Jun 28 2010
BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) today announced it has been added to the broad-market Russell 3000 Index as part of Russell Investments' recent reconstitution of its comprehensive set of U.S. and global equity indexes which occurred after market close on June 25, 2010.
"We are delighted that BioSante has been included in the Russell 3000 Index, as it adds greater visibility for BioSante and potentially will lead to a broader stockholder base," said Stephen M. Simes, president and chief executive officer. "A critical focus for BioSante is LibiGel® (testosterone gel), which is in three Phase III clinical studies for the treatment of female sexual dysfunction (FSD), specifically hypoactive sexual desire disorder (HSDD), for which there is no FDA-approved pharmaceutical product. We believe that LibiGel will be the first product approved by the FDA for the treatment of this unmet medical need. With LibiGel and our other late stage products, as well as our strong cash position, we believe we are well-positioned to deliver outstanding value to our stockholders."
Reconstitution of Russell's U.S. indexes, which occurs annually, captures the 4,000 largest U.S. stocks, 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.
SOURCE BioSante Pharmaceuticals, Inc.