According to the exchange, all securities being added to the Index will be phased into Nasdaq's Opening Cross on Nov. 16.
A total of 11 companies were added to the index and two were removed during the Nasdaq's update.
Securities currently in the Index must meet the maintenance criteria of $100 million in market capitalization and 50,000 shares average daily trading volume, according to the Nasdaq.
With Third Wave, 143 companies trade as part of the Biotech Index. Among them are the genomics companies Accelrys, Affymetrix, Caliper Life Sciences, Ciphergen Biosystems, DeCode Genetics, Gene Logic, Harvard Bioscience, Illumina, Invitrogen, Orchid Biosciences, and Qiagen.
"Index securities not meeting the maintenance criteria are retained in the Index provided that such security met the maintenance criteria in the previous semi-annual ranking," the exchange said on its web site. "Securities not meeting the maintenance criteria for two consecutive rankings are removed."
Changes occur after the close of trading on the third Friday in May and November using March and September closing price and volume data and April and October publicly available total share outstanding data, the Nasdaq said.
Click here for more information about the Nasdaq biotech index.