NEW YORK, May 9, 2008 (PRIME NEWSWIRE) -- 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.
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.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX technology supports the operations of over 60 exchanges, clearing organizations and central securities depositories in more than 50 countries. OMX Nordic Exchange is not a legal entity but describes the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.
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
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, and cancer. The Company has drug candidates in human clinical trials and additional programs in preclinical studies.
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