Listed Biotechnology Companies Q-Z
This Page Last Updated On 22/02/12
Five year old company listed in May 2007. Biopharmaceutical development company commercialising technology for treatment of pain and control of bleeding. Since listing, prices fell 85% (down 82% in 2008) to a market cap of $15 million. There was a 290% recovery in 2009 to $80 million with commercialisation outlook improving and funds raised and a further increase of 79% in 2010 to $176 million following announcement of strategic alliance with Chinese company, successful trials, success in $19 million fund raising and R&D funding support in the US. There was an 8% decrease in 2011 to $218 million with completion of recent phase III trial, prospects for a new NDA and new fund raising to take MoxDuo IR through to commercialisation. Deal with Activis has spurred shares up 8% to $236 million in early 2012 with payment of licence fee. (16/2/12)
This company has invested so far in Inner Vision Biometrics which is expected to provide only a modest income for some years. However FDA approval for the company's diagnostic provided a short term fillip in early 2005 with a 20% price jump against the downwards sector trend. Introduction of a new strategy to develop business in the US market has not been successful and company has returned to single revenue income. However, while IVB provides modest revenues, it is now profitable. Company value is $7 million following falls of 30% in 2005 and 78% in 2006 associated with fund raising, market correction and shareholder dissatisfaction. With refocussing of company, prices fell 35% in 2007 and 33% in 2008 with the bright lights being a continuing contract with Novartis and improving financials such that the company became profitable. There have been price oscillations in 2009 (up 180%) with profit and expectations of increasing income as new products and services are introduced. Prices down 25% to $8 million in 2010 apparently associated with GFC and reduced earnings and despite new agreement with Novartis. There was a 57% jump to $12 million in 2011 with signing of product evaluation agreement with Pfizer but there has been some subsequent decline (eventually down 38% in 2011 at $5 million). There has been a 23% increase early in 2012. (5/2/12)
Shares in the company took a hit in late 2001 with falls from over $10 to under $5. This was followed by patchy but clear improvement to the $6 level (62% increase in 2005 and a 2:1 stock split and even in early 2006). However on release of financials in 2006, there appeared to be a shift in expectations for the company and the share price appeared to have stabilised at a lower level of around $5.40 with subsequent growth. The fundamentals of the company are good with substantial turnover and high profitability. The company currently had a market value of around $3.8 billion at the end of 2011 and if continuing positive results are recorded, prices should continue rising (up 21% in 2006 but down 6% in 2007, down 10% in 2008, up 11% in 2009, up 18% in 2010 following stock split but down 29% in 2011 following sudden resignation of CEO, strengthening of A$ and some reorganisation of the company as well as acquisition of an Irish company to extend range as well as declining profitability). There has been an 11% increase to $4.2 billion in 2012 associated with improved financials and some recovery in the US market. (16/2/12)
Heart augmentation device company based in US listed in late September 2004. The company has some advantages compared to standard heart device companies and is focussing on a slightly different market. Shares listed at a premium and since then slipped 70% (down 58% in 2005 and level to mid 2006) to 40% of the prospectus price with a steep drop associated with early termination of second implant due to infection. However with the raising of funds for clinical trials and indications that the FDA is positively disposed to trials in the US, there was a 40% jump at the end of 2006. Prices up 40% in 2006 overall but down 39% in 2007 and down 71% in 2008. There was not much movement in 2009 with a market cap of $20 million and further fund raisings (down 12%). There was a jump in prices with FDA approval for clinical trials which have now started and been extended but further funds will need to be raised to support these trials. Down 5% in 2010 at $36 million and even at $43 million in 2011 with heightened expectations for progress in the US market and new funds raised. There has been an 3% decrease to $44 million in 2012 with consolidation of US stocks and new funds raised in association with NASDAQ listing. (19/2/12)
Predominantly a distributor in Asia of biotechnology products, this company has had a lacklustre performance since its listing at the end of 2002. Shares fell 30% in 2004 before recovering half of that loss and declined again until the deal with Bioton of Poland stabilised prices. However, there was a big jump in October 2005 with finalisation of a deal to distribute its hepatitis B vaccine in China, a move by Bioton to take up over 90% of the company (achieved) and a joint venture to establish production facilities in China. The company had a market cap of $193 million associated with speculation around the developments (down 14% in 2006, up 11% in 2007, down 62% in 2008 but up 900% in 2009 with announcement of supply and distribution agreement with Bayer Schering in China). High value of company is not supported by fundamentals and recent departure of Chairman/CEO is of concern. There was a share price decline of 63% to $72 million in 2010 with establishment of new joint venture and a further 48% decline to $38 million in 2011 and the sale of assets in Israel. There has been a further 34% decline to $25 million in 2012. (6/2/12)
