BOTHELL, Wash., Dec. 16, 2014 (GLOBE NEWSWIRE) -- Alder BioPharmaceuticals, Inc. (Nasdaq:ALDR), a clinical-stage biopharmaceutical company developing monoclonal antibody therapeutics for the treatment of migraine, autoimmune and inflammatory diseases, announced today that it has been selected for addition to the NASDAQ Biotechnology Index (Nasdaq:^NBI). The addition to the NASDAQ Biotechnology Index will become effective upon market open on Monday, December 22, 2014.
The NASDAQ Biotechnology Index is designed to track the performance of a set of securities listed on the NASDAQ Stock Market® (NASDAQ®) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB). The NASDAQ Biotechnology Index is re-ranked annually and all securities in the index are listed on the NASDAQ Global Market or the NASDAQ Global Select Market, and meet minimum market value and share volume requirements among other criteria.
The NASDAQ Biotechnology Index is the basis for the iShares NASDAQ Biotechnology Index(SM) Fund (Nasdaq:IBB). In addition, options based on the iShares NASDAQ Biotechnology Index Fund trade on various exchanges. For more information about the NASDAQ Biotechnology Index visit www.nasdaq.com.
"We're pleased to meet the criteria for inclusion into an influential biotechnology index such as the NBI," said Randall C. Schatzman, Ph.D., President and Chief Executive Officer, Alder BioPharmaceuticals. "This addition is another milestone for Alder as we continue to evolve as a publicly-traded company."
About Alder BioPharmaceuticals
Alder BioPharmaceuticals, Inc. is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder's ALD403 inhibits a well-validated molecule shown to trigger migraine attacks, calcitonin gene-related peptide (CGRP), and is now undergoing clinical testing. Alder advanced ALD403 into a Phase 2b trial for the treatment of chronic migraines and plans to initiate a Phase 2b trial for the treatment of frequent episodic migraines in the first half of 2015. Alder's second program, Clazakizumab, previously known as ALD518, is designed to block the pro-inflammatory cytokine IL-6 and has completed a Phase 2b clinical trial. For more information, please visit http://www.alderbio.com.
This press release contains forward-looking statements, including statements regarding our expectations for the initiation of future clinical trials and the potential of ALD403 to address the unmet medical needs of patients. All forward-looking statements included in this press release are based on our management's beliefs and assumptions and on information currently available to our management, and we assume no obligation to update any such forward-looking statements. Any or all of our forward-looking statements in this document may turn out to be wrong and actual events or results may differ materially. Our forward-looking statements can be affected by inaccurate assumptions we might make or by known or unknown risks, uncertainties and other factors. In evaluating these statements, you should specifically consider various factors, including the risks outlined under the caption "Risk Factors" set forth in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2014, which was filed with the Securities and Exchange Commission (SEC) on November 3, 2014, and is available on the SEC's website at www.sec.gov. Additional information will also be set forth in our other reports and filings we will make with the SEC from time to time. We caution investors that our business and financial performance are subject to substantial risks and uncertainties.
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