Final Determination to be made on June 26, 2009
SEATTLE, June 15 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. ("CTI") (Nasdaq and MTA: CTIC) announced today that it has been included on a list of preliminary additions to the Russell 3000(R) Index and Russell Global(R) Index posted by Russell Investments on June 12, 2009 on www.russell.com. Russell Investments will reconstitute its family of U.S. and global equity indexes on June 26, 2009.
"We are pleased to be on the preliminary list for addition to the Russell 3000(R) Index and Russell Global(R) Index as we believe it reflects the progress we have made and the potential we have going forward," said James A. Bianco, M.D., CEO of Cell Therapeutics, Inc. "The awareness of CTI among institutional investors and the investment community should increase if CTI is included in the Russell indexes as we continue with our objective to build CTI into a leading biopharmaceutical company."
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(R) Index, 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. Membership in the Russell Global(R) Index, which remains in place for one year, means automatic inclusion in the appropriate large-cap, small-cap, all-cap indexes as well as the applicable style, sector and country indexes. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industr
|SOURCE Cell Therapeutics, Inc.|
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