OPKO Health, Inc. Set to Join Russell 3000 Index
OPKO Health, Inc. (AMEX:OPK) today announced that it is set to join the broad-market Russell 3000(R) Index when Russell Investment Group reconstitutes its comprehensive set of U.S. and global equity indexes on June 27, 2008, according to a preliminary membership list posted on Friday, June 13, 2008, on its website at www.russell.com.
Membership in the Russell 3000(R), which remains in place for one year, means OPKO would automatically be included in the small-cap Russell 2000(R) Index, as well as appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Dr. Phillip Frost, Chairman of the Board and CEO of OPKO, commented, "We are pleased to be included in the Russell 3000 Index and the opportunity it provides us to increase our visibility within the investment community. We are working diligently to build a world-class organization and OPKO's inclusion in the Russell 3000 is another step in the growth of our company."
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 $4 trillion in assets currently are benchmarked to them. The Russell 3000(R), which serves as the U.S. component to the Russell Global Index, measures the performance of the 3,000 largest U.S. companies based on total market capitalization.
About OPKO Health, Inc.
Miami-based OPKO is a specialty healthcare company. Its lead investigational drug, the gene silencing agent bevasiranib, is in Phase III trials after successfully completing Phase II trials for wet age-related macular degeneration and diabetic macular edema. OPKO is developing a pipeline of novel agents for ophthalmic diseases, and it markets innovative diagnostic imaging systems that complement the company's therapeutic products. For more information visit the company's website at www.opko.com.
This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding our product development efforts, our ability to develop a preclinical pipeline of novel agents for ophthalmic diseases, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our filings with the Securities and Exchange Commission, as well as risks inherent in funding, developing and obtaining regulatory approvals of new, commercially viable and competitive products and treatments. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
Source: OPKO Health, Inc.
Released June 17, 2008