The BioScience Index
The C&L BioScience Index (‘CLBI’) highlights the performance of UK
bioscience companies compared to the FTSE All-Share Index.The FTSE All-Share Index continues to outperform the CLBI by
40% over the last 18 months. The year has started with some good news; a number of
companies have announced deals and collaborations and at the end of the February, Quadrant
Healthcare raised £20 million from its placing on the London Stock Exchange. Oxford
GlycoSciences and Oxford Asymmetry are also anticipated to list in the next few months.
The BioScience Share League
The C&L BioScience Share League (the ‘Share League’) analyses the
share price performance of 28 UK bioscience companies relative to the share price at 31
August 1996 (or the share price at the end of the month in which the company’s shares
were listed).
The CLBI and Share League have been compiled by
Coopers & Lybrand from share price and market capitalisation data as published in the
Financial Times and amended by the appropriate Adjustment Factors obtained from Financial
Times Information.
Key news in January and February 1998
The CLBI has risen by 7% during January and Febuary 1998 to approximately 99% of
its value at 31 August 1996. Only 9 of the 28 companies within the Share League have
a higher share price than at 31 August 1996. |
Company
1 Shield
Diagnostics
2 KS Biomedix
3 Powderject
4 Biotrace Intnl
5 Shire Pharmaceuticals
6 Peptide Therapeutics
7 Tepnel Life Sciences
8 Cantab Pharmaceuticals
9 Vanguard Medica
10 Alizyme
11 Polymasc Pharmaceuticals
12 Xenova
13 Cambridge Antibody
14 Chiroscience
15 Oxford Molecular
16 Cortecs
17 Celltech
18 PPL Therapeutics
19 Scotia
20 Celsis Intnl
21 Biocompatibles Intnl
22 British Biotech
23 Therapeutic Antibodies
24 Phytopharm
25 ML Labs
26 Oxford Biomedica
27 Stanford Rook
28 Enviromed
|
Index
462.63
285.71
178.21
168.42
166.03
146.45
120.00
116.27
107.46
94.67
89.35
86.30
85.87
66.29
63.26
56.85
54.79
52.20
44.70
44.59
44.26
43.91
42.36
41.47
34.19
30.82
28.11
26.67
|
Gainers
KS Biomedix revealed positive preliminary results from Phase II clinical trials for the
oral form of its rheumatoid arthritis treatment, CBFBS2.Powderject Pharmaceuticals and Chiroscience received US FDA
approval for an Investigational New Drug (IND) application. Powderject will commence
clinical evaluation of the local anaesthetic Lidocaine using its drug delivery method,
Dermal Powderject®, during the first quarter of 1998.
Peptide Therapeutics and MRC's Molecular
Pathogenesis Group signed a three year accord to develop protease inhibiting antibacterial
compounds. MRC will identify target bacterial proteases linked to disease, and Peptide
Therapeutics will apply its RAPiD™ Technology to design specific inhibitors and
investigate their therapeutic application.
Chiroscience and Bristol-Myers Squibb announced
research and licensing agreements in the area of matrix metalloproteinase (MMP) inhibitors
for the treatment of cancer.
Decliners
Biocompatibles' share price suffered as Alistair Taylor (CEO) anounced his resignation and
two large unnamed shareholders sold their stake in the company.
Despite the market's negative reaction to Oxford
BioMedica in early 1998, the company announced a collaborative feasibility study with
Rhone Poulenc Rorer and the underwriting of its £6 million placing and rights issue.
|