Quirky company drawing on technology from Russia. There has been little of substance presented on this company as clinical trials in Australia have only just started and any investment would be highly speculative at this stage. Following listing in September 2003, prices fell by over 60% to July 2004 with a subsequent 40% recovery and then a 50% jump in November 04 associated with completion of phase II clinical trials in Russia and a distribution agreement with Cardinal, followed by a gradual 44% decline and recovery in 2005 and early 2006 associated with approval of Ropren in Russia which finally occurred in July 2007. In terms of substance, the nature of the company and its products are very hard to interpret until trials are completed in Australia or the US. The market value of $44 million in 2010 was high with respect to fundamentals with revenues still minimal. There was a speculative jump (up 97% in 2006) associated with preliminary results for trials by Swinburne University and activities overseas and a further 242% increase in 2007 associated with distribution agreements and clinical trials in Russia, information on trials in Australia, the deal with Bioprospect Ltd and registration of Ropren in Russia. Shares fell 86% in 2008 as a result of fall out from Opes Prime and overall market malaise. The company still needs to gain revenue and carry out further trials in Australia to provide credibility. Until this is done, there could be further falls in value and there was a further 13% slide in 2009 and then a doubling of price relating to significant new investment in July 2009, forthcoming product launch in Russia and push for FDA acceptance of Bioeffective A as a dietary supplement (up 56% in 2009). Down 46% in 2010 with sales commencing in February 2010 and projected sales of US$15 million by December 2010 (not achieved). A dispute with Bioprospect did not reflect favourably on either company but was settled with Solagran selling its BioProspect shares. Due to lack of meeting milestones, prices down 57% to $20 million in 2011. There has been a further 36% decline in 2012 to $13 million. (21/2/12)
Company listed in August 2004. The company appeared to have a limited range of products and the commercial potential of these did not appear to be great. However, the company has shown steady growth, international coverage and profitability. Share prices were 60% below listing price and had dropped 60% in 2005 until the announcement of FDA approval for sales in the US raised prices temporarily around 50%. They were down 60% overall in 2005 and 88% in 2006 but there was an unexplained temporary jump in early 2007 and then a 40% jump with announcement of improved trading in first half of year (down 5% in 2007). Following substantial fund raising and cost cutting, the company is valued at $40 million and the company will now need to demonstrate significant commercialisation to justify the value. This is beginning to occur (even in 2008 - with improving revenues and positive cash flow and up 115% in 2009 following 20:1 consolidation). There has been a 14% increase in 2010 with reporting of a profitable year and moves to expand the product range. Further increase in early 2011 with improving opportunities for reimbursement in the expanding US market (eventually down 7% to $38 million). There has been a recovery in early 2012 with the acquisition of a leading Dutch oral appliance distribution company to promote access to the European market and gradually improving financials. (5/2/12)
It has been hard to get excited about this company as testified by a downward trend in share price since listing in 2000 until early 2003. Nevertheless, share prices trebled in 2003 and were stable in 2004 but fell 36% in 2005. There was a temporary jump in 2006 associated with fast tracking of VivaGel by the FDA but overall in 2006, there was little change in prices. Potential strength lies in its investment in a US company and the eventual acquisition of this company made sense. We consider that a market cap of $204 million at the end of 2010 was high given annual revenues of $5 million (predominantly government grants and royalties) and annual losses of $7 million. Following speculation, recent awards and recent ADR program, the share price is high (down 16% in 2007 and down 51% in 2008). There was a 256% increase in 2009 which appears to be speculation driven relating to developments with VivaGel and new agreement with Elanco and up 20% in 2010. There was a 37% increase to $320 million in 2011 driven by broker promotion, speculation, signing of condom agreement with Okamoto Industries and potential technology application to a number of sectors, notably the reformulation of anticancer drugs and agrichemicals. The global financial crisis in August reduced prices somewhat but this is recovering now that significant new funds have been raised. There was a 26% increase in 2012 to $403 million associated with speculation over coming clinical trial and positive animal trials. (22/2/12)
