Another Monday and another bold start to the week for the biotech sector. Again we saw strong gains by a number of recent standouts although there were others who started the week lower. Appendix 4C's were aplenty yesterday with many released to the market;be sure to check the cash balances and quarterly outflows of the bios that you are watching.
As I posted yesterday, SPL reported significant tumour-targeting results with its proprietary dendrimer- docetaxel formulation. In recent animal studies Starpharma’s docetaxel formulation resulted in levels of the cancer drug docetaxel in tumour tissue more than 40 times greater than levels seen with the conventional formulation of docetaxel (Taxotere®).
Winners and losers There were no surprises to see HTX close up 50% to continue its recent trading pattern alluded to yesterday. VLA continued its recent dominant run to close at a daily high of 46.5c or 10.71%. Like Viralytics, NEU resumed where it left off on Friday to close up 9.52% without showing signs of being out of puff. SPL whacked on over 9% on the back of the aforementioned announcement while biotech thread favourites AVX and PBT closed up 6.45% and 5.66% respectively.
With biotech stocks posting gains during up, flat and down days on the wider market, its hard to predict what will happen today. The effect of the US storms on NASDAQ may be seen across the wider market although we will have to wait and see.
With the likes of PBT, VLA and NEU all running of late, who do you think will be next? Let us know by posting a reply to this thread!
Have a great day all and for those in Melbourne, enjoy the good weather!
