Pain Therapeutics Announces Inclusion in Russell 3000 Index.Business Editors/Health & Medical Writers SOUTH SAN FRANCISCO South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. , Calif.--(BW HealthWire)--July 10, 2001 Pain Therapeutics, Inc Pain Therapeutics, Inc. is a biopharmaceutical company, that engages in the research and development of drugs for use in pain management, primarily in the area of opioid painkillers in the United States. . (Nasdaq:PTIE PTIE Ptarmigan Telegraph Interface Equipment ), a developer of next-generation opioid painkillers, today announced that its common stock has been added to the Russell 3000(R) Index, a leading investment ranking of U.S. stocks compiled by the Frank Russell Frank Russell may refer to the following people:
The addition of Pain Therapeutics' stock was part of the annual reconstitution of the Russell Indexes Russell Indexes US equity index widely used by pension and mutual fund investors that are weighted by market capitalization and published by the Frank Russell Company of Tacoma, Washington. . Membership in the Russell 3000(R) Index is determined by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. rankings and style attributes, rather than by subjective opinion or committee decisions. The Russell Indexes are widely used by institutional investors as benchmarks for investment strategies. "We are delighted to be added to this year's Russell 3000(R) Index," said Remi Barbier, president and chief executive officer of Pain Therapeutics. "This is a small but definitive step in our effort to raise PTI's visibility among institutional investors." About Pain Therapeutics, Inc. Pain Therapeutics, Inc. is an emerging leader in the area of pain management. The Company is developing a new generation of proprietary painkillers that addresses the deficiencies of morphine and other opioid painkillers that are widely used in clinical medicine. The Company is currently in Phase II clinical trials with multiple drug candidates. Pain Therapeutics is traded on Nasdaq under the symbol PTIE. For additional information, please visit the Company's website at www.paintrials.com. |
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