Inclusion in the index will bring greater shareholder awareness of Pulmatrix's progress in developing novel inhaled drugs
LEXINGTON, Mass., June 24, 2016 /PRNewswire/ -- Pulmatrix, Inc., (NASDAQ: PULM), a specialty pharmaceutical company developing innovative inhaled drugs, announced today that it was added to the Russell Microcap Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 24, 2016.
"This is an important milestone for Pulmatrix," said Chief Executive Officer Robert Clarke. "It will increase shareholder awareness of our progress in developing drugs for crucial unmet medical needs, and make us more visible to important institutional investors."
Membership in the Russell Microcap Index is based on market capitalization and means automatic inclusion in the appropriate growth and value style indexes.
Pulmatrix is moving ahead with a pipeline of innovative inhaled drugs based on its iSPERSE™ technology and believes that iSPERSE will enable the efficient delivery of drugs directly to the lungs with fewer side effects compared to existing products. The company's first three product candidates are engineered to treat chronic obstructive pulmonary disease (COPD), fungal infections in the lungs, and idiopathic pulmonary fibrosis (IPF).
Pulmatrix is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary disease using its patented iSPERSE™ technology. The Company's proprietary product pipeline is focused on advancing treatments for lung diseases, including opportunities in major pulmonary diseases through collaborations, like PUR0200, a branded generic in clinical development for chronic obstructive pulmonary disease (COPD) and PUR1900, an inhaled antifungal that could benefit severe asthmatics and patients with rare disease like cystic fibrosis. Pulmatrix's product candidates are based on iSPERSE™, its proprietary dry powder delivery platform, which seeks to improve therapeutic delivery to the lungs by maximizing local concentrations and reducing systemic side effects to improve patient outcomes.
Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company cautions that such statements involve risks and uncertainties that may materially affect the Company's results of operations. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to the ability to establish that potential products are efficacious or safe in preclinical or clinical trials; the ability to establish or maintain collaborations on the development of therapeutic candidates; the ability to obtain appropriate or necessary governmental approvals to market potential products; the ability to obtain future funding for developmental products and working capital and to obtain such funding on commercially reasonable terms; the Company's ability to manufacture product candidates on a commercial scale or in collaborations with third parties; changes in the size and nature of competitors; the ability to retain key executives and scientists; and the ability to secure and enforce legal rights related to the Company's products, including patent protection. A discussion of these and other factors, including risks and uncertainties with respect to the Company, is set forth in the Company's annual report on Form 10-K filed by the Company with the Securities and Exchange Commission on March 10, 2016. The Company disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Robert Clarke, CEO
William Duke, CFO
Chris Brinzey, Westwicke Partners
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SOURCE Pulmatrix, Inc.