NEW YORK, Nov. 10, 2006 (PRIMEZONE) -- The Nasdaq Stock Market, 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, November 20, 2006.
The re-ranking will result in 11 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, Draxis Health Inc. (Nasdaq:DRAX) 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 generally correspond to the price and yield performance of the NASDAQ Biotechnology Index before fees and expenses. In addition, options based on the NASDAQ Biotechnology Index and the iShares Nasdaq Biotechnology Index Fund trade on various exchanges.
NASDAQ is the largest U.S. electronic screen-based equity securities market in the United States. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.
The Industry Classification Benchmark ("ICB") is jointly owned by FTSE International Limited ("FTSE") and Dow Jones & Company, Inc.
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iShares are distributed by SEI Investments Distribution Co. Barclays Global Fund Advisors serves as an advisor to iShares and is a subsidiary of Barclays Global Investors, N.A., neither of which is affiliated with SEI. For a prospectus, call 1-800-iSHARES (1-800-474-2737).
IShares are not FDIC Insured. Have No Bank Guarantee. May Lose Value.
Company Briefs
Acorda Therapeutics, Inc. (Nasdaq:ACOR) is a biotechnology company that is developing therapies for spinal cord injury and related neurological conditions, including multiple sclerosis. Additionally, Acorda is developing multiple approaches to regeneration and repair of the spinal cord and brain.
Allos Therapeutics, Inc. (Nasdaq:ALTH) is a biopharmaceutical company focused on the development and commercialization of small molecule therapeutics for the treatment of cancer.
Altus Pharmaceuticals Inc. (Nasdaq:ALTU) is a biopharmaceutical company focused on the development and commercialization of oral and injectable protein therapeutics for chronic gastrointestinal and metabolic disorders.
Auxilium Pharmaceuticals Inc. (Nasdaq:AUXL) develops and commercializes pharmaceutical products that target urologic and sexual health disorders.
Avanir Pharmaceuticals (Nasdaq:AVNR) is a drug discovery and development company focused on novel treatments for chronic diseases.
Coley Pharmaceutical Group, Inc. (Nasdaq:COLY) is a biotechnology company that develops a new class of investigational drug candidates that direct the human immune system to fight cancers, infectious diseases and asthma and allergy.
Labopharm Inc. (Nasdaq:DDSS) is an international specialty pharmaceutical company focused on the development of drugs incorporating the Company's proprietary advanced controlled-release technologies.
Emisphere Technologies, Inc. (Nasdaq:EMIS) is developing technologies which are intended to surmount the obstacles associated with the oral administration of many currently injectable therapeutic agents. The Company and its partners are developing oral formulations of heparin products and protein therapeutics.
Ligand Pharmaceuticals Incorporated (Nasdaq:LGND) develops drugs which regulate hormone activated intracellular receptors. These receptors play a role in regulating the genetic processes affecting diseases such as gynecological disorders, certain cancers, as well as cardiovascular, inflammatory, and skin diseases.
Omrix Biopharmaceuticals, Inc. (Nasdaq:OMRI) develops and markets biosurgical and passive immunotherapy products derived from human plasma. The Company's products are used to treat immune deficiencies and infectious diseases.
Xenoport, Inc. (Nasdaq:XNPT) is biopharmaceutical company focused on developing a portfolio of internally discovered product candidates that utilize the body's natural nutrient transporter mechanisms to improve the therapeutic benefits of existing drugs.