June 13, 2007
CytRx to join Russell Index
By Cory Hopkins
CytRx Corp. of Los Angeles, majority owner of Worcester-based RXi Pharmaceuticals Corp., will join the Russell 3000A Index effective June 22.
The move will increase the visibility of CytRx to potential investors, said Steven A. Kriegsman, the company's president and CEO.
"We believe that CytRx's inclusion on this year's preliminary Russell 3000A Index reflects growing recognition from the investment community of our progress," Kriegsman said. "We welcome the inclusion on the Russell 3000A Index, which should increase CytRx's visibility with institutions that rely on it as part of their investment strategy."
The Russell Index is part of Russell Investment Group, with U.S. headquarters in Tacoma, Wash. Russell Investment Group manages more than $200 billion in investment assets.
Russell indexes are used as benchmarks for investment strategies, the company said.
CytRx's membership in the Russell Index will be effective for one year, and also includes membership in the small-cap Russell 2000A Index. Membership is determined by Russell based on objective, market-capitalization rankings and style attributes.
The move will increase the visibility of CytRx to potential investors, said Steven A. Kriegsman, the company's president and CEO.
"We believe that CytRx's inclusion on this year's preliminary Russell 3000A Index reflects growing recognition from the investment community of our progress," Kriegsman said. "We welcome the inclusion on the Russell 3000A Index, which should increase CytRx's visibility with institutions that rely on it as part of their investment strategy."
The Russell Index is part of Russell Investment Group, with U.S. headquarters in Tacoma, Wash. Russell Investment Group manages more than $200 billion in investment assets.
Russell indexes are used as benchmarks for investment strategies, the company said.
CytRx's membership in the Russell Index will be effective for one year, and also includes membership in the small-cap Russell 2000A Index. Membership is determined by Russell based on objective, market-capitalization rankings and style attributes.
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