Alvotech Boosts Market Presence with Nasdaq Inclusion
Alvotech is set to join the Nasdaq Biotechnology Index on December 23, 2024, enhancing its visibility in the biotech market.
Overview of Alvotech’s Nasdaq Index Inclusion
Alvotech, a company dedicated to biosimilar medicines, will be included in the Nasdaq Biotechnology Index (NBI) starting December 23, 2024. This index features Nasdaq-listed companies within the Biotechnology and Pharmaceuticals categories. To qualify, companies must meet specific requirements, such as having a minimum market capitalization and average daily trading volume. Alvotech intends to lead the biosimilar industry, with approved treatments for autoimmune disorders and cancer and a robust pipeline of candidates in development. The company has also forged various commercial partnerships to extend its global reach.
Advantages of Inclusion in the Nasdaq Biotechnology Index
- Alvotech’s entry into the Nasdaq Biotechnology Index (NBI) will improve its visibility and standing in the investment community focused on healthcare.
- This listing could attract a wider range of institutional and retail investors, potentially boosting stock liquidity and value.
- Being part of this significant index confirms that Alvotech meets rigorous market standards, strengthening its growth potential within the biosimilars market.
Challenges Ahead for Alvotech
- Announcing its inclusion may raise expectations, putting pressure on Alvotech to sustain its eligibility criteria and affecting its stock performance.
- The forward-looking statements raise concerns about regulatory approvals and clinical studies, underscoring uncertainties in Alvotech’s future operations.
- Risks from macroeconomic factors like inflation and geopolitical issues may expose Alvotech to external vulnerabilities that could threaten growth and profits.
Frequently Asked Questions
When does Alvotech join the Nasdaq Biotechnology Index?
Alvotech will be included in the Nasdaq Biotechnology Index on December 23, 2024, at the market open.
What are the requirements for entering the Nasdaq Biotechnology Index?
Requirements include having a minimum market capitalization and consistent daily trading volumes that comply with Nasdaq’s standards.
Who founded Alvotech?
Alvotech was established by Robert Wessman, who concentrates on developing biosimilar medicines.
Which biosimilars are developed by Alvotech?
Alvotech has created and sold biosimilars for Humira® and Stelara® in many international markets.
What is Alvotech’s primary focus?
The company is committed to developing biosimilar medicines to serve patients globally, aiming to lead in this area.
Disclaimer: This article summarizes a press release from GlobeNewswire. The AI model may include inaccuracies. Please refer to the complete release for accurate details.
Recent Hedge Fund Activity Involving $ALVO
In the most recent quarter, 13 institutional investors increased their holdings in $ALVO, while 16 investors reduced theirs.
Here are some of the notable changes:
To monitor hedge funds’ investments, visit Quiver Quantitative’s institutional holdings dashboard.
Full Press Release Details
- The upcoming addition is part of the annual reconstitution of the Nasdaq Biotechnology Index (NBI).
- Criteria for inclusion involve minimum market capitalization and daily trading volumes.
REYKJAVIK, Iceland, Dec. 23, 2024 (GLOBE NEWSWIRE) — Alvotech (NASDAQ: ALVO) has announced that it will be added to the Nasdaq Biotechnology Index (NASDAQ: NBI) as part of its annual update. This change will take effect when the U.S. market opens on December 23, 2024.
The Nasdaq Biotechnology Index includes securities of Nasdaq-listed companies classified as either Biotechnology or Pharmaceuticals. The index uses a modified capitalization-weighted methodology. Companies in the NBI must meet specific eligibility criteria, which include minimum market capitalization and average daily trading volume. New constituents are selected once a year, in December.
About Alvotech
Founded by Robert Wessman, Alvotech focuses on developing and manufacturing biosimilar medicines globally. The company aims to lead in the biosimilar field by providing high-quality, cost-effective products. Two of its biosimilars—Humira® (adalimumab) and Stelara® (ustekinumab)—are already approved and sold in various markets. Alvotech has nine more biosimilar candidates under development for conditions such as autoimmune and eye disorders, osteoporosis, respiratory diseases, and cancer. The company has established partnerships to extend its reach in regions including the U.S., Europe, Japan, and parts of South America and Africa.
For further information, please visit Alvotech’s website. This content is not part of the press release.
Forward-Looking Statements
Some statements in this communication may be “forward-looking statements” under the Private Securities Litigation Reform Act of 1995.
Alvotech’s Forward-Looking Statements: What Investors Should Know
Alvotech reveals insights about its expectations in the current financial landscape, but uncertainty remains.
Statements made by Alvotech often relate to future events or the company’s financial performance. For instance, the company discusses its expectations regarding competitive advantages, business opportunities, and product development. These forward-looking statements may also touch on future plans, regulatory submissions, potential product approvals, and market launches.
You can often identify these forward-looking statements by terms like “may,” “expect,” “anticipate,” and “believe.” Despite their optimistic tone, they carry significant risks and uncertainties that could cause actual results to diverge from those expectations.
Alvotech bases its forward-looking statements on estimates and assumptions that seem reasonable, but these are inherently uncertain. Several factors could lead to actual results differing from projections, including:
- The company’s ability to meet criteria for stock index inclusion.
- Maintaining standards for stock exchange listings.
- Changes in laws or regulations that could impact operations.
- The effect of economic and competitive pressures on the business.
- Estimates regarding expenses and profit margins.
- Development, manufacturing, and commercialization capabilities for products in the pipeline.
- Regulatory actions that may affect clinical studies or approvals.
- Responding effectively to regulatory inspections.
- Enrolling and retaining patients in clinical trials.
- Approval for clinical study plans and sites.
- The effectiveness of partnerships in conducting clinical studies.
- Gaining regulatory approvals for product expansion.
- The success of collaborations and licensing agreements.
- Commercialization strategies for approved products.
- Manufacturing sufficient product supply.
- Outcomes of ongoing or future litigation.
- The impact of worsening macroeconomic conditions, including inflation and geopolitical tensions, on business strategy and performance.
- Additional risks outlined in Alvotech’s filings with the SEC.
Alvotech warns that there may be risks not currently known or considered insignificant that could also impact results. Consequently, it advises against placing undue reliance on these forward-looking statements, which reflect expectations as of the date they were made and will not be updated.
Furthermore, Alvotech disclaims liability for any losses or damages resulting from this communication. Readers should note that they cannot hold Alvotech or its representatives liable for the information provided or omitted within this communication.
Contact Information
ALVOTECH INVESTOR RELATIONS AND GLOBAL COMMUNICATIONS
Benedikt Stefansson, VP
alvotech.ir@alvotech.com
This article was originally published on Quiver News. Read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
