On December 21, 2020 Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs), reported that it has been added to the Nasdaq Biotechnology Index (Nasdaq: NBI), which became effective prior to market open on Monday, December 21, 2020 (Press release, Avidity Biosciences, DEC 21, 2020, View Source [SID1234573182]).

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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 re-ranked annually and all securities in the index are listed on the NASDAQ Global Market or the NASDAQ Global Select Market and meet minimum market value and share volume requirements among other criteria. The NASDAQ Biotechnology Index is the basis for the iShares NASDAQ Biotechnology IndexSM Fund. In addition, options based on the iShares NASDAQ Biotechnology Index Fund trade on various exchanges. For more information about the NASDAQ Biotechnology Index visit View Source