Chelsea Therapeutics Added to Russell 3000(R) and Russell 2000(R) Indexes
CHARLOTTE, N.C., July 1, 2013 (GLOBE NEWSWIRE) -- Chelsea Therapeutics
International, Ltd. (Nasdaq:CHTP) today announced that it was added to the
Russell 3000^® and Russell 2000^® Indexes when the Russell Investment Group
reconstituted its family of U.S. indexes after stock market close on June 28,
Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest
U.S. stocks as of the end of May, ranking them by total market capitalization.
Membership in the Russell 3000^®, which remains 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.
Russell determines membership for its equity indexes primarily by objective,
market-capitalization rankings and style attributes.
The Russell 3000^® also serves as the U.S. component to the Russell Global
Index, which Russell launched in 2007.
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. Approximately $4.1 trillion in assets are benchmarked
to the Russell Indexes. Russell calculates more than 700,000 benchmarks daily
covering approximately 98 percent of the investable market globally, more than
80 countries and 10,000 securities. These investment tools originated from
Russell's multi-manager investment business in the early 1980s when the
company saw the need for a more objective, market-driven set of benchmarks in
order to evaluate outside investment managers.
NORTHERA™ (droxidopa), the lead investigational agent in Chelsea Therapeutics'
pipeline, is currently in Phase III development for the treatment of
symptomatic neurogenic orthostatic hypotension (NOH) in patients with primary
autonomic failure — an indication that includes a significant number of
patients with Parkinson's disease, multiple system atrophy (MSA) and pure
autonomic failure (PAF). Droxidopa is a synthetic catecholamine that is
directly converted to norepinephrine (NE) via decarboxylation, resulting in
increased levels of NE in the nervous system, both centrally and peripherally.
About Chelsea Therapeutics
Chelsea Therapeutics (Nasdaq:CHTP) is a biopharmaceutical development company
that acquires and develops innovative products for the treatment of a variety
of human diseases, including central nervous system disorders. Chelsea is
currently pursuing FDA approval in the U.S. for Northera™ (droxidopa), a
novel, late-stage, orally-active therapeutic agent for the treatment of
symptomatic neurogenic orthostatic hypotension in patients with primary
autonomic failure. For more information about the Company, visit
This press release contains forward-looking statements regarding future events
including our intention to pursue the development of Northera. These
statements are subject to risks and uncertainties that could cause the actual
events or results to differ materially. These include reliance on key
personnel and our ability to attract and/or retain key personnel, the risk
that FDA will not agree that our clinical trial results demonstrate the safety
and effectiveness of droxidopa, the risk that the FDA will not accept our
proposal regarding any trial or other data to support a new drug application;
the risk that we will not be able to resubmit the NDA for Northera and that
the FDA will not approve a resubmitted NDA; the risk that our resources will
not be sufficient to conduct any study of Northera that will be acceptable to
the FDA; the risk that we cannot complete any additional study for Northera
without the need for additional capital; the risks and costs of drug
development and that such development may take longer or be more expensive
than anticipated; our need to raise additional operating capital in the
future; our reliance on our lead drug candidate droxidopa; risk that we will
not be able to obtain regulatory approvals of droxidopa or our other drug
candidates for additional indications; risk of volatility in our stock price,
related litigation, and analyst coverage of our stock; reliance on
collaborations and licenses; intellectual property risks; our history of
losses; competition; market acceptance for our products if any are approved
Fara Berkowitz / Susan Kim
Chelsea Therapeutics Logo
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