NEW YORK, May 13 /PRNewswire-FirstCall/ -- The Nasdaq Stock Market, Inc. (“NASDAQ”) announced today the results of the semi-annual re- ranking of the NASDAQ Biotechnology Index(R) , which will become effective with the market open on Monday, May 23, 2005.
The re-ranking will result in 10 securities being added to the Index. All securities are classified according to the FTSE Global Classification System(TM) as biotechnology or pharmaceutical. The securities that meet the classification criteria then must meet other Index eligibility criteria including listing on the NASDAQ National Market(R) 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 http://www.nasdaq.com/.
As a result of the re-ranking, Avigen Inc , EXACT Sciences Corporation , Forbes Medi-Tech Inc. , Gen-Probe Incorporated , and Maxim Pharmaceuticals, Inc. will be removed from the Index.
The NASDAQ Biotechnology Index is the basis for the iShares Nasdaq Biotechnology Index(SM) Fund , 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 stock market. 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 FTSE Global Classification System is compiled by FTSE International Limited. (C)FTSE International Limited 2004.
FTSE(TM) is a trademark of the London Stock Exchange Plc and The Financial Times Limited and is used by FTSE International Limited under license.
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
Barrier Therapeutics, Inc. is a pharmaceutical company focused on the discovery, development and commercialization of pharmaceutical products in the field of dermatology.
Cardiome Pharma Corp. is a life sciences company focused on developing proprietary drugs to treat or prevent cardiovascular diseases.
DRAXIS Health Inc. is a specialty pharmaceutical company providing products in three categories; sterile pharmaceuticals, non-sterile specialty pharmaceuticals, and radiopharmaceuticals.
Genitope Corporation is a biotechnology company focused on the research and development of novel immunotherapies for the treatment of cancer.
Idenix Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of human viral and other infectious diseases.
ISTA Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the commercialization and development of proprietary therapeutic products that treat diseases and disorders of the eye.
MannKind Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic products for diseases such as diabetes and cancer.
Progenics Pharmaceuticals, Inc. is a biopharmaceutical company focusing on the development and commercialization of products for the treatment of HIV infection and cancer.
Tercica, Inc. is a biopharmaceutical company focused on the development and commercialization of new therapeutics for the treatment of short stature and other related metabolic disorders.
ViroLogic, Inc. is a biotechnology company that discovers, develops and markets products to guide and improve treatment of serious infectious diseases and cancer.
NASDAQ
CONTACT: Media Contact: Wayne Lee, +1-301-978-4875, or Issuer andInvestor Contact: Lisa Chaney, +1-301-978-8281, both of NASDAQ