Seattle Genetics Added to Russell 2000 and Russell 3000 Stock Indexes
BOTHELL, Wash., Jul 10, 2001 (BW HealthWire) -- Seattle Genetics, Inc. (Nasdaq: SGEN chart, msgs) announced today that the Company has been added to the Russell 2000(R) and Russell 3000(R) stock indexes.
These Russell Indexes, issued by the Frank Russell Company, are adjusted annually based on market capitalization as of May 31st. The annual rebalancing process ensures that the index provides an accurate reflection of current stock market activity and performance.
The Russell 3000, a broad market stock index, measures the performance of the 3,000 largest U.S. companies based on total market capitalization. The Russell 2000 measures the performance of the 2,000 smallest companies in the Russell 3000 index. Seattle Genetics was added to both indexes, which went into effect on July 1st and will remain effective for one year.
About Seattle Genetics
Seattle Genetics discovers and develops monoclonal antibody, or mAb, -based therapeutics to treat cancer and related diseases. The Company utilizes its mAb-based technologies to increase the potency and efficacy of antibodies with specificity for cancer. Seattle Genetics has four mAb-based technologies: engineered mAbs, mAb-drug conjugates, single-chain immunotoxins and antibody-directed enzyme prodrug therapy. Using these technologies and its expertise in cancer, Seattle Genetics has built a diverse portfolio of drug candidates targeted to many types of human cancers, including two currently being tested in clinical trials. The Company also out-licenses its mAb-based technologies to strategic partners developing targeted therapies. More information about Seattle Genetics can be found at www.seattlegenetics.com.
Other than historical information set forth herein, this announcement may contain forward-looking statements that involve risks and uncertainties, including the risk that Seattle Genetics' performance over the next twelve months may not qualify it for inclusion in future Russell Indexes. Additional risks associated with Seattle Genetics' business can be found in its recent filings with the Securities and Exchange Commission, including its registration statement on Form S-1 (Registration No. 333-50266) dated March 6, 2001. Seattle Genetics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Seattle Genetics
Tim Carroll, 425/489-4970
tcarroll@seagen.com
or
Peggy Pinkston, 425/489-5450
ppinkston@seagen.com |
