BETHESDA, Md., June 29 /PRNewswire-FirstCall/ -- Micromet, Inc. (Nasdaq: MITI), a biopharmaceutical company developing novel, proprietary antibodies for the treatment of cancer, inflammation and autoimmune diseases, today announced that it was added to the Russell 3000 Index as part of the annual reconstitution of the Russell indexes, which occurred on June 26, 2009.
"Investors recognize the Russell 3000 as an established benchmark for tracking investment performance, market movements and market trends. We are pleased that Micromet has been added to the Russell 3000 Index and expect that it will increase our visibility in the investment community," said Buck Phillips, Senior Vice President and Chief Financial Officer of Micromet.
Annual reconstitution of Russell's U.S. indexes captures the largest U.S. stocks as of the end of May, determined by total market capitalization. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
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 industry-leading $4 trillion in assets currently are benchmarked to the Russell indexes. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Total returns data for the Russell 3000 and other Russell indexes is available at www.russell.com/Indexes/performance/def
|SOURCE Micromet, Inc.|
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