Marshall Edwards, Inc. Joins Russell 3000(R) Index
June 26 2008 - 8:08AM
Marketwired
NEW CANAAN, CT , a clinical-stage biotechnology company
developing a new class of oncology drugs known as "multi-signal
transduction regulators," today announced that it is soon to be
included in the Russell 3000� Index, according to a preliminary
list of additions recently posted on www.russell.com. Marshall
Edwards, Inc.'s addition to the broad market Russell 3000� Index,
which remains in place for one year, means automatic inclusion in
the Russell 2000� Index. The 2008 reconstitution of the Russell
indexes will take place after the market closes on June 27,
2008.
"With our lead drug candidate phenoxodiol in a pivotal phase III
trial for recurrent ovarian cancer, the Russell 3000� Index has
recognized our potential," said Christopher Naughton, President and
Chief Executive Officer. "Marshall Edwards, Inc.'s inclusion in the
Russell 3000� Index offers us visibility to more investors."
The Russell 3000� Index measures the performance of the largest
3,000 U.S. companies based on total market capitalization,
representing approximately 98% of the investable U.S. equity market
according to Russell Investments. The Russell 2000� Index is a
subset of the Russell 3000� Index representing approximately 10% of
the total Market capitalization of that index and includes
approximately 2,000 of the smallest securities based on a
combination of their market capitalization and current index
membership in the Russell 3000� Index.
About phenoxodiol:
Phenoxodiol is being developed as a chemosensitizing agent in
combination with platinum drugs for late stage, chemoresistant
ovarian cancer and as a monotherapy for prostate and cervical
cancers. It has a unique mechanism of action, binding to cancer
cells via a cell membrane oxidase, causing major downstream
disturbances in expression of proteins necessary for cancer cell
survival and responsible for the development of drug
resistance.
In cancer cells, phenoxodiol appears to selectively inhibit the
regulator known as S-1-P (sphingosine-1-phosphate) that is
overexpressed in cancer cells. In response to phenoxodiol, the
S-1-P content in cancer cells is decreased, with a consequent
decrease in expression of the pro-survival proteins XIAP and FLIP,
rendering those cells more sensitive to chemotherapy. Indeed, in
laboratory studies, it has been demonstrated that drug-resistant
ovarian cancer cells pre-treated with phenoxodiol were killed with
lower doses of chemotherapy drugs.
Importantly, phenoxodiol has been shown not to adversely affect
normal cells in animal and laboratory testing.
Phenoxodiol is being investigated as a therapy for late-stage,
chemoresistant ovarian, prostate and cervical cancers. Phenoxodiol
has received Fast Track status from the FDA to facilitate its
development as a therapy for recurrent ovarian and prostate
cancers.
Phenoxodiol is an investigational drug and, as such, is not
commercially available. Under U.S. law, a new drug cannot be
marketed until it has been investigated in clinical trials and
approved by FDA as being safe and effective for the intended
use.
Phenoxodiol is the first of a family of compounds in the
Marshall Edwards, Inc. drug pipeline of flavonoid derivatives.
About Marshall Edwards, Inc.:
Marshall Edwards, Inc. is a specialist oncology company focused
on the clinical development of novel anti-cancer therapeutics.
These derive from a flavonoid technology platform, which has
generated a number of novel compounds characterized by broad
ranging activity against a range of cancer cell types with few side
effects. The combination of anti-tumor cell activity and low
toxicity is believed to be a result of the ability of these
compounds to target an enzyme present in the cell membrane of
cancer cells, thereby inhibiting the production of pro-survival
proteins within the cell. Marshall Edwards, Inc. has licensed
rights from Novogen Limited (ASX: NRT) (NASDAQ: NVGN) to bring
three oncology drugs -- phenoxodiol, triphendiol and NV-143 -- to
market globally. The Company's lead investigational drug,
phenoxodiol, is in a Phase III multinational multi-centered
clinical trial for patients with recurrent ovarian cancer. More
information on the trial can be found at
http://www.OVATUREtrial.com.
Marshall Edwards, Inc. is majority owned by Novogen Limited
(ASX: NRT) (NASDAQ: NVGN), an Australian biotechnology company that
is specializing in the development of therapeutics based on a
flavonoid technology platform. Novogen is developing a range of
therapeutics across the fields of oncology, cardiovascular disease
and inflammatory diseases. More information on phenoxodiol and on
the Novogen group of companies can be found at
www.marshalledwardsinc.com and www.novogen.com.
Under U.S. law, a new drug cannot be marketed until it has been
investigated in clinical trials and approved by the FDA as being
safe and effective for the intended use. Statements included in
this press release that are not historical in nature are
"forward-looking statements" within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. You should be aware that our actual results could differ
materially from those contained in the forward-looking statements,
which are based on management's current expectations and are
subject to a number of risks and uncertainties, including, but not
limited to, our failure to successfully commercialize our product
candidates; costs and delays in the development and/or FDA
approval, or the failure to obtain such approval, of our product
candidates; uncertainties in clinical trial results; our inability
to maintain or enter into, and the risks resulting from our
dependence upon, collaboration or contractual arrangements
necessary for the development, manufacture, commercialization,
marketing, sales and distribution of any products; competitive
factors; our inability to protect our patents or proprietary rights
and obtain necessary rights to third party patents and intellectual
property to operate our business; our inability to operate our
business without infringing the patents and proprietary rights of
others; general economic conditions; the failure of any products to
gain market acceptance; our inability to obtain any additional
required financing; technological changes; government regulation;
changes in industry practice; and one-time events. We do not intend
to update any of these factors or to publicly announce the results
of any revisions to these forward-looking statements.
Contacts: David Sheon 202 422-6999 Email Contact Christopher
Naughton 011 61 2 9878 0088 Email Contact
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