Synergy Pharmaceuticals Added to the Russell 3000(R), Russell Global, and Russell Microcap Indexes
25 Junho 2012 - 10:15AM
Synergy Pharmaceuticals Inc. (Nasdaq:SGYP) (Nasdaq:SGYPU)
(Nasdaq:SGYPW), a developer of new drugs to treat gastrointestinal
disorders and diseases, today announced that Russell Investments
has added Synergy Pharmaceuticals to the broad-market Russell 3000®
Index, the Russell Global Index and the Russell Microcap Index
based on Russell Investments annual reconstitution of its family of
U.S. indexes finalized after the close of the U.S. markets on June
22, 2012.
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.
"We are delighted that Synergy Pharmaceuticals has been included
in these Russell Indexes, as it provides greater visibility for
Synergy, and potentially will lead to increased liquidity and a
broader stockholder base," stated Gary S. Jacob, Ph.D., Chief
Executive Officer of Synergy Pharmaceuticals.
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. In the institutional
marketplace, an industry-leading $3.9 trillion in assets currently
are benchmarked to them. Russell calculates more than 80,000
benchmarks daily covering approximately 98 percent of the
investable market globally, 83 countries and more than 10,000
securities. 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/data/US_Equity/Russell_US_Index_returns.asp.
About Synergy Pharmaceuticals, Inc.
Synergy is a biopharmaceutical company focused on the
development of new drugs to treat gastrointestinal disorders and
diseases. Synergy's lead proprietary drug candidate plecanatide is
a synthetic analog of the human gastrointestinal hormone
uroguanylin, and functions by activating the guanylate cyclase C
receptor on epithelial cells of the GI tract. Synergy completed a
Phase I study of plecanatide in healthy volunteers and a Phase IIa
clinical trial in CIC patients. In October, 2011, Synergy initiated
dosing of patients in a major Phase II/III clinical trial of
plecanatide to treat chronic idiopathic constipation. Plecanatide
is also being developed to treat constipation-predominant irritable
bowel syndrome, with the first trial in IBS-C patients planned for
the second half of 2012. Synergy's second GC-C agonist SP-333 is
currently in pre-clinical development to treat inflammatory bowel
diseases. More information is available at
http://www.synergypharma.com.
About Russell
Russell Investments (Russell) is a global asset manager and one
of only a few firms that offers actively managed, multi-asset
portfolios and services that include advice, investments and
implementation. Working with institutional investors, financial
advisors and individuals, Russell's core capabilities extend across
capital markets insights, manager research, Indexes, portfolio
implementation and portfolio construction.
Russell has approximately $155 billion in assets under
management (as of 3/31/2012) and works with 2,400 institutional
clients, more than 580 independent distribution partners and
advisors, and individual investors globally. Founded in 1936,
Russell is a subsidiary of The Northwestern Mutual Life Insurance
Company.
Forward-Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of
forward-looking words such as "anticipate," "planned," "believe,"
"forecast," "estimated," "expected," and "intend," among others.
These forward-looking statements are based on Synergy's current
expectations and actual results could differ materially. There are
a number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, substantial
competition; our ability to continue as a going concern; our need
for additional financing; uncertainties of patent protection and
litigation; uncertainties of government or third party payer
reimbursement; limited sales and marketing efforts and dependence
upon third parties; and risks related to failure to obtain FDA
clearances or approvals and noncompliance with FDA regulations. As
with any pharmaceutical under development, there are significant
risks in the development, regulatory approval and commercialization
of new products. There are no guarantees that future clinical
trials discussed in this press release will be completed or
successful or that any product will receive regulatory approval for
any indication or prove to be commercially successful. Synergy does
not undertake any obligation to update or revise any
forward-looking statement. Investors should read the risk factors
set forth in Synergy's Form 10-K for the year ended December 31,
2011 and other periodic reports filed with the Securities and
Exchange Commission.
CONTACT: Investor Contact Information:
Danielle Spangler
The Trout Group
synergy@troutgroup.com
(646) 378-2924
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