On June 9, 2021 KemPharm, Inc. (NASDAQ: KMPH), a specialty pharmaceutical company focused on the discovery and development of proprietary prodrugs, reported its expected addition to the broad-market Russell 3000 Index and the Russell 2000 Index in accordance with the 2021 Russell indexes annual reconstitution (Press release, KemPharm, JUN 9, 2021, View Source [SID1234583773]). KemPharm’s anticipated inclusion in the Russell indexes will be effective after the U.S. market opens on Monday, June 28, 2021.
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"The expected addition of KemPharm to the Russell indexes is the latest milestone during what has been a truly transformational year for the Company. In just the last six months, we have received FDA approval for our lead drug candidate AZSTARYS, completed a series of financial transactions that allowed KemPharm to up-list our stock to The Nasdaq Capital Market, extinguished all of our debt, and procured a substantial amount of new capital," stated Travis Mickle, Ph.D., President and CEO of KemPharm. "The Russell indexes are widely used investment benchmarks for index funds and active portfolio strategies. Our inclusion is an important validation and should help our efforts to propel long-term shareholder value, expand awareness of KemPharm within the investment community, increase the liquidity of our stock, and broaden our shareholder base."
The annual reconstitution of the Russell indices is conducted by FTSE Russell, a leading global index provider, and captures the 4,000 largest U.S. equities as of May 7, objectively ranking them by total market capitalization and style attributes. Membership in the U.S. all-cap Russell 3000 Index remains in place for one year and means automatic inclusion in the appropriate growth and value style indexes. Inclusion in the Russell 3000 Index also means automatic inclusion in either the large-cap Russell 1000 Index or the small-cap Russell 2000 Index. Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. indices.
About FTSE Russell:
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indices that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes that are used by institutional and retail investors globally. FTSE Russell is wholly owned by the London Stock Exchange Group. For more information, visit www.ftserussell.com.
About AZSTARYS:
AZSTARYS is an FDA-approved, once-daily product for the treatment of attention deficit hyperactivity disorder (ADHD) in patients age six years or older. AZSTARYS consists of SDX, KemPharm’s prodrug of d-methylphenidate (d-MPH), co-formulated with immediate release d-MPH.
The complete approved prescribing information for AZSTARYS may be downloaded in PDF format here: View Source