Sirtex showed a dramatic increase in price at the end of 2002 associated with commercialisation of its technology commencing. Since that time, the company has been the subject of an unsuccessful takeover bid, has significantly increased turnover and reached profitability. While there may be some questions about future directions and products for the company as its current market appears limited, fundamentals would suggest that the market cap of over $200 million at the beginning of 2004 was prematurely high. As the company has increased turnover significantly and has achieved profitability, it has good prospects if it can diversify into the associated breast cancer market as recently reported. Prices increased 25% in early 2006, despite the litigation with University of Western Australia and a cross claim between Sirtex and its founder which caused a drop in August 2006. As revenues have increased and the company has returned to profitability, prices rose 35% in 2006, up 67% in 2007 but down 29% in early 2008. The litigation with UWA was resolved in favour of Sirtex leading to a temporary 20% bounce in share prices with a further decline associated with marginal profits for the year and continuing petty legal issues (down 63% in 2008). Improving financials led to a price rebound of 348% in 2009 with a 20% decline in 2010 when revenue and profitability appeared to plateau. Market cap at end of 2011 was reasonable at $250 million with further increases likely as sales are continuing to increase and profit will follow (down 26% in 2011). There has been a 9% increase in 2012 to $273 million (20% since beginning of December 2011). (17/2/12)
Relisting of a former oil company to commercialise feed enhancers for livestock industry and products for companion animals. The company listed a little too early in its development cycle as trials had barely started so short term downwards pressure on prices were expected. However, prices doubled in three months to a peak of 60¢ in January 2005 due to heightened expectations for the results of field trials, particularly on pigs in the US. Prices fell 58% in 2005 with some recovery due to good results from US pig trials and chicken trials and an agreement with a South African company to fund trials. Prices declined by 53% in 2006 due to lack of trial progress with some recovery at the end of the year due to new trial expectations, a new agreement with Merial and a new manufacturing arrangement. There was a temporary 16% increase in early 2007 associated with positive trial results in beef cattle and horses and potential for application of its feed enhancer to aquaculture as well as new arrangements in North America culminating in the acquisition of Progressive Bioactives Inc. However by year end prices had fallen 45%. In early 2008, there was some price oscillation associated with fund raising and proposals for trials in Chile. There was also some positioning in niche markets through feed additive and diagnostic arrangements. Prices fell 92% in 2008 following announcement of distribution and manufacturing arrangements, a milestone payment and a move into thecompanion animal sector. However, commercially significant levels of revenue were only just starting to appear and company continued to languish with market cap less than $1 million with limited funds. Company positioned itself for future growth which would depend on effective implementation of commercial strategies and access to funds to support growth. This eventually led to a recapitalisation of the company, turn over of board and management, refocussing on Salbutamol product, shifting of company to the other side of Australia, a move into phytopharmaceuticals with positive, aggressive promotion and licensing of an aerosol drug delivery platform. This was accompanied by a 250% recovery in prices in 2009 and market cap at $15 million with expectation of selling a pharmacy line in 2010. Despite this, the company is continuing to look vulnerable: down 50% in 2010 to $11 million with little signs of substantial commercialisation and indications shareholders are losing confidence in company. Stirling has acquired a 65% controlling interest in TeleMedCare Holdings which it is now selling and 80% in pathology company Halcion (discontinued) but little increase in share price indicates the market is not responding positively to any announcements by the company. There was a 71% decrease to $4 million in 2011 with shares suspended prior to a major announcement. Company in voluntary administration with shares suspended but the company is currently in process of recapitalising and relisting. (10/2/12)
Originally Proteome Systems and name changed in November 2008. Company proved itself before listing but there were problems in company value on listing in late 2004 followed by a dramatic fall on list price. The company had sufficient depth and geographic spread to support significant value and we would have expected some price rise in the short term but this did not happen and up to mid June 2005, prices declined over 80%. However the announcement at Bio2005 of funding from Gates Foundation for a rapid tuberculosis test resulted in a 150% jump in the share price with a subsequent slow decline. The company moved to reduce costs and increase its international marketing profile to drive value higher and changed top management. It has also exited therapeutic development and is now concentrating on diagnostics alone associated with the name change. The company has a market cap of $7 million following substantial fund raising (prices even in 2006, down 28% in 2007, down 85% in 2008 and down 47% in 2009 following exit of Becton Dickinson from TB diagnostic collaboration). There was a temporary rise in prices in 2010 without clear explanation (finally down 56% despite a number of agreements completed, shipping of first commercial product and further substantial fund raising). Prices down 29% in 2011 with value at $5 million and high turnover of shares preceded announcement of problems with collaborative program with Bayer CropScience leading to a collapse in share price (eventually down 71% to $2 million). Company is now in shut down mode with all development stopped, staff made redundant and facility closed. (6/2/12)
