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May 10th, 2008
The NASDAQ OMX Group, Inc. ("NASDAQ") (Nasdaq:NDAQ) announced today 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 19, 2008.
The re-ranking will result in 5 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, AtheroGenics, Inc. (Nasdaq:AGIX), Anadys Pharmaceuticals, Inc. (Nasdaq:ANDS), CuraGen Corp. (Nasdaq:CRGN), Labopharm, Inc. (Nasdaq:DDSS), NitroMed, Inc. (Nasdaq:NTMD), Panacos Pharmaceuticals, Inc. (Nasdaq:PANC), SciClone Pharmaceuticals, Inc. (Nasdaq:SCLN) and Verenium Corporation (Nasdaq:VRNM), will be removed from the Index.
AMAG Pharmaceuticals, Inc., (Nasdaq:AMAG) is a biopharmaceutical company. The Company utilizes its proprietary nanoparticle technology for the development and commercialization of therapeutic iron compounds to treat anemia and novel imaging agents to aid in the diagnosis of cancer and cardiovascular disease.
Biodel Inc. (Nasdaq:BIOD) is a pharmaceutical company focused on the development and commercialization of treatments for endocrine disorders such as diabetes and osteoporosis.
MiddleBrook Pharmaceuticals, Inc. (Nasdaq:MBRK) develops and commercializes drug products used in the treatment of infectious disease. The Company's drugs attempt to kill bacteria by exposing it to sequential bursts, or pulses of the medication instead of the standard antibiotic treatment regimens.
Pharmasset, Inc. (Nasdaq:VRUS) is a pharmaceutical company. The Company develops oral therapeutics for the human immunodeficiency virus (HIV), hepatitis B (HBV), and hepatitis C (HCV).
Synta Pharmaceuticals Corp. (Nasdaq:SNTA) is a biopharmaceutical company developing small-molecule drugs for inflammatory diseases, cancer, and diabetes. The Company has drug candidates in human clinical trials and additional programs in preclinical studies.
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