Biotech stocks steadied in May: Intersuisse

While biotechnology stocks have suffered in the first five months of 2005 -- with the Intersuisse biotechnology index showing a 23 per cent fall since December 31 -- the index stabilised in May with a 0.28 per cent gain.

This followed an All Ordinaries Index increase of 3.23 per cent and a rise of nearly 5 per cent on the Nasdaq Biotechnology Index.

Of the 81 companies on the Intersuisse biotechnology index in May, 40 saw a rise in stock price and 39 saw a fall.

Shares in seven companies rose more than 20 per cent in May, with the highest being Ventracor with an 86 per cent rise in share price. Ventracor was also the only company out of the seven which saw a gain since the beginning of the year, with a 6 per cent increase in share price in 2005.

Thirteen companies saw falls in share price of over 20 per cent in May and four of those -- USCOM, Epitan, Occupational and Medical Innovations and Proteome Systems -- saw falls ranging from 31 per cent to 40 per cent.