Tread­ing on Nas­daq turf, NYSE cuts list­ing fees to woo biotech

By cut­ting its fees for com­pa­nies with lit­tle to no rev­enue, the New York Stock Ex­change (NYSE) is lay­ing the ground­work to break Nas­daq’s strong hold on the biotech in­dus­try.

Cheap­er list­ing fees, rel­a­tive­ly lax list­ing stan­dards and the chance to be fea­tured on the Nas­daq Biotech­nol­o­gy In­dex has tra­di­tion­al­ly made Nas­daq the biotech list­ing venue of choice. The ra­tio­nale is sound: Drug de­vel­op­ment is not cheap, and ne­ces­si­tates pa­tience. Biotech firms are typ­i­cal­ly in the red for years be­fore they are ready to take their first drug across the fin­ish line.

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