Ambrx to be Added to the NASDAQ Biotechnology Index (NBI)

Rhea-AI Summary

Ambrx Biopharma, Inc. (AMAM) will be added to the NASDAQ Biotechnology Index (NBI), effective December 18, 2023. This follows a transformational year for Ambrx, including voluntarily transferring to Nasdaq from the New York Stock Exchange, changing parent company domicile to Delaware, and terminating the ADS program. CEO Daniel J. O’Connor believes these changes may enhance long-term shareholder value and increase the company's profile in the investment community.

SAN DIEGO, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Ambrx Biopharma, Inc., or Ambrx, (NASDAQ: AMAM), today announced that the Company will be added to the NASDAQ Biotechnology Index (NASDAQ: NBI), effective prior to the market open on Monday, December 18, 2023.

“2023 has been a transformational year for Ambrx, especially for our publicly held securities. We voluntarily transferred to Nasdaq from the New York Stock Exchange, we changed our parent company domicile to Delaware from the Cayman Islands and we terminated our ADS program, resulting in our common stock being listed on Nasdaq,” said Daniel J. O’Connor, Chief Executive Officer of Ambrx. “Now, at the end of the year and due to these actions taken, we are being added to the NBI. We believe these changes may help to enhance long-term shareholder value and further increase our profile in the investment community.”

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 companies and is a modified market capitalization weighted index. The NBI is reconstituted annually in December in accordance with a set of eligibility criteria including minimum market capitalization and average daily trading volume, among other criteria.

To learn more about the NASDAQ Biotechnology Index, visit this link.

About Ambrx Biopharma, Inc.

Ambrx is a clinical-stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop next-generation antibody drug conjugates (ADCs) and other engineered therapies to modulate the immune system. Ambrx is advancing a focused portfolio of clinical and preclinical programs designed to optimize efficacy and safety in multiple cancer indications, including ARX517, its proprietary ADC targeting the prostate-specific membrane antigen (PSMA) and ARX788, its proprietary ADC targeting HER2. In addition, Ambrx has preclinical and clinical collaborations with multiple partners on drug candidates generated using Ambrx technology. Ambrx was spun out of The Scripps Research Institute in 2003 and has several other product candidates involving ADCs and other aspects of Ambrx’s protein engineering technology. For more information, please visit www.ambrx.com. Ambrx routinely posts information that may be important to investors on its website.

Forward-Looking Statements

This press release includes certain “forward-looking statements” intended to qualify for the “safe harbor” from liability established by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by the words “intend,” “plan,” and similar expressions, are based on Ambrx’s current expectations, and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: Ambrx’s ability to execute on its strategy, including with respect to the timing of its R&D efforts, initiation of clinical trials and other anticipated milestones; the development and marketing approval of novel therapeutics, including potential delays in clinical trials and regulatory submissions and the fact that future clinical trial results/data may not be consistent with interim, initial or preliminary results/data or results/data from prior preclinical studies or clinical trials; Ambrx’s ability to fund operations as anticipated; and the additional risks and uncertainties set forth more fully under the caption “Risk Factors” in Ambrx’s Quarterly Report on Form 10-Q filed with the SEC on November 13, 2023, and elsewhere in Ambrx’s reports filed with the SEC. Forward-looking statements contained in this press release are made as of this date, and Ambrx undertakes no duty to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

Contacts

INVESTORS
Mike Moyer
LifeSci Advisors
617-308-4306
mmoyer@lifesciadvisors.com

MEDIA
Karissa Cross, Ph.D.
LifeSci Communications
615-651-4622
media@ambrx.com

Source: Ambrx Biopharma, Inc.

FAQ

When will Ambrx, Inc. be added to the NASDAQ Biotechnology Index (NBI)?

Ambrx, Inc. will be added to the NASDAQ Biotechnology Index (NBI) effective prior to the market open on Monday, December 18, 2023.

What changes did Ambrx, Inc. undergo in 2023?

In 2023, Ambrx, Inc. voluntarily transferred to Nasdaq from the New York Stock Exchange, changed parent company domicile to Delaware from the Cayman Islands, and terminated the ADS program, resulting in the common stock being listed on Nasdaq.

What is the NASDAQ Biotechnology Index (NBI)?

The NASDAQ Biotechnology Index (NBI) is designed to track the performance of a set of securities listed on The NASDAQ Stock Market that are classified as biotechnology or pharmaceutical companies and is a modified market capitalization weighted index.

How often is the NBI reconstituted?

The NBI is reconstituted annually in December in accordance with a set of eligibility criteria including minimum market capitalization and average daily trading volume, among other criteria.