Spyre Therapeutics Added to the Nasdaq Biotechnology Index

Rhea-AI Summary

Spyre Therapeutics (NASDAQ: SYRE), a clinical-stage biotech company focused on Inflammatory Bowel Disease (IBD) treatment, has announced its addition to the Nasdaq Biotechnology Index (NBI), effective December 23, 2024. The inclusion comes as part of the NBI's annual evaluation process. Companies must meet specific eligibility criteria including minimum market capitalization, average daily trading volume, and public company seasoning requirements. The NBI tracks performance of biotechnology and pharmaceutical securities listed on Nasdaq and operates under a modified capitalization-weighted methodology.

Positive

• Addition to Nasdaq Biotechnology Index increases visibility and potential institutional investment interest
• Company meets NBI's stringent eligibility requirements, indicating strong market presence

Negative

• None.

WALTHAM, Mass., Dec. 18, 2024 /PRNewswire/ -- Spyre Therapeutics, Inc. (NASDAQ: SYRE), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches to target improved efficacy and convenience in the treatment of Inflammatory Bowel Disease ("IBD"), today announced Spyre has been added to the Nasdaq Biotechnology Index (Nasdaq: NBI), effective prior to market open, Monday, December 23, 2024.

The NBI is designed to track the performance of a set of securities listed on The Nasdaq Stock Market^® that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark. 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. The NBI is evaluated annually in December and is calculated under a modified capitalization-weighted methodology.  

For more information about the Nasdaq Biotechnology Index, please visit this link.

About Spyre Therapeutics

Spyre Therapeutics is a clinical-stage biotechnology company that aims to create next-generation inflammatory bowel disease (IBD) products by combining best-in-class antibody engineering, rational therapeutic combinations, and precision medicine approaches. Spyre's pipeline includes extended half-life antibodies targeting α4β7, TL1A, and IL-23. For more information, visit Spyre's website at www.spyre.com.

Follow Spyre Therapeutics on social media: @spyretx and LinkedIn

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SOURCE Spyre Therapeutics, Inc.

FAQ

When will Spyre Therapeutics (SYRE) join the Nasdaq Biotechnology Index?

Spyre Therapeutics will be added to the Nasdaq Biotechnology Index (NBI) effective prior to market open on Monday, December 23, 2024.

What criteria did Spyre Therapeutics (SYRE) meet to join the Nasdaq Biotechnology Index?

Companies must meet minimum market capitalization requirements, maintain specific average daily trading volume levels, and satisfy public company seasoning criteria to be included in the NBI.

How often is the Nasdaq Biotechnology Index evaluated for company inclusion?

The Nasdaq Biotechnology Index (NBI) is evaluated annually in December.

What is Spyre Therapeutics' (SYRE) main therapeutic focus?

Spyre Therapeutics focuses on developing treatments for Inflammatory Bowel Disease (IBD) using antibody engineering, rational therapeutic combinations, and precision medicine approaches.