Rexahn Pharmaceuticals Added to Russell 3000 Index
ROCKVILLE, Md.--(BUSINESS WIRE)--
Rexahn Pharmaceuticals, Inc. (AMEX:RNN), a biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative treatments for cancer, central nervous system disorders, sexual dysfunction and other unmet medical needs, announced today that it has been added to the broad-market Russell 3000(R) Index as part of Russell Investments' recent reconstitution of its comprehensive set of U.S. and global equity indexes which occurred on June 27, 2008.
The Russell 3000(R) Index measures the performance of the largest 3,000 U.S. companies. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. Membership in the Russell 3000(R), which remains in place for one year, means automatic inclusion for Rexahn Pharmaceuticals in the Russell 2000(R) Index as well as the appropriate growth and value style indexes. The Russell 3000(R) also serves as the U.S. component to the Russell Global Index, which Russell launched last year.
Dr. Chang H. Ahn, Chairman and Chief Executive Officer of Rexahn, noted, "We are delighted that Rexahn will be included in the Russell 3000(R) Index. This is certainly a milestone for our company and reflects the progress we have made over the last year, both in products and business development. It also reflects our recent success in the U.S. financial market. Our inclusion in the index will bring increased visibility among the investment community and potentially lead to a broader shareholder base."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4.4 trillion in assets currently are benchmarked to them. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
About Rexahn Pharmaceuticals, Inc.
Rexahn Pharmaceuticals is a biopharmaceutical company leveraging its proprietary technology platform to discover, develop and commercialize innovative treatments for cancer, central nervous system disorders, sexual dysfunction and other unmet medical needs. Rexahn's compounds are designed to uniquely treat various disease states while significantly minimizing side effects in order to allow patients to regain their quality of life. For Additional information about Rexahn visit www.rexahn.com.
Safe Harbor
This press release contains statements (including projections and business trends) that are forward-looking statements. Rexahn's actual results may differ materially from the anticipated results and expectations expressed in these forward-looking statements as a result of certain risks and uncertainties, including, Rexahn's lack of profitability, its auditor's going concern qualification and the need for additional capital to operate its business to develop its product candidates; the risk that Rexahn's development efforts relating to its product candidates may not be successful; the possibility of being unable to obtain regulatory approval of Rexahn's product candidates; the risk that the results of clinical trials may not be completed on time or support Rexahn's claims; demand for and market acceptance of Rexahn's drug candidates; Rexahn's reliance on third party researchers and manufacturers to develop its product candidates; Rexahn's ability to develop and obtain protection of its intellectual property; and other risk factors set forth from time to time in our filings with the Securities and Exchange Commission. These forward-looking statements are made as of the date hereof; Rexahn assumes no obligation to update these forward-looking statements.
Source: Rexahn Pharmaceuticals, Inc.
Released June 30, 2008