SAN FRANCISCO, June 15, 2017 /PRNewswire/ -- Kindred
Biosciences, Inc. (NASDAQ: KIN), a biopharmaceutical company
focused on saving and improving the lives of pets, today announced
that it will join the US small-cap Russell
2000® Index, effective after the US market
closes on June 23, according to a
preliminary list of additions and the market capitalization cutoff
posted June 14 as part of the 2017
Russell indexes reconstitution. Membership in the Russell
2000® Index, which remains in place for one
year, is based on membership in the broad-market Russell
3000® Index. The Company will also be
automatically added to the appropriate growth and value
indexes.
"We are pleased with the upcoming addition to the Russell 2000
Index," stated Richard Chin, M.D.,
CEO of KindredBio. "We believe our inclusion reflects the
stockholder value we are building as we prepare for the two
upcoming product launches later this year and as we continue to
make advances in our pipeline."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $8.5 trillion in assets are benchmarked against
Russell's US indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell
2000® Index and the Russell indexes
reconstitution, go to the "Russell Reconstitution" section on the
FTSE Russell website.
About Kindred Biosciences
Kindred Biosciences is a development-stage biopharmaceutical
company focused on saving and improving the lives of pets. Its
mission is to bring to pets the same kinds of safe and effective
medicines that human family members enjoy. The Company's strategy
is to identify compounds and targets that have already demonstrated
safety and efficacy in humans and to develop therapeutics based on
these validated compounds and targets for dogs, cats and horses.
The Company has a deep pipeline of novel drugs and biologics in
development across many therapeutic classes.
For more information or to download the corporate presentation,
visit www.KindredBio.com/LearnMore. Stay connected with
KindredBio on Facebook at www.Facebook.com/KindredBio.
About FTSE Russell
FTSE Russell is a leading global index provider creating and
managing a wide range of indexes, data and analytic solutions to
meet client needs across asset classes, style and strategies.
Covering 98% of the investable market, FTSE Russell indexes offer a
true picture of global markets, combined with the specialist
knowledge gained from developing local benchmarks around the
world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$12.5 trillion is currently
benchmarked to FTSE Russell indexes. For over 30 years, leading
asset owners, asset managers, ETF providers and investment banks
have chosen FTSE Russell indexes to benchmark their investment
performance and create investment funds, ETFs, structured products
and index-based derivatives. FTSE Russell indexes also provide
clients with tools for asset allocation, investment strategy
analysis and risk management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com
Forward Looking Statement
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including, but not limited to,
statements regarding our expectations about the trials, regulatory
approval, manufacturing, distribution and commercialization of our
current and future product candidates, and statements regarding our
anticipated revenues, expenses, margins, profits and use of
cash.
These forward-looking statements are based on our current
expectations. These statements are not promises or guarantees, but
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results to be materially
different from any future results expressed or implied by the
forward-looking statements. These risks include, but are not
limited to, the following: our limited operating history and
expectations of losses for the foreseeable future; the absence of
significant revenue from our product candidates for the foreseeable
future; our potential inability to obtain any necessary additional
financing; our substantial dependence on the success of our lead
product candidates, which may not be successfully commercialized
even if they are approved for marketing; the effect of competition;
our potential inability to obtain regulatory approval for our
existing or future product candidates; our dependence on third
parties to conduct some of our development activities; our
dependence upon third-party manufacturers for supplies of our
product candidates; uncertainties regarding the outcomes of trials
regarding our product candidates; our potential failure to attract
and retain senior management and key scientific personnel;
uncertainty about our ability to develop a satisfactory sales
organization; our significant costs of operating as a public
company; our potential inability to obtain patent protection and
other intellectual property protection for our product candidates;
potential claims by third parties alleging our infringement of
their patents and other intellectual property rights; our potential
failure to comply with regulatory requirements, which are subject
to change on an ongoing basis; the potential volatility of our
stock price; and the significant control over our business by our
principal stockholders and management.
For a further description of these risks and other risks that we
face, please see the risk factors described in our filings with the
U.S. Securities and Exchange Commission (the SEC), including the
risk factors discussed under the caption "Risk Factors" in our
Annual Report on Form 10-K and any subsequent updates that may be
contained in our Quarterly Reports on Form 10-Q filed with the SEC.
As a result of the risks described above and in our filings with
the SEC, actual results may differ materially from those indicated
by the forward-looking statements made in this press release.
Forward-looking statements contained in this press release speak
only as of the date of this press release and we undertake no
obligation to update or revise these statements, except as may be
required by law.
Contact
Russell Radefeld
KindredBio
russell.radefeld@kindredbio.com
(650) 701-7904
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SOURCE Kindred Biosciences, Inc.