West Lafayette-based Endocyte Inc. (Nasdaq: ECTY) is now part of the Nasdaq Biotechnology Index. The company says the criteria for the index include minimum market capitalization and average trading volume.
Endocyte says the NBI contains securities of companies listed on the Nasdaq that meet certain eligibility criteria and are classified as either biotechnology or pharmaceuticals.
Last month, Endocyte reported a third quarter net loss of $23.3 million. However, during that quarter, the company acquired a late-stage prostate cancer therapy for which Chief Executive Officer Mike Sherman says the company could begin clinical trials early next year.