AVEO Oncology Added to the Russell 2000, Russell 3000, and Russell Microcap Indexes
June 25 2018 - 7:00AM
Business Wire
AVEO Oncology (NASDAQ: AVEO) today announced that it has been
added to the Russell 2000®, Russell 3000®, and Russell Microcap®
Indexes, effective after the U.S. market closed on Friday, June 22,
2018 as part of FTSE’s annual reconstitution.
“We believe that inclusion in the widely referenced Russell U.S.
Indexes reflects the significant progress we have made as a Company
in the last year, including European approval of tivozanib for the
treatment of adult patients with advanced kidney cancer,” said
Michael Bailey, president and chief executive officer of AVEO. “We
look forward to the prospect of building on this progress as we
seek to achieve milestones in the next two pillars of our tivozanib
strategy: commercialization in the U.S. and combinations with
immunotherapy. To that end, we expect top line results from the
Phase 3 TIVO-3 study of tivozanib in aRCC in the third quarter of
this year, and an update to the Phase 2 portion of the TiNivo Study
of Tivozanib and Nivolumab (OPDIVO®) in mRCC at a medical meeting
in the second half of 2018.”
Annual Russell U.S. Indexes reconstitution captures the 4,000
largest US stocks as of May 11, ranking them by total market
capitalization. Membership in the Russell 3000® Index, 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. FTSE
Russell determines membership for its Russell U.S. Indexes
primarily by objective, market-capitalization rankings and style
attributes.
Russell U.S. Indexes are widely used by investment managers and
institutional investors as the basis for index funds and as
benchmarks for active investment strategies. Approximately $9
trillion in assets are benchmarked against Russell U.S. Indexes.
Russell U.S. Indexes are part of FTSE Russell, a leading global
index provider. For more information on the Russell Indexes and the
Russell U.S. Indexes reconstitution, go to the “Russell
Reconstitution” section on the FTSE Russell website.
About AVEO
AVEO Oncology (AVEO) is a biopharmaceutical company dedicated to
advancing a broad portfolio of targeted therapeutics for oncology
and other areas of unmet medical need. The Company is focused on
seeking to develop and commercialize its lead candidate tivozanib,
a potent, selective, long half-life inhibitor of vascular
endothelial growth factor 1, 2 and 3 receptors, in North
America as a treatment for renal cell carcinoma and other
cancers. AVEO is leveraging multiple partnerships aimed
at developing and commercializing tivozanib in oncology indications
outside of North America, and at progressing its pipeline of
novel therapeutic candidates in cancer and other areas of unmet
medical need. Tivozanib (FOTIVDA®) is approved by the European
Commission for the treatment of adult patients with advanced renal
cell carcinoma in the European
Union plus Norway and Iceland. For more
information, please visit the Company’s website
at www.aveooncology.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements of AVEO
that involve substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. The words “anticipate,”
“believe,” “expect,” “intend,” “may,” “plan,” “potential,” “could,”
“should,” “would,” “seek,” “look forward,” “advance,” “goal,”
“strategy,” or the negative of these terms or other similar
expressions, are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements include, among
others, statements about: the Company’s plans and prospects for
advancing its lead development programs, including its expectations
regarding the timing for top line results from the Phase 3 TIVO-3
study of tivozanib in aRCC, and for providing an update to the
Phase 2 portion of the TiNivo Study of Tivozanib and Nivolumab
(OPDIVO®) in mRCC; advancement of AVEO’s pipeline;; and AVEO’s
strategy, prospects, plans and objectives, including as they
pertain specifically to tivozanib and leveraging partnerships. AVEO
has based its expectations and estimates on assumptions that may
prove to be incorrect. As a result, readers are cautioned not to
place undue reliance on these expectations and estimates. Actual
results or events could differ materially from the plans,
intentions and expectations disclosed in the forward-looking
statements that AVEO makes due to a number of important factors,
including risks relating to AVEO’s ability to enter into and
maintain its third party collaboration and license agreements, and
its ability, and the ability of its collaborators, licensees and
other strategic partners, to achieve development and
commercialization objectives under these arrangements; and AVEO’s
ability, and the ability of its licensees, to demonstrate to the
satisfaction of applicable regulatory agencies such as the FDA the
safety, efficacy and clinically meaningful benefit of AVEO’s
product candidates, including tivozanib. AVEO faces other risks
relating to its business as well, including risks relating to its
and its collaborators’ ability to successfully enroll and complete
clinical trials, including the TIVO-3 and TiNivo studies; AVEO’s
ability to achieve and maintain compliance with all regulatory
requirements applicable to its product candidates; AVEO’s ability
to obtain and maintain adequate protection for intellectual
property rights relating to its product candidates and
technologies; developments, expenses and outcomes related to AVEO’s
shareholder litigation; AVEO’s ability to successfully implement
its strategic plans; AVEO’s ability to raise the substantial
additional funds required to achieve its goals, including those
goals pertaining to the development and commercialization of
tivozanib; unplanned capital requirements; adverse general economic
and industry conditions; competitive factors; and those risks
discussed in the section titled “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations—Liquidity and Capital Resources” included in AVEO’s
quarterly and annual reports on file with the Securities and
Exchange Commission (SEC) and in other filings that AVEO may make
with the SEC in the future. The forward-looking statements in this
press release represent AVEO’s views as of the date of this press
release. AVEO anticipates that subsequent events and developments
may cause its views to change. While AVEO may elect to update these
forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. You should,
therefore, not rely on these forward-looking statements as
representing AVEO's views as of any date other than the date of
this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180625005276/en/
AVEO:Argot PartnersDavid Pitts,
212-600-1902aveo@argotpartners.com
AVEO Pharmaceuticals (NASDAQ:AVEO)
Historical Stock Chart
From Jun 2024 to Jul 2024
AVEO Pharmaceuticals (NASDAQ:AVEO)
Historical Stock Chart
From Jul 2023 to Jul 2024