CRANBURY, N.J., May 21, 2012 (GLOBE NEWSWIRE) -- Amicus Therapeutics (Nasdaq:FOLD), a biopharmaceutical company at the forefront of developing therapies for rare and orphan diseases, today announced that the Company was added to the NASDAQ Biotechnology Index (Nasdaq:NBI) (Nasdaq:XNBI) after the close of trading on Friday, May 18, 2012.
The NBI includes securities of biotechnology or pharmaceutical companies listed on the NASDAQ Stock Market® and serves as the basis for the iShares NASDAQ Biotechnology Index Fund (Nasdaq:IBB). Eligibility criteria for Amicus and all new additions to the NBI also included a minimum market capitalization of $200 million, and an average daily volume of at least 100,000 shares.
John F. Crowley, Chairman and Chief Executive Officer of Amicus stated, "Amicus is pleased to join the leading biotechnology and pharmaceutical companies in the NASDAQ Biotechnology Index. We believe that Amicus' inclusion in the NBI reflects our continued progress as we approach significant milestones and further advance toward becoming a fully-integrated biopharmaceutical company."
The NBI securities are evaluated semi-annually, and must maintain a minimum market capitalization of $100 million and average daily volume of at least 50,000 shares in order to remain in the index. Securities are added and removed from the NBI on a semi-annual basis, effective after the close of trading on the third Friday in May and November.
More information on the NBI is available on NASDAQ's website at: https://indexes.nasdaqomx.com/docs/methodology_NBI.pdf
About Amicus Therapeutics
Amicus Therapeutics (Nasdaq:FOLD) is a biopharmaceutical company at the forefront of developing therapies for rare and orphan diseases. The Company is developing orally-administered, small molecule drugs called pharmacological chaperones, a novel, first-in-class approach to treating a broad range of diseases including lysosomal storage disorders and diseases of neurodegeneration. Amicus' lead program migalastat HCl is in Phase 3 for the treatment of Fabry disease.
Source: Amicus Therapeutics, Inc.
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