CombinatoRx Set to Join the Russell 3000 Index
June 15 2010 - 4:01PM
Business Wire
CombinatoRx, Incorporated (NASDAQ: CRXX) announced today that it
is set to join the broad-market Russell 3000® Index when Russell
Investments reconstitutes its comprehensive set of U.S. and global
equity indexes on June 25, according to a preliminary list of
additions posted June 11 on www.russell.com. CombinatoRx will
likely also be included in the Russell 2000, a subset of the
Russell 3000 index for 2,000 of the smaller companies based on
market capitalization. Initial inclusion in the Russell indexes may
lead to an increase in trading volume when investment funds that
track the index add CombinatoRx shares to their portfolios.
Annual reconstitution of Russell’s U.S. indexes captures the
4,000 largest U.S. stocks as of the end of May, ranking them by
total market capitalization. Membership in the Russell 3000, which
remains in place for one year, means automatic inclusion in the
large-cap Russell 1000® Index or small-cap Russell 2000® Index as
well as the appropriate growth and value style indexes. Russell
determines membership for its equity indexes primarily by
objective, market-capitalization rankings and style attributes.
The Russell 3000 also serves as the U.S. component to the
Russell Global Index, which Russell launched in 2007.
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 $3.9
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.
Total returns data for the Russell 3000 and other Russell
Indexes is available at
http://www.russell.com/Indexes/performance/default.asp.
About Russell:
Russell Investments provides strategic advice, world-class
implementation, state-of-the-art performance benchmarks and a range
of institutional-quality investment products. Russell has $179
billion in assets under management as of March 31, 2010, and serves
individual, institutional and advisor clients in more than 40
countries. Founded in 1936, Russell is a subsidiary of The
Northwestern Mutual Life Insurance Company.
About CombinatoRx
CombinatoRx, Incorporated (CRXX) develops novel drug candidates
with a focus on the treatment of pain and inflammation. The company
applies its combination drug discovery capabilities and its
selective ion-channel modulation platform to generate innovative
therapeutics. To learn more about CombinatoRx, please visit
www.combinatorx.com.
Forward-Looking Statement:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
concerning CombinatoRx, the trading of its securities and the
Russell indexes. These forward-looking statements about future
expectations, plans, objectives and prospects may be identified by
words like "believe," "expect," "may," "will," "should," "seek," or
“could” and similar expressions and involve significant risks,
uncertainties and assumptions, including those risks that can be
found in the "Risk Factors" section of CombinatoRx's Annual Report
on Form 10-K, on file with the Securities and Exchange Commission
and the other reports that CombinatoRx periodically files with the
Securities and Exchange Commission. Actual results may differ
materially from those CombinatoRx contemplated by these
forward-looking statements. These forward looking statements
reflect management’s current views and CombinatoRx does not
undertake to update any of these forward-looking statements to
reflect a change in its views or events or circumstances that occur
after the date of this release except as required by law.
(c) 2010 CombinatoRx, Incorporated. All rights reserved.
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