NEW YORK (GenomeWeb News) – The GenomeWeb Daily News Index rose for the third straight month, as four of the 36 firms in the Index posted gains of greater than 25 percent in May.
Shares of Accelr8 had the biggest jump for the month, rising 39 percent. The firm's shares rose sharply last week after it said that it had presented results on its rapid tests for identifying multi-resistant organisms at the recent 109th General Meeting of the American Society for Microbiology. Accelr8 also noted that it had received a new US patent covering its OptiChem technology for hydroxyl functional coatings.
The other companies with 25 percent-plus increases in their share prices included Decode Genetics (32 percent), Nanosphere (27 percent), and Pressure BioSciences (26 percent).
Thirteen firms in the Index lost value during the month, with Monogram Biosciences experiencing the sharpest decline (-23 percent). At the beginning of May, Monogram reported that its first-quarter revenues fell 4 percent on lower product revenue and its net loss surged.
In comparison, the Dow Jones Industrial Average soared 12 percent for the month of May, while the Nasdaq gained 3 percent, and the Nasdaq Biotech Index climbed 4 percent.