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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