Solid Biosciences Added to the Nasdaq Biotechnology Index
Rhea-AI Summary
Solid Biosciences (Nasdaq: SLDB), a life sciences company focused on precision genetic medicines for neuromuscular and cardiac diseases, has been added to the Nasdaq Biotechnology Index® (NBI) effective December 23, 2024. The NBI tracks performance of biotechnology and pharmaceutical securities listed on Nasdaq, using a modified capitalization-weighted methodology. Companies must meet specific eligibility criteria including minimum market capitalization, daily trading volume, and public company seasoning requirements. Index constituents are selected annually in December.
Positive
- Addition to Nasdaq Biotechnology Index increases visibility and potential institutional investment exposure
- Company meets minimum market cap and trading volume requirements for index inclusion
Negative
- None.
News Market Reaction – SLDB
On the day this news was published, SLDB gained 1.95%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CHARLESTOWN, Mass., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Solid Biosciences Inc. (Nasdaq: SLDB) (the “Company” or “Solid”), a life sciences company developing precision genetic medicines for neuromuscular and cardiac diseases, today announced that it was added to the Nasdaq Biotechnology Index® (Nasdaq: NBI) effective prior to the market open on Monday, December 23, 2024.
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 NBI is calculated under a modified capitalization-weighted methodology. Companies in the NBI 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 https://indexes.nasdaqomx.com/Index/Overview/NBI.
About Solid Biosciences
Solid Biosciences is a precision genetic medicine company focused on advancing a portfolio of gene therapy candidates including SGT-003 for the treatment of Duchenne muscular dystrophy (Duchenne), SGT-501 for the treatment of catecholaminergic polymorphic ventricular tachycardia (CPVT), SGT-601 for the treatment of TNNT2-mediated dilated cardiomyopathy, SGT-401 for the treatment of BAG3-mediated dilated cardiomyopathy, and additional assets for the treatment of fatal cardiac diseases. Solid is advancing its diverse pipeline across rare neuromuscular and cardiac diseases, bringing together experts in science, technology, disease management, and care. Patient-focused and founded by those directly impacted, Solid’s mandate is to improve the daily lives of patients living with these devastating diseases. For more information, please visit www.solidbio.com.
Solid Biosciences Investor Contact:
Nicole Anderson
Director, Investor Relations and Corporate Communications
Solid Biosciences Inc.
investors@solidbio.com
Media Contact:
Glenn Silver
FINN Partners
glenn.silver@finnpartners.com
FAQ
When was Solid Biosciences (SLDB) added to the Nasdaq Biotechnology Index?
What are the requirements for joining the Nasdaq Biotechnology Index that SLDB met?
How often does the Nasdaq Biotechnology Index update its constituents?
What type of weighting methodology does the NBI use for stocks like SLDB?
