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Quantum-Si (Nasdaq: QSI), a life science instrumentation firm commercializing a distinctive protein sequencing technology, has been added to the Nasdaq Biotechnology Index (Nasdaq: NBI).
Nasdaq will implement the upgrade determined by market performance. The update is based on Nasdaq’s annual reconstitution of the index, which was announced on December 10, 2021, and will take effect ahead of the U.S. market’s opening on Monday, December 20, 2021.
Quantum-Si is a research and development firm that was created by Dr. Jonathan Rothberg in 2013 to revolutionize the field of proteomics. The Company’s DNA sequencing technology is based on a first-of-its-kind semiconductor chip that allows single-molecule next-generation protein sequencing. The semiconductor chip digitizes proteomic research to advance drug discovery and diagnostics beyond what has been possible with DNA sequencing.
About Nasdaq Biotechnology Index
The Nasdaq Biotechnology Index, which was established in 1993 and is a modified market-cap weighted index that tracks the performance of a set of stocks listed on The Nasdaq Stock Market (Nasdaq) that are classified as biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB), is one of several indexes.
The Nasdaq Biotechnology Index is the most selective, with companies having to satisfy many stringent criteria to join. Among other things, a firm must have a minimum market capitalization, average daily trading volume, and seasoning as a public corporation to join the Nasdaq Biotechnology Index.