheres.

Of the majors, ResMed (ASX:RMD) is up 1% to $5.55, while Cochlear (ASX:COH) has bounced back to its high of yesterday, reaching $62.39, up 2.45% today, and CSL (ASX:CSL) is level at $31.52.

Primary Health Care (ASX:PRY) has also gained 2% to $6.07, recovering from its dip in trading yesterday.