Mustang Bio, Inc., a biopharmaceutical company based in Worcester, has been added to the NASDAQ Biotechnology Index, a market-cap weighted index designed to track the performance of biotech and pharmaceutical companies listed on the stock market, according to a Dec. 16 press release from the company.
Mustang Bio was added to the index on Dec. 20.
The NBI is re-ranked every year based on a modified capitalization-weighted methodology. Companies included in the index must meet certain requirements, such as a minimum market capitalization and average daily trading volume.
The index also forms the basis for many Exchange Traded Funds, like the iShares NASDAQ Biotechnology ETF, according to the release.
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