The Nasdaq Stock Market, Inc. ("NASDAQ") (Nasdaq:NDAQ) announced on May 11th that the results of the semi-annual re-ranking of the NASDAQ Biotechnology Index(r) (Nasdaq:NBI), which will become effective with the market open on Monday, May 21, 2007.
The re-ranking will result in 13 securities being added to the Index. All securities are classified according to the Industry Classification Benchmark (ICB) as either biotechnology or pharmaceutical. The securities that meet the classification criteria then must meet other Index eligibility criteria including listing on the NASDAQ Global Market or the NASDAQ Global Select Market and meeting minimum requirements for market value, average daily share volume and seasoning as a public company. The Index is ranked on a semi-annual basis in May and November. For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit www.NASDAQ.com.
As a result of the re-ranking, Curis, Inc. (Nasdaq:CRIS), Gene Logic Inc. (Nasdaq:GLGC), Inhibitex, Inc. (Nasdaq:INHX) and Threshold Pharmaceuticals, Inc. (Nasdaq:THLD), will be removed from the Index.
The NASDAQ Biotechnology Index is the basis for the iShares Nasdaq Biotechnology Index(sm) Fund (Amex:IBB), which seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the NASDAQ Biotechnology Index. In addition, options based on the NASDAQ Biotechnology Index and the iShares Nasdaq Biotechnology Index Fund trade on various exchanges. -NASDAQ
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