Dual-listed Mesoblast joins Nasdaq biotechnology index
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The news: Mesoblast shares gained on the ASX after the dual-listed biotech company confirmed it has been added to the Nasdaq biotechnology index.
The numbers: Mesoblast shares were up 1.42% to $1.99 by 2pm AEDT, having surged more than 500% since March.
The context: The Melbourne-based company, which develops allogeneic cellular medicines for inflammatory diseases, will join the Nasdaq biotechnology index after the US market opens on 23 December.
The index contains shares of Nasdaq-listed companies classified as either biotechnology or pharmaceuticals, with a minimum market capitalisation and average daily trading volume, among other criteria.
Nasdaq selects constituents for the index once annually in December.
The source: ASX announcement
