AVANIR Pharmaceuticals Announces It Has Been Added to the Russell 3000® Index
ALISO VIEJO, Calif., June 29, 2009 - AVANIR Pharmaceuticals, Inc. (NASDAQ: AVNR) announced that it has been added to the broad-market Russell 3000 Index, an investment tool comprised of 3,000 of the country's largest and most liquid stocks. Russell Investments reconstituted its Russell 3000 Index on June 26, 2009 with the 3,000 largest U.S. stocks by market capitalization as of the end of May.
AVANIR's membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and value indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. A listing on such indexes often increases a stock's price and liquidity, since index funds and related mutual funds must buy shares of companies listed.
AVANIR Pharmaceuticals, Inc. is focused on acquiring, developing, and commercializing novel therapeutic products for the treatment of chronic diseases. AVANIR's products and product candidates address therapeutic markets that include the central nervous system, inflammation, and infectious diseases. AVANIR's lead product candidate, Zenvia™, is being developed for the treatment of pseudobulbar affect (PBA) and diabetic peripheral neuropathic (DPN) pain. AVANIR has licensed its MIF inhibitor program to Novartis International Pharmaceuticals Ltd. and has sold its anthrax monoclonal antibody program to Emergent BioSolutions. The Company's first commercialized product, Abreva®, is marketed in North America by GlaxoSmithKline Consumer Healthcare and is the leading over-the-counter product for the treatment of cold sores. Further information about AVANIR can be found at www.avanir.com and further information about pseudobulbar affect can be found at www.PBAinfo.org.
Statements in this press release that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate," "intend," "anticipate," "believe," "plan," "goal," "expect," "project," or similar statements, are forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by such statements. For example, there can be no assurance that the inclusion in the Russell Index will result in an increase in price or liquidity and there can be no assurance that AVANIR will be able to maintain its listing beyond the one year listing period. Risks and uncertainties affecting the Company's financial condition and operations also include the risks set forth in AVANIR's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and from time-to-time in other publicly available information regarding the Company. Copies of this information are available from AVANIR upon request. AVANIR disclaims any intent to update these forward-looking statements.
To be included on AVANIR's e-mail alert list, click on the link below or visit AVANIR's website: http://www.b2i.us/irpass.asp?BzID=958&to=ea&s=0
AVANIR Investor Contacts
Jun 29, 2009