On December 13, 2021 KemPharm, Inc. (NASDAQ: KMPH), a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs, reported its common stock has been added to the Nasdaq Biotechnology Index (Nasdaq: NBI) in accordance with an annual reconstitution of the index (Press release, KemPharm, DEC 13, 2021, View Source [SID1234597096]). KemPharm’s inclusion in the Nasdaq Biotechnology Index will become effective prior to market open on Monday, December 20, 2021.
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"We are pleased that KemPharm has been added to the Nasdaq Biotechnology Index, which further raises our profile in the investment community given the importance of the index to funds and portfolio managers focused on the biotechnology sector," said Travis C. Mickle, Ph.D., President and Chief Executive Officer of KemPharm. "Our inclusion in the Nasdaq Biotechnology Index follows the recent uplisting of our stock to The Nasdaq Global Select Market in October and continues what has been a transformative year for our listing and our company as a whole."
The Nasdaq Biotechnology Index is designed to track the performance of a set of securities listed on The Nasdaq Stock Market (Nasdaq) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB). The Nasdaq Biotechnology Index is calculated under a modified capitalization-weighted methodology. Companies in the Nasdaq Biotechnology Index must meet eligibility requirements, including minimum market capitalization, average daily trading volume and seasoning as a public company, among other criteria. Nasdaq selects constituents once annually in December.
For more information about the Nasdaq Biotechnology Index, please visit View Source