A fall in the Nasdaq biotech stocks and a change in investor attitude has resulted in a sharp drop in Australian biotech indices since November.
Analysts contacted by BioWorld International had a range of explanations for the change, with one being that Australian investors that like to take risks now are putting money into small mining stocks.
The small or "spec" mining stocks, of which there are plenty on the local market, bear some similarities to biotech stocks in growth potential and risk. And, analysts said, they are now seen as a better bet than biotechs.
Other explanations include the lack of any real success story and the theory that the local …
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