This company had a relatively insignificant history under its previous name of Eiffel Technologies. In 2003, a change in direction to concentrate on supercritical fluid extraction resulted in share prices doubling followed by a long term decline over a number of years due to lack of clear commercialisation. By 2007, the company raised funds and looked for new business directions with the involvement of Queensland Biocapital Funds and an associated strategic review. This resulted in shareholder approval to offload the company's supercritical fluid technology, rename the company as Telesso Technologies and undertake a 1 for 10 capital consolidation in February 2008. In 2008, prices fell 83%: market cap $2 million. Company has strategic agreement with Vascular Pathways Inc. of California to fund a multicentre trial of its catheters and potentially to acquire the company. There have been price oscillations without clear explanation in 2009 with a market cap of $2 million (down 13%). An announcement that the company would not continue with Vascular Pathways and intended to acquire an animal biotechnology company pointed to a new way forward. There was a 71% fall to $1 million in 2010 without explanation other than problems in finding suitable investment opportunities in a difficult environment and then a temporary doubling of price in November 2010 without explanation (eventually down 37% in 2010). There was a further 45% recovery in 2011 and a tripling of prices since November 2010 indicates that changes are afoot although a recent reversal is as yet unexplained (eventually down 14%). (7/2/12)
Listed in March 2004 without significant track record and with negligible business. This company was listed too soon and the shares have been subject to speculation which initially raised prices 50%. Since then, prices have fallen below listing price. Prices fell 24% in 2005 and 23% in 2006. Further declines were expected. However the announcement of an exclusive deal with Invitrogen Corporation in early 2007 resulted in a temporary lift in prices in 2007 and a further lift following announcement of three significant government grants with the expectation for some improvement in revenues in 2008. Prices down 35% in 2007 and down 73% in 2008 with a recovery of 68% in 2009 and market cap of $23 million due to speculation about positive clinical trials, further fund raising and a government grant. There has been a further 350% increase to $100 million in 2010 with further positive clinical results in Australia and Canada, awarding of patents in several jurisdictions and proposal to enter the European market by the end of 2011. There was a 47% decline to $65 million in 2011 associated with fund raising of $15 million to expand activities and economic downturn at the beginning of August and despite positive results from European trials. (8/2/12)
Listed in December 2006 with good pedigree and as a result shares jumped 170% on listing and are now up 180% ( up 32% in 2007 including an unexplained jump in June 2007 and a further jump in October associated with continuing developments with Lifescan) and fund raising. There is significant speculation pushing prices and it remains to be seen how quickly commercialisation can match the current market cap of $245 million (down 60% in 2008, up 214% in 2009 and down 18% in 2010). It would appear that value was affected not only by market downturn but also fact that company was falling behind projections for commercialisation but registration of first product has resulted in substantial price increase and first indications of profitability. The decline in 2010 is probably due to recovery from speculation in 2009 and Global Financial Crisis but positive trials on new product indicates further rises in 2011. However, lack of positive financial results and delays in FDA approval for recent test has dampened prices in 2011 but some recovery provided by new agreements with Siemens Healthcare and Cilag (now down 51% to $119 million). There was a 19% jump in early 2012 to $141 million with launch of Lifescan product in the US (now even at $119 million with latest financials indicating plateauing of revenues). (12/2/12)
