KemPharm to be Added to the Nasdaq Biotechnology Index Effective December 20, 2021
December 13 2021 - 4:05PM
KemPharm, Inc. (NASDAQ: KMPH), a specialty pharmaceutical
company focused on the discovery and development of proprietary
prodrugs, today announced its common stock has been added to
the Nasdaq Biotechnology Index (Nasdaq: NBI) in accordance with an
annual reconstitution of the index. KemPharm’s inclusion in the
Nasdaq Biotechnology Index will become effective prior to market
open on Monday, December 20, 2021.
“We are pleased that KemPharm has been added to
the Nasdaq Biotechnology Index, which further raises our profile in
the investment community given the importance of the index to funds
and portfolio managers focused on the biotechnology sector,”
said Travis C. Mickle, Ph.D., President and Chief Executive
Officer of KemPharm. “Our inclusion in the Nasdaq Biotechnology
Index follows the recent uplisting of our stock to The Nasdaq
Global Select Market in October and continues what has been a
transformative year for our listing and our company as a
whole.”
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
calculated under a modified capitalization-weighted methodology.
Companies in the Nasdaq Biotechnology Index must meet eligibility
requirements, including minimum market capitalization, average
daily trading volume and seasoning as a public company, among other
criteria. Nasdaq selects constituents once annually in
December.
For more information about the Nasdaq Biotechnology
Index, please
visit https://indexes.nasdaqomx.com/Index/Overview/NBI.
About KemPharm:
KemPharm is a specialty pharmaceutical company
focused on the discovery and development of proprietary prodrugs to
treat serious medical conditions through its proprietary LAT®
(Ligand Activated Therapy) technology. KemPharm utilizes its
proprietary LAT® technology to generate improved prodrug versions
of FDA-approved drugs as well as to generate prodrug versions of
existing compounds that may have applications for new disease
indications. KemPharm’s prodrug product candidate pipeline is
focused on the high need areas of attention deficit hyperactivity
disorder, or ADHD, stimulant use disorder (SUD) and CNS rare
diseases, including idiopathic hypersomnia (IH). In addition, the
U.S. Food and Drug Administration (FDA) has approved AZSTARYS®, a
once-daily treatment for ADHD in patents age six years and older
containing KemPharm’s prodrug, serdexmethylphenidate (SDX), and
APADAZ®, an immediate-release combination product containing
benzhydrocodone, KemPharm’s prodrug of hydrocodone, and
acetaminophen. For more information on KemPharm and its pipeline of
prodrug product candidates visit www.kempharm.com or connect with
us on Twitter, LinkedIn, Facebook and YouTube.
Caution Concerning Forward Looking
Statements:
This press release may contain forward-looking
statements made in reliance upon the safe harbor provisions of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include all statements that do not
relate solely to historical or current facts and can be identified
by the use of words such as “may,” “will,” “expect,” “project,”
“estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,”
“continue” or the negative versions of those words or other
comparable words. Forward-looking statements are not guarantees of
future actions or performance. These forward-looking statements are
based on information currently available to KemPharm and its
current plans or expectations and are subject to a number of
uncertainties and risks that could significantly affect current
plans. Risks concerning KemPharm’s business are described in detail
in KemPharm’s Quarterly Report on Form 10-Q for the quarter ended
September 30, 2021, and KemPharm’s other filings with the
Securities and Exchange Commission. KemPharm is under no obligation
to, and expressly disclaims any such obligation to, update or alter
its forward-looking statements, whether as a result of new
information, future events or otherwise.
KemPharm Contacts:
Tiberend Strategic Advisors, Inc.Jason
Rando/Maureen McEnroe, CFA(212) 375-2665 /
2664jrando@tiberend.commmcenroe@tiberend.com
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