PXS 0.00% 26.5¢ pharmaxis ltd


  1. 1,175 Posts.
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    Ashgrove, clearly we're at an impass. You think that you've got it all figured out as to why PXS has fallen, yet everyone else seems to think that PXS is a pretty good bet and that the fall, while annoying, is just part of the broader market correction and likely to be temporary. Most people also seem to think you're a bit of a dill too... but I digress.

    I figure that if you are right about the reasons behind the fall for PXS, then it really should stand out from the pack as being a dog. To check, i went to the Valutech website which gives a brief analysis of biotech companies listed on the ASX, including how they've performed over the past few years. Now obviously, PXS has done extremely well over the past few years (yes, i know, all just due to good PR), but to give you the best chance of winning the argument, we'll just look at how its gone this year, which is admittedly poor.

    A quick count of active biotechs came to 121. You'll be interested to know that of those, 73 had performed worse than the market in general (to the point of most recent analysis - typically within last 2 weeks). Most of them have fallen more than 25%, many more than 50%. I've listed the ones that have performed worse than the market at the bottom of this email so you can check them if you like. Pharmaxis is there, so is Cellestis, Resmed, Progen, Cochlear, Avexa, Acrux, Neuren etc etc - dogs the lot of them apparently! If I included all the ones that had fallen, I would have had to list virtually every company.

    Given this, can you please explain the logic behind arguing that the PXS share price is falling for reasons intrinsic to the company, rather than simply being another company caught up in the rush out of the market in general and from biotechs in particular. Or has the market suddenly (and simultaneously) realised that all 73 of these companies are terribly flawed in a similar way to PXS? For the sake of the argument, we'll forget that the prices of hundreds of other companies have also fallen. Be interested to hear how you think this is PXS problem and not a market issue.

    Biotech companies performing WORSE than the market so far in 2008.

    ABI - Ambri Ltd., ACG - AtCor Medical Holdings Ltd., ACL - Alchemia Ltd., ACR - Acrux Ltd., ACU - Avantogen Ltd., ACW - Actinogen Ltd., AGX - Agenix Ltd., ANX - Anadis Ltd., AOP - Apollo Life Sciences Ltd. AOS - Advanced Ocular Systems Ltd., AVS - Avastra Sleep Centres Ltd., AVX - Avexa Ltd., BDM - BioDiem Ltd., BNE - Bone Medical Ltd. BOS - Biosignal Ltd., BPO - Bioprospect Ltd., BTC - Biotech Capital Ltd., BZI - BrainZ Instruments Ltd., CAU - CollTech Australia Ltd., CBB - Cordlife Ltd. CCE - Clinical Cell Culture Ltd. CGS - Cogstate Ltd., CIR - Circadian Technologies Ltd., CNN - Cardia Technologies Ltd., COH - Cochlear Ltd., CST - Cellestis Ltd. CXD - CathRx Ltd. CXS - Chemgenex Pharmaceuticals Ltd. CYT - Cytopia Ltd. ELX - Ellex Medical Lasers Ltd. FER - Fermiscan Holdings Ltd. GBL - Genesis Biomedical Ltd. GEN - Genesis Research and Development Corporation Ltd. HXL - Hexima Ltd. IAT - Iatia Ltd. ICV - Incitive Ltd. IMU - Imugene Ltd. LCT - Living Cell Technologies Ltd. LFE - Life Therapeutics Ltd. MBP - Metabolic Pharmaceuticals Ltd. MGZ - Medigard Ltd. MSB - Mesoblast Ltd. MVH - Medic Vision Ltd. NAL - Norwood Abbey Ltd. NEU - Neuren Pharmaceuticals Ltd. NLS - Narhex Life Sciences Ltd. NSP - NuSep Ltd. OIL - Optiscan Imaging Ltd. PAA - PharmAust Ltd. PCC - Probiomics Ltd. PGL - Progen Pharmaceuticals Ltd. PLI - Peplin Inc. PLT - Polartechnics Ltd. POH - Phosphagenics Ltd. PRR - Prima Biomed Ltd. PSD - Psivida Ltd. PXS - Pharmaxis Ltd. PYC - Phylogica Ltd. RBY - Rockeby Biomed Ltd. RMD - ResMed Inc. SBP - Solbec Pharmaceuticals Ltd. SLA - Solagran Ltd. SLT - Select Vaccines Ltd. STC - Stem Cell Sciences Plc. TIS - Tissue Therapies Ltd. UBI - Universal Biosensors Inc. UNI - Unilife Medical Solutions Ltd. VCR - Ventracor Ltd. VHL - Virax Holdings Ltd. VLA - Viralytics Ltd. VSG - Visiomed Group Ltd. XCD - Xceed Capital Ltd.
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