SAN DIEGO, June 25 /PRNewswire-FirstCall/ -- Orexigen(TM) Therapeutics, Inc. , a biopharmaceutical company focused on the treatment of central nervous system disorders with an initial focus on obesity, announced its inclusion in the Russell 2000(R) Index of publicly traded companies, effective today.
Orexigen’s lead combination product candidates targeted for obesity are Contrave(TM), which is in Phase III clinical trials, and Empatic(TM), which is in a Phase IIb clinical trial. In addition, Orexigen plans to continue to screen drugs for synergistic central nervous system activity and, based on the results, Orexigen intends to advance other potential combination product candidates into clinical trials.
“Orexigen’s inclusion in the Russell 2000 follows the successful execution of our initial public offering in the second quarter of this year,” said Gary D. Tollefson, M.D., Ph.D., President and Chief Executive Officer of Orexigen. “We believe that our inclusion in the Russell 2000 should increase the Company’s visibility with a wider group of investors and institutions including those that rely on the Russell indexes as part of their investment strategy.”
The Russell 2000 Index offers investors access to the small-cap segment of the U.S. equity universe. 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.
About Russell
Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $200 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 plans, and in the life savings of individual investors.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
Russell’s indexes are unmanaged and cannot be invested in directly. For more information on Russell indexes, go to http://www.russell.com.
About Orexigen Therapeutics
Orexigen Therapeutics, Inc. is a biopharmaceutical company focused on the development of pharmaceutical product candidates for the treatment of central nervous system disorders, with an initial focus on obesity. Orexigen’s lead combination product candidates targeted for obesity are Contrave(TM), which is in Phase III clinical trials, and Empatic(TM) (formerly Excalia(TM)), which is in a Phase IIb clinical trial. Both product candidates take advantage of the Company’s understanding of how the brain appears to regulate appetite and energy expenditure, as well as the mechanisms that come into play to limit weight loss over time. Each product candidate is designed to act on a specific group of neurons in the central nervous system with the goal of achieving appetite suppression and sustained weight loss. Further information about the Company can be found at http://www.Orexigen.com.
Forward Looking Statements
Orexigen cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Orexigen that any of its plans will be achieved. For example, statements regarding the advancement of potential combination product candidates into clinical trials and increased investor visibility associated with the Russell 2000 are forward looking statements. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Orexigen’s business, including, without limitation Orexigen’s clinical trials may not proceed in the timeframes or in the manner Orexigen expects or at all; unexpected findings relating to Contrave(TM) or Empatic(TM) that could delay or prevent regulatory filings, approval or commercialization, or that could result in recalls or product liability claims; Orexigen’s screening of drugs may not produce additional product candidates; Orexigen and its licensors may not be able to obtain, maintain and successfully enforce adequate patent and other intellectual property protection of its product candidates; and other risks detailed in Orexigen’s public filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Orexigen undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Contacts: OREXIGEN Graham Cooper 858 436-8600 MEDIA Stephen Gendel 212 918-4650 INVESTORS Jason Spark 619 849-6005
Orexigen Therapeutics, Inc.
CONTACT: Graham Cooper of Orexigen Therapeutics, Inc., +1-858-436-8600; ormedia, Stephen Gendel, +1-212-918-4650, or investors, Jason Spark,+1-619-849-6005, both for Orexigen Therapeutics, Inc.
