CPRX (3.57) Catalyst Pharmaceutical Partners, Inc. Set to Join Russell Microcap(R) Index
Wednesday, June 25 2008 11:23 AM, EST
PR Newswire "US Press Releases "
CORAL GABLES, Fla., June 25 /PRNewswire-FirstCall/ -- Catalyst Pharmaceutical Partners, Inc. (Nasdaq: CPRX) announced today that it is set to join the Russell Microcap(R) Index when Russell Investments reconstitutes its family of U.S. indexes on June 27, 2008 , according to a preliminary list of additions posted on June 13, 2008 on www.russell.com .
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Patrick J. McEnany, Chief Executive Officer of Catalyst, noted, "We are pleased that the Company's shares are being added to the Russell Microcap Index. We view this as recognition of Catalyst's numerous accomplishments over the past year, which have translated into increased market value for our shareholders. Among other milestones during the remainder of the year, we look forward to reporting top line results for our U.S. Phase II clinical trial evaluating our lead compound, CPP-109, as a treatment for cocaine addiction, as well as the initiation of a U.S. Phase II clinical trial for CPP-109 as a potential treatment for methamphetamine addiction. Catalyst is dedicated to bringing innovative therapies to market for the treatment of both drug addiction as well as obsessive compulsive disorders and our inclusion in the Russell Microcap Index should help to expand the Company's visibility and investor base even further."
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 to create the Russell 3000(R) Index and the Russell Microcap(R) Index. 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 $4.4 trillion in assets currently are benchmarked to them. 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 strategies.
About Russell
Russell Investments aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-art performance benchmarks, and a range of institutional-quality investment products. With more than $213 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world's best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution places, and in the life savings of individual investors. Headquartered in Tacoma, Wash ., Russell has principal offices in Amsterdam , Auckland , Johannesburg , London , Melbourne , New York , Paris , San Francisco , Seoul , Singapore , Sydney , Tokyo and Toronto . For more information on Russell indexes, go to www.russell.com .
About Catalyst Pharmaceutical Partners
Catalyst Pharmaceutical Partners, Inc. is a biopharmaceutical company focused on the development and commercialization of prescription drugs for the treatment of addiction and obsessive compulsive disorders. The Company has obtained from Brookhaven National Laboratory an exclusive worldwide license for Brookhaven's patent portfolio in the United States relating to the right to use vigabatrin to treat a wide variety of substance addictions and obsessive compulsive disorders. Catalyst has also been granted rights to Brookhaven's vigabatrin-related foreign patents or patents pending in more than 30 countries. The Company's initial product candidate based on vigabatrin is CPP-109. CPP-109 has been granted "Fast Track" status by the U.S. Food & Drug Administration (FDA) for the treatment of cocaine addiction. This indicates that the FDA has recognized that CPP-109 is intended for the treatment of a serious or life-threatening condition for which there is no effective treatment and which demonstrates the potential to address unmet medical needs. For more information about the Company, go to www.catalystpharma.com .
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. A number of factors, including our ability to successfully complete the clinical trials required for us to file a new drug application for CPP-109, our ability to complete such trials on a timely basis within the budgets we establish for such trials, our ability to protect our intellectual property and those other factors described in the Company's Annual Report on Form 10-K for 2007 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2008 that the Company has filed with the U.S. Securities and Exchange Commission ("SEC"), could adversely affect the Company. Copies of the Company's filings with the SEC are available from the SEC, may be found on the Company's website or may be obtained upon request from the Company. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.
SOURCE Catalyst Pharmaceutical Partners, Inc.
