Acorda joins new Nasdaq index
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- September
- 25
Acorda Therapeutics Inc., a Hawthorne-based biotech company developing treatments for multiple sclerosis and spinal cord injuries, has been chosen as one of 32 inaugural members of the new Nasdaq NeuroInsights Neurotech Index.
The index is the first to track the performance of companies researching, developing and manufacturing therapies and medical devices for disorders of the brain and nervous system.
This is a hot area because brain-related illnesses affect more than 2 billion people around the world and the associated yearly economic cost is more than $2 trillion, according to data from Nasdaq. Venture capital investment in neurotech rose 7.5 percent to $1.67 billion in 2006.
The companies in the index are involved in fighting such diseases as Alzheimer’s, addiction, anxiety, depression, epilepsy, multiple sclerosis, obesity, pain, Parkinson’s, schizophrenia, sensory disorders, sleep disorders, stroke, and traumatic brain injury.
Nasdaq said the companies must also meet “rigorous� market criteria, including a $200 million market capitalization and a three-month average daily trading volume of 100,000 shares.
Acorda’s market cap is $472 million and its three-month average trading volume is 385,245 shares.
The index began calculation with a value of 150.00 today. The price return version of the index can be tracked with the ticker symbol NERV. The total return version will be calculated under the symbol NRVX.
This entry was posted
on Tuesday, September 25th, 2007 at 5:06 pm by Julie Moran Alterio.
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