Zevra Therapeutics to be Added to Russell 2000® and Russell 3000® Indexes Effective June 26, 2023
20 Junho 2023 - 8:30AM
Zevra Therapeutics, Inc. (NasdaqGS: ZVRA) (Zevra, or the Company,
formerly KemPharm, Inc.), a rare disease therapeutics company,
announced its expected addition to the broad-market Russell 3000®
Index and small-cap Russell 2000® Index in accordance with the 2023
Russell indexes annual reconstitution. Zevra anticipates that its
inclusion in the Russell indexes will be effective after the U.S.
market opens on Monday, June 26, 2023.
“In the past year, Zevra has achieved a number
of significant milestones including: the acquisition of
arimoclomol, a Phase 3 asset in development for treatment of
Niemann-Pick disease type C; the strategic transition to a company
focused on rare disease; and the advancement of KP1077 for the
treatment of idiopathic hypersomnia and narcolepsy,” said Christal
Mickle, President, interim Chief Executive Officer and Chief
Development Officer of Zevra. “Our inclusion in these Russell 2000
and Russell 3000 indexes provides important third-party validation
of our approach to delivering long-term shareholder value, with
these indexes used as a key benchmark for a wide variety of
investors and asset managers.”
Every year FTSE Russell conducts updates to its
various indexes based on total market capitalization and style
attributes. Membership in the U.S. all-cap Russell 3000 Index
remains in place for one year and means automatic inclusion in the
appropriate growth and value style indexes, which is the small-cap
Russell 2000 Index for Zevra. The 2023 index showed noteworthy
growth in the health care industry, with a majority of the
companies moving from small-cap to large-cap coming from the health
care space.
About FTSE Russell:
FTSE Russell is a global index leader that
provides innovative benchmarking, analytics and data solutions for
investors worldwide. FTSE Russell calculates thousands of indexes
that measure and benchmark markets and asset classes in more than
70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
Approximately $20.1 trillion is currently benchmarked to FTSE
Russell indexes. For over 30 years, leading asset owners, asset
managers, ETF providers and investment banks have chosen FTSE
Russell indexes to benchmark their investment performance and
create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE
Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on applying the highest
industry standards in index design and governance and embraces the
IOSCO Principles. FTSE Russell is also focused on index innovation
and customer partnerships as it seeks to enhance the breadth, depth
and reach of its offering.
FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit
www.ftserussell.com.
About Zevra:
Zevra Therapeutics is a rare disease company
melding science, data, and patient need to create transformational
therapies for diseases with limited or no treatment options. With
unique, data-driven clinical, regulatory, and commercialization
strategies, the Company is overcoming complex drug development
challenges to bring much-needed therapies to patients.
Arimoclomol, Zevra’s orally-delivered,
first-in-class investigational product candidate for the treatment
of Niemann-Pick disease type C (NPC), has been granted orphan drug
designation, Fast Track designation, Breakthrough Therapy
designation and rare pediatric disease designation for NPC by the
U.S. Food and Drug Administration (FDA), and orphan medicinal
product designation for the treatment of NPC by the European
Medicines Agency (EMA). The arimoclomol New Drug Application (NDA)
is currently being prepared for a resubmission to the FDA.
KP1077 is Zevra’s lead clinical candidate being
developed to treat idiopathic hypersomnia (IH) and narcolepsy.
KP1077 is comprised solely of serdexmethylphenidate (SDX), Zevra’s
proprietary prodrug of d-methylphenidate (“d-MPH”). The FDA has
granted KP1077 orphan drug designation for the treatment of IH, and
the U.S. Drug Enforcement Agency (DEA) has classified SDX as a
Schedule IV controlled substance based on evidence suggesting SDX
has a lower potential for abuse when compared to d-MPH, a Schedule
II controlled substance.
Early access programs are made available by
Zevra Therapeutics, Inc. and its affiliates and are subject to the
Company's Early Access Program (EAP) policy as published on its
website at zevra.com. Participation in these programs is subject to
the laws and regulations of each jurisdiction under which each
respective program is operated. Eligibility for participation in
any such program is at the treating physician's discretion.
Caution Concerning Forward-Looking
Statements:
This press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include all
statements that do not relate solely to historical or current
facts, and which can be identified by the use of words such as
"may," "will," "expect," "project," "estimate," "anticipate,"
"plan," "believe," "potential," "should," "continue," "could,"
"intend," "target," "predict," or the negative versions of those
words or other comparable words or expressions, although not all
forward-looking statements contain these identifying words or
expressions. Forward-looking statements are not guarantees of
future actions or performance. These forward-looking statements
include without limitation statements regarding our strategic and
product development objectives, and the meaning and potential
impact of our anticipated inclusion in the Russell 2000 and 3000
indexes. Forward-looking statements are based on information
currently available to Zevra and its current plans or expectations.
They are subject to several known and unknown uncertainties, risks,
and other important factors that may cause our actual results,
performance, or achievements to be materially different from any
future results, performance, or achievements expressed or implied
by the forward-looking statements. These and other important
factors are described in detail in the "Risk Factors" section of
Zevra’s Annual Report on Form 10-K for the year ended December 31,
2022, as updated in Zevra’s Quarterly Report on Form 10-Q for the
quarter ended March 31, 2023, and Zevra’s other filings with the
Securities and Exchange Commission. While we may elect to update
such forward-looking statements at some point in the future, except
as required by law, we disclaim any obligation to do so, even if
subsequent events cause our views to change. Although we believe
the expectations reflected in such forward-looking statements are
reasonable, we cannot assure that such expectations will prove
correct. These forward-looking statements should not be relied upon
as representing our views as of any date after the date of this
press release.
Contacts:
Nichol Ochsner +1 (732)
754-2545 nochsner@zevra.com
Jennifer Arcure+1 (917)
603-0681 Jennifer.arcure@evokegroup.com
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