Discovery Labs To Be Added to Russell 2000® and Russell Global® Indexes
WARRINGTON, Pa., June 21, 2012 /PRNewswire/ -- Discovery Laboratories, Inc. (NASDAQ: DSCO), a biotechnology company dedicated to establishing a new standard in respiratory critical care, today announced that the company will be added to the Russell 2000® and Russell Global® Indexes when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes at the market close on June 22, 2012, this according to a preliminary list of new additions to the indexes from Russell. 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 institutional assets currently are benchmarked to them.
"This year has marked a significant turning point for our company and inclusion in the Russell 2000 and Russell Global Indexes is a testament to the progress we continue to make," said W. Thomas Amick, Chief Executive Officer at Discovery Labs, "It is known that institutional investors rely on the Russell Indexes for true market representation and our inclusion in these indexes will help us gain more visibility with that important audience."
The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. The Russell 2000 Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. Membership in the Russell 2000 also means automatic inclusion in the appropriate growth and value style indexes.
The Russell Global Index measures the performance of the global equity market based on all investable equity securities.
ABOUT RUSSELL INVESTMENTS
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. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
ABOUT DISCOVERY LABS
Discovery Laboratories, Inc. is a specialty biotechnology company with one focus – to advance a new standard in respiratory critical care. Discovery Labs' novel proprietary KL4 surfactant technology produces a synthetic, peptide-containing surfactant that is structurally similar to pulmonary surfactant and is being developed in liquid, lyophilized, and aerosolized dosage forms. Discovery Labs is also developing its proprietary drug delivery technologies to enable efficient delivery of aerosolized KL4 surfactant and other inhaled therapies. Discovery Labs believes that its proprietary technologies make it possible, for the first time, to develop a significant pipeline of products to address a variety of respiratory diseases for which there frequently are few or no approved therapies. For more information, please visit our website at www.Discoverylabs.com.
To the extent that statements in this press release are not strictly historical, all such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Examples of such risks and uncertainties are described in Discovery Labs' filings with the Securities and Exchange Commission including the most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto. Any forward-looking statement in this release speaks only as of the date on which it is made. The Company assumes no obligation to update or revise any forward-looking statements.
SOURCE Discovery Laboratories, Inc.