LYNBROOK, N.Y., June 29 /PRNewswire-FirstCall/ -- BioSpecifics Technologies Corp. , a biopharmaceutical company developing first in class collagenase-based products, announced today that it was added to the Russell 3000 and Russell 2000 Indexes effective at the close of the U.S. markets on June 29, 2009. The Russell family of U.S. indexes is reconstituted annually and is designed to be a comprehensive representation of the investable U.S. equity market.
The Russell 3000 Index measures the performance of the largest 3000 U.S. companies representing approximately 98 percent of the investable U.S. equity market. Membership in the Russell 3000 Index results in automatic inclusion in either the large-cap Russell 1000 Index or the widely used small-cap Russell 2000. The Russell 2000 includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership and is constructed to represent a true small-cap opportunity set.
Russell indexes are widely used by fund managers for index funds and as benchmarks for both passive and active investment strategies.
About BioSpecifics Technologies Corp.
BioSpecifics Technologies Corp. is a biopharmaceutical company that has developed injectable collagenase for three clinical indications: Dupuytren's disease; Peyronie's disease; and frozen shoulder (adhesive capsulitis). Its strategic partner Auxilium Pharmaceuticals, Inc. has announced the acceptance of the Biologic License Application (BLA) and Priority Review by the U.S. Food and Drug Administration for injectable collagenase XIAFLEX(TM) in the treatment of Dupuytren's disease. Pfizer, Inc. is responsible for marketing XIAFLEX product in Europe.
More information about the company may be found on its website at www.biospecifics.com.
CONTACT: Thomas Wegman, +1-516-593-7000, thomas_wegman@biospecifics.com
Web site: http://www.biospecifics.com/
