Electro-Optical Sciences, Inc. Added to Russell 2000(R) and Russell 3000(R) Indexes
Published: Jun 30, 2009
IRVINGTON, NY--(Marketwire - June 29, 2009) - Electro-Optical Sciences, Inc. ("EOS") (NASDAQ: MELA), a medical technology company focused on the design and development of MelaFind®, a non-invasive, point-of-care instrument to assist in the early detection of melanoma, today announced that the company's shares have been added to the Russell 2000® and Russell 3000® indexes, effective immediately.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the Russell 2000 Index as well as the appropriate growth and value style indexes. Member companies are drawn from the 4,000 largest companies meeting the indexes' criteria as of the end of each May and are added or deleted annually as the indexes are reconstituted each June.
"We are pleased to be included in both Russell indexes and believe that this will bring a more diverse group of shareholders to the stock and may generate additional attention to the company as MelaFind advances through the regulatory pathway at the Food and Drug Administration," said Joseph V. Gulfo, M.D., Chief Executive Officer of EOS.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. According to Russell, an industry-leading $4 trillion in assets currently are benchmarked to them.
About Electro-Optical Sciences
Electro-Optical Sciences is a medical technology company focused on developing MelaFind®, a non-invasive and objective computer vision system intended to aid in the early detection of melanoma. EOS designed MelaFind® to assist in the evaluation of pigmented skin lesions, including atypical moles, which have one or more clinical or historical characteristics of melanoma, before a final decision to biopsy has been rendered. MelaFind® acquires and displays multi-spectral (from blue to near infrared) digital images of pigmented skin lesions and uses automatic image analysis and statistical pattern recognition to help identify lesions to be considered for biopsy to rule out melanoma. For more information on EOS, visit www.eosciences.com.
This press release includes "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. These statements include but are not limited to our plans, objectives, expectations and intentions and other statements that contain words such as "expects," "contemplates," "anticipates," "plans," "intends," "believes" and variations of such words or similar expressions that predict or indicate future events or trends, or that do not relate to historical matters. These statements are based on our current beliefs or expectations and are inherently subject to significant uncertainties and changes in circumstances, many of which are beyond our control. There can be no assurance that our beliefs or expectations will be achieved. Actual results may differ materially from our beliefs or expectations due to economic, business, competitive, market and regulatory factors.
For further information contact:
Lazar Partners Ltd.