CRANBURY, N.J., June 27, 2011 /PRNewswire/ -- Amicus Therapeutics (Nasdaq: FOLD), a biopharmaceutical company at the forefront of developing therapies for rare diseases, today announced that it has been added to the U.S. broad-market Russell 3000® and small-cap Russell 2000® Indexes. The Company joined the indexes at the close of market on Friday, June 24, 2011, when Russell Investments reconstituted its U.S. and global equity indexes.
Annual reconstitution of Russell's U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization. The Russell 3000 serves as the U.S. component to the Russell Global Index. Membership in the Russell 3000, 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. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Matthew R. Patterson, President and Acting Chief Executive Officer of Amicus Therapeutics said, "We are pleased to join the Russell 3000 index and see this as an opportunity for Amicus to gain broader visibility among investors who use the Russell indexes to benchmark their portfolios."
The Russell indexes are widely used by investment managers and institutional investors for index funds. $3.9 trillion in institutional assets are currently benchmarked to them for both passive and active investment strategies. More information about Russell Indexes is available at http://www.russell.com/Indexes/data/default.asp.
About Amicus Therapeutics
Amicus Therapeutics (Nasdaq: FOLD) is a biopharmaceutical company at the forefront of developing therapies for rare diseases. The Company is developing orally-administered, small molecule drugs called pharmacological chaperones, a novel, first-in-class approach to treating a broad range of diseases including lysosomal storage disorders and diseases of neurodegeneration. Amicus' lead program Amigal™ (migalastat HCl) is in Phase 3 for the treatment of Fabry disease.
SOURCE Amicus Therapeutics