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Horrible Month for Stock Market is Even Worse for Life Science Tool Vendors

NEW YORK (GenomeWeb News) – In one of the worst months ever for the US stock market, firms that make and sell life science tools and molecular diagnostic products were hit particularly hard.
 
For the month of October the GenomeWeb Daily News Index, which tracks the stock performance of 35 firms, fell around 22 percent — a steeper decline than the Dow Jones Industrial Average (-14 percent), the Nasdaq (-17 percent), and the Nasdaq Biotech Index (-12 percent). Every single stock in the Index had a down month, with all but three of the stocks registering double-digit losses.
 
Bruker had the most difficult month, with its shares tumbling 69 percent. This past summer, the firm began taking steps to reduce its operating and interest expense and reduce its exposure to currency fluctuations. It reported last week nearly flat Q3 revenue growth compared to the third quarter of 2007 and a 33 percent drop in profits for the quarter.
 
In addition to Bruker, five other firms in the Index lost at least 50 percent during October: Caliper Life Sciences (-50 percent), Affymetrix (-52 percent), Helicos BioSciences (-55 percent), CombiMatrix (-57 percent), and Orchid Cellmark (-59 percent).
 
Three firms in the Index managed to keep their declines in the single digits for the month: Rosetta Genomics (-6 percent), Nanogen (-7 percent), and Bio-Rad Laboratories (-9 percent).
 
While GenomeWeb Daily News covers many more firms than the 35 that are in the Index, those that have been included have a significant portion of their business focused on molecular biology and cellular research tools and are publicly traded in the US.

 
GenomeWeb Daily News Index
Company
Ticker
Current Price
(Oct. 31, 2008)
Last
Price
(Sept. 30, 2008)
% change
Accelrys
ACCL
4.79
5.49
-12.75
Accelr8
AXK
2.74
3.78
-27.51
Affymetrix
AFFX
3.69
7.74
-52.33
Agilent
A
22.19
29.66
-25.19
Applied Biosystems
ABI
30.83
34.25
-9.99
Beckman
BEC
49.92
70.99
-29.68
Becton Dickinson
BDX
69.40
80.26
-13.53
Bio-Rad
BIO
85.38
93.92
-9.09
Bruker
BRKR
4.09
13.33
-69.32
Caliper
CALP
1.40
2.80
-50.00
Celera
CRA
11.31
15.45
-26.80
Cepheid
CPHD
11.87
13.83
-14.17
Clinical Data
CLDA
11.00
16.08
-31.59
CombiMatrix
CBMX
6.36
14.92
-57.37
Compugen
CGEN
1.46
1.66
-12.05
DeCode Genetics
DCGN
0.27
0.39
-30.77
Genomic Health
GHDX
18.43
22.65
-18.63
Gen-Probe
GPRO
47.06
53.05
-11.29
Helicos BioSciences
HLCS
0.77
1.72
-55.23
Illumina
ILMN
30.83
40.53
-23.93
Invitrogen
IVGN
28.79
37.80
-23.84
Luminex
LMNX
18.65
25.01
-25.43
MDS
MDZ
10.64
11.95
-10.96
Millipore
MIL
51.89
68.80
-24.58
Nanogen
NGEN
0.25
0.27
-7.41
Nanosphere
NSPH
4.98
8.53
-41.62
Orchid Cellmark
ORCH
1.18
2.88
-59.03
PerkinElmer
PKI
17.94
24.97
-28.15
Qiagen
QGEN
14.26
19.73
-27.72
Rosetta Genomics
ROSG
2.45
2.62
-6.49
Sequenom
SQNM
18.00
26.62
-32.38
Sigma-Aldrich
SIAL
43.86
52.42
-16.33
Thermo
TMO
40.60
55.00
-26.18
Vermillion
VRML
0.70
1.00
-30.00
Waters
WAT
43.80
58.18
-24.72
GWDN Index Average 20.34
26.24
-22.49
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