On December 14, 2020 I-Mab (the "Company") (Nasdaq: IMAB), a clinical stage biopharmaceutical company committed to the discovery, development and commercialization of novel biologics, reported that I-Mab’s American Depositary Shares (ADS) have been selected for inclusion in the NASDAQ Biotechnology Index (Nasdaq: NBI), based on the results of the annual reconstitution of the index announced by Nasdaq on December 11, 2020 (Press release, I-Mab Biopharma, DEC 14, 2020, View Source [SID1234572835]). The inclusion will become effective prior to the U.S. market open on Monday, December 21, 2020.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Launched in 1993, the NBI is a modified market-cap weighted index 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 NBI, as a major global biotech equity index, is widely followed and tracked by many investors and Exchange Traded Funds (ETF) products worldwide.
Mr. Jielun Zhu, Director and Chief Financial Officer of I-Mab, said, "Since its IPO on Nasdaq in January 2020, I-Mab has successfully executed many important business milestones and significantly elevated its capital market profile. The inclusion in the NBI, following the first annual review by Nasdaq since our IPO, further validates I-Mab’s progress and potential in delivering value to shareholders. We look forward to sharing many more achievements in 2021 and beyond."
According to Nasdaq, the NBI is reconstituted annually in December in accordance with a set of eligibility criteria including minimum market capitalization and average daily trading volume. The index currently has 198 securities as its components. For more information about the NBI, please visit View Source