Heron Therapeutics Set to Join Russell 3000 Index
7 hours 50 minutes ago - DJNF
REDWOOD CITY, Calif.--(BUSINESS WIRE)--June 20, 2014--
Heron Therapeutics, Inc. (NASDAQ:HRTX), a specialty pharmaceutical company, announced today that it is set to join the broad-market Russell 3000 Index, as well as the Russell Global and Russell Micro-Cap Indexes when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 27, 2014, according to a preliminary list of additions posted on June 13, 2014 on www.russell.com/indexes.
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 extremely pleased with Heron's inclusion in the Russell Indexes, " commented Barry D. Quart, Pharm.D., Chief Executive Officer of Heron Therapeutics. "Heron is working towards several key milestones, including our NDA resubmission for SUSTOL(TM) for the prevention of acute- and delayed-onset chemotherapy induced nausea and vomiting (CINV) planned for the fourth quarter and the initiation of a Phase 1 trial for our post-surgical pain program, expected in the second half. Heron's inclusion in the Russell Indexes will raise the Company's visibility among the investment community at an opportune time, as we move towards these important milestones."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.2 trillion in assets are benchmarked to the Russell Indexes. Russell calculates more than 700,000 benchmarks daily covering approximately 98 percent of the investable market globally, more than 80 countries and 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/performance/default.asp.
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. Russell stands with institutional investors, financial advisors and individuals working with their advisors--using the firm's core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.
Russell has more than $259 billion in assets under management (as of 3/31/2014) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.4 trillion in assets under advisement (as of 6/30/2013). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.6 trillion in 2013 through its implementation services business. Russell also calculates approximately 700,000 benchmarks daily covering 98% of the investable market globally, including more than 80 countries and more than 10,000 securities. Approximately $5.2 trillion in assets are benchmarked (as of 12/31/2013) to the Russell Indexes, which have provided investors with 30 years of smarter beta.
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