LOS ANGELES--(BUSINESS WIRE)--Puma Biotechnology, Inc. (NYSE: PBYI), a development stage
biopharmaceutical company, is set to join the broad-market Russell 3000®
Index following Russell Investments’ annual reconstitution of its
comprehensive set of U.S. and global equity indexes on June 28,
according to a preliminary list of additions posted on June 14.
“We are very pleased to be included in the widely referenced Russell
Indexes,” said Alan H. Auerbach, Chief Executive Officer and President
of Puma Biotechnology. “We believe that inclusion in the Russell 3000
will benefit our stockholders by increasing liquidity and providing
exposure to a broader base of institutional investors.”
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. The Russell 3000 also serves
as the U.S. component to the Russell Global Index.
Russell determines membership for its equity indexes primarily by
objective, market-capitalization rankings and style attributes. Russell
indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. Approximately $4.1 trillion in assets are
benchmarked to the Russell Indexes.
About Puma Biotechnology
Puma Biotechnology, Inc. is a development stage biopharmaceutical
company that acquires and develops innovative products for the treatment
of various forms of cancer. The Company focuses on in-licensing drug
candidates that are undergoing or have already completed initial
clinical testing for the treatment of cancer and then seeks to further
develop those drug candidates for commercial use. The Company is
initially focused on the development of PB272 (neratinib), an oral
potent irreversible tyrosine kinase inhibitor, for the treatment of
patients with HER2 positive metastatic breast cancer and non-small cell
lung cancer.
Further information about Puma Biotechnology can be found at www.pumabiotechnology.com.
Forward-Looking Statements:
This press release contains forward-looking statements that involve
risks and uncertainties that could cause the Company's actual results to
differ materially from the anticipated results and expectations
expressed in these forward-looking statements. These statements are
based on current expectations, forecasts and assumptions, and actual
outcomes and results could differ materially from these statements due
to a number of factors, which include, but are not limited to, the risk
factors disclosed in the periodic reports filed by the Company with the
U.S. Securities and Exchange Commission from time to time, including the
Company’s Annual Report on Form 10-K for the year ended December 31,
2012. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. The
Company assumes no obligation to update these forward-looking
statements, except as required by law.
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