Listed in December 2003, shares in the company dramatically increased in April, peaked and declined, levelling off at about $2.70 before jumping up to over $3 in October 2004 and a 70% decline since then to more than 50% below the listing price (down 66% in 2005). We expected the share price to stabilise in 2006 but as sales were slower than projected, prices declined initially, but there was a late jump in prices possibly associated with speculation on future sales (up 25% in 2006). In 2007, there was a 73% fall in prices followed by a partial recovery and then a further fall with an unexplained recovery (up 67% in 2008) and a further 61% recovery in 2009. The company had a market cap of $3 million at the end of 2011, eight years after listing with revenues still limited. Company strengthened by distributor taking major position on share register. There was a 58% decline in 2010 due to declining sales and increasing losses. Changeover of chairman and refocussing of the company in late December 2010 with further capital injections and board changes offers hope for the new year. There have been price oscillations in 2011 (down 77%) with further fund raising but annual sales have dropped below $1 million. This has not been helped by disagreements at Board level over company management and direction with the major shareholder prevailing and the new guard departing with major changes to the Board and management and further depression of the share price. There has been a 27% turnaround in 2012 without clear reason. (21/2/12)
Previously called Unilife Medical Solutions. Launched eight years ago, the stock in this company was over-hyped and suffered as a consequence. Share prices fell 65% in 2004, a further 51% in 2005, 44% in 2006 but stabilised and recovered in 2007 (up 53%), and prices rose a further 33% temporarily in 2008 associated with a deal with sanofi-aventis which is now bearing fruit. Licence fee payment meant company was profitable but shares still fell 30% in 2008 but rose 277% in 2009 to a market cap of $281 million. Establishment of manufacturing facility in Pennsylvania, industrialisation agreement with sanofi-aventis and commencement of manufacturing in US caused the price rises but there is some question as to whether the limit has been reached. Company has redomiciled to US, listed on NASDAQ and relisted on ASX in 2010. Shares rose substantially in 2010 but have recently declined following release of revised financials. This was reversed with FDA approval of syringes but were overall down 3% to $323 million in 2010 with additional funds raised. There was a further decline and recovery to $216 million in 2011(down 42% with further funds raised). There has been an unexplained 16% increase in prices in early 2012 to $250 million. (5/2/12)
Virax suffered a 60% fall in share price with the announcement in February 2003 that one of its HIV vaccines did not elicit an immune response. The position was recovered by March 2004. However, the Virax portfolio was said to be in a building phase and this resulted in downward pressure on prices: there was a 67% fall in 2005 and a further 48% loss in first half of 2006 with a later recovery due to some heightened expectations (false hopes?) for clinical trials (up 31% in 2006 overall), a 56% decline in 2007 and a 65% fall in 2008 despite a jump with approval for clinical trial in South Africa. There was a 90% increase in 2009 based on speculation about licensing income through Transgene and a further 64% increase to $16 million in 2010. In our view, the market cap of $16 million in early 2010 was very high considering the track record of this company and somewhat lower than a recent valuation of a technology licence with Transgene. The company appears to be looking for new directions and has restructured the board accordingly. Unsurprisingly, the South African clinical trial did not elicit a sufficient immune response to proceed and this led to a 70% fall in the share price (down 51% in 2010 to $5 million). There wasn an increase in 2011 with new agreement with Transgene followed by a fall when Roche announced it was terminating its agreement with Transgene (down 63% to $2 million in 2011 with low take up of rights issue). There was a temporary increase in early 2012 with new funding supporting development of skin cancer therapeutic (up 10%). (17/2/12)
Previously called Psiron and changed name at end of 2006. Shares in this company increased significantly in 2003 due to its investment program and the stabilisation of the company following the distribution of products and services with Analytica Ltd. The company is now preparing for new developments through its agreement with Viro Targ. The market cap of the company was $20 million in 2008 and a significant proportion of this is associated with future commercialisation prospects. Whether these transpire in a timely manner will influence prices in the future. However, in our view, the company is over valued and the sudden departure of the CEO and CFO and then two directors following shareholder disagreements have given cause for concern. Shares were suspended for five months in 2006 due to fund raising and were relisted at the end of August with a subsequent fall and recovery associated with the commencement of ADR trading in the US (down 12% in 2006, a further 44% in 2007 and 52% in 2008). There has been a decline and sudden recovery with good publicity in 2009 (down 8%) and a further 100% temporary jump in early 2010: eventually down 11% at $18 million as talks with FDA on trials result in some delay, options converted raising $3.9 million and potential for treatment of brain cancer demonstrated. There was a 91% increase to $37 million in 2011 associated with possible application of the company's technology to pancreatic cancer or other speculative matters. Following a 10:1 consolidation in August, prices fell around 25% and for all of 2011, prices up 2% at $25 million with more funds raised. There has been a further 15% increase in 2012 to $29 million. (20/2/12)
