Fennec Pharmaceuticals Set to Join Russell 3000 Index
June 11 2018 - 5:00AM
Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX), a specialty
pharmaceutical company focused on the development of PEDMARKTM (a
unique formulation of sodium thiosulfate (STS)) for the prevention
of platinum-induced ototoxicity in pediatric patients, announced
today it is set to join the broad-market Russell 3000® Index
at the conclusion of the Russell US Indexes annual reconstitution,
effective after the US market opens on June 25, according to a
preliminary list of additions posted June 8.
Annual Russell US Indexes reconstitution captures the 4,000
largest US stocks as of May 11, ranking them by total market
capitalization. For Fennec, membership in the Russell 3000® Index,
which would remain 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. FTSE Russell determines membership for its Russell US
Indexes primarily by objective, market-capitalization rankings and
style attributes.
Russell US Indexes are widely used by investment managers and
institutional investors as the basis for index funds and as
benchmarks for active investment strategies. Approximately $9
trillion in assets are benchmarked against Russell US Indexes.
Russell US Indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell 3000® Index and the Russell
US Indexes reconstitution, go to the “Russell Reconstitution”
section on the FTSE Russell website.
About Fennec
Pharmaceuticals
Fennec Pharmaceuticals Inc., is a specialty
pharmaceutical company focused on the development of Sodium
Thiosulfate (STS) for the prevention of platinum-induced
ototoxicity in pediatric patients. STS has received Orphan Drug
Designation in the US in this setting. Fennec has an exclusive
license agreement with OHSU for exclusive worldwide license rights
to intellectual property directed to STS and its use for
chemoprotection, including the prevention of ototoxicity induced by
platinum chemotherapy, in humans. For more information, please
visit www.fennecpharma.com.
About FTSE Russell:FTSE Russell is a leading
global index provider creating and managing a wide range of
indexes, data and analytic solutions to meet client needs across
asset classes, style and strategies. Covering 98% of the investable
market, FTSE Russell indexes offer a true picture of global
markets, combined with the specialist knowledge gained from
developing local benchmarks around the world.
Forward looking statements
Except for historical information described in
this press release, all other statements are forward-looking.
Forward-looking statements are subject to certain risks and
uncertainties inherent in the Company’s business that could cause
actual results to vary, including such risks that regulatory and
guideline developments may change, scientific data may not be
sufficient to meet regulatory standards or receipt of required
regulatory clearances or approvals, clinical results may not be
replicated in actual patient settings, protection offered by the
Company’s patents and patent applications may be challenged,
invalidated or circumvented by its competitors, the available
market for the Company’s products will not be as large as expected,
the Company’s products will not be able to penetrate one or more
targeted markets, revenues will not be sufficient to fund further
development and clinical studies, the Company may not meet its
future capital requirements in different countries and
municipalities, and other risks detailed from time to time in the
Company’s filings with the Securities and Exchange Commission
including its Annual Report on Form 10-K for the year ended
December 31, 2017. Fennec Pharmaceuticals, Inc. disclaims any
obligation to update these forward-looking statements except as
required by law.
The scientific information discussed in this
news release related to PEDMARKTM is preliminary and investigative.
Such product candidates are not approved by the U.S. Food and Drug
Administration, Health Canada or other regulatory and no
conclusions can or should be drawn regarding the safety or
effectiveness of such product candidate.
For a more detailed discussion of related risk
factors, please refer to our public filings available at
www.sec.gov and www.sedar.com.
For further information, please
contact:
Rosty RaykovChief Executive OfficerFennec
Pharmaceuticals Inc.T: (919) 636-5144
Fennec Pharmaceuticals (TSX:FRX)
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