PRINCETON, N.J., July 1 /PRNewswire-FirstCall/ -- Pharmasset, Inc. (Nasdaq: VRUS) joined the broad-market Russell 3000(R) Index when Russell Investments reconstituted its equity indexes on June 27.
Pharmasset's membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000(R) Index as well as the appropriate growth and value style indexes. Russell indexes are widely used by investment managers for index funds and as benchmarks for both passive and active investment strategies currently applied to $4.4 trillion in assets.
"We are pleased to be included in these indexes only one year after our stock became publicly traded," stated Kurt Leutzinger, Pharmasset's Chief Financial Officer. "We feel fortunate that our stock price has grown 117% since the IPO in an otherwise difficult market."
Pharmasset is a clinical-stage pharmaceutical company committed to discovering, developing and commercializing novel drugs to treat viral infections. Pharmasset's primary focus is on the development of oral therapeutics for the treatment of hepatitis B virus (HBV), hepatitis C virus (HCV) and human immunodeficiency virus (HIV).
Pharmasset is currently developing three product candidates. Clevudine,
for the treatment of chronic HBV infection, is enrolling Phase 3 clinical
trials for registration in North, Central and South America and Europe.
Clevudine is already approved for HBV in South Korea and marketed by
Bukwang Pharmaceuticals in South Korea under the brand name Levovir. R7128,
an oral treatment for chronic HCV infection, is in a 4-week Phase 1
clinical trial in combination with Pegasys(R) plus Copegus(R) through a
strategic collaboration w
|SOURCE Pharmasset, Inc.|
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