On December 14, 2021 Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) a clinical-stage biotechnology company developing eganelisib, a potentially first-in-class, oral, immuno-oncology macrophage reprogramming therapeutic, reported it has been selected for addition to the NASDAQ Biotechnology Index (NASDAQ: NBI), effective as of market open on Monday, December 20, 2021 (Press release, Infinity Pharmaceuticals, DEC 14, 2021, View Source [SID1234597089]).
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The NBI is designed to track the performance of a set of securities listed on the NASDAQ Stock Market (NASDAQ), made up of NASDAQ-listed companies classified as Biotechnology & Pharmaceuticals by the Industry Classification Benchmark (ICB), and is widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. To be selected for addition to the NBI, a company must have a minimum market capitalization of $200 million; demonstrate an average daily trading volume of at least 100,000 shares; and must be Nasdaq-listed. The index is modified market capitalization-weighted such that constituents are capped at 8% (for the top 5) and at 4% (for the remaining) at each quarterly index rebalance; the entire index is reviewed and reconstituted annually in December.
"We are very gratified that Infinity’s progress has been recognized by the addition of INFI to the prestigious Nasdaq Biotechnology Index," said Adelene Perkins, Chief Executive Officer and Chair, Infinity Pharmaceuticals. "Our eganelisib data have continued to mature in very positive ways with presentations at SABCS and ASCO (Free ASCO Whitepaper) GU this year, demonstrating clinically meaningful outcomes in both metastatic triple negative breast cancer and urothelial cancer, respectively. Being included in this index is another important milestone as we continue to pursue bringing significantly better treatments to cancer patients."
For more information about the NASDAQ Biotechnology Index visit www.nasdaq.com.