Sirna Therapeutics Joins Russell 3000 Index
July 06 2006 - 9:11AM
PR Newswire (US)
SAN FRANCISCO, July 6 /PRNewswire-FirstCall/ -- Sirna Therapeutics,
Inc. (NASDAQ:RNAI), a leading RNAi-based therapeutics company,
announced today that it has been added to the Russell 3000 and the
Russell 2000 Indexes effective June 30, 2006. "Being added to the
Russell Index is one more indicator of the important progress Sirna
has made over the past year advancing RNAi-based therapeutics,"
stated Howard W. Robin, President and Chief Executive Officer of
Sirna. "Our inclusion in the highly-regarded Russell indexes will
further increase Sirna's visibility with investors and continue to
provide us a solid investor base." Russell indexes are widely used
by investment managers and institutional investors for index funds
and as benchmarks for both passive and active investment
strategies. Investment managers who oversee these funds purchase
shares of member stocks according to that company's weighting in
the particular index. Annual reconstitution of the Russell indexes
captures the 3,000 largest U.S. publicly traded stocks as of the
end of May, ranking them by total market capitalization to create
the Russell 3000. The largest 1,000 companies in the ranking
comprise the Russell 1000 while the remaining 2,000 companies
become the widely used Russell 2000. About RNA interference RNA
interference (RNAi) is a natural, selective process for turning off
genes. RNAi is triggered by short interfering RNA (siRNA) molecules
that engage a group of cellular proteins, known as RISC (RNA
induced silencing complex). The RISC guides the siRNA to its target
messenger RNA (mRNA, the messenger between DNA and proteins) by
complementary base pairing for the targeted break-up of the mRNA,
thus halting protein expression or viral replication. The
RISC-siRNA-complex binds and cleaves multiple mRNA molecules in a
catalytic fashion. About Sirna Therapeutics Sirna Therapeutics is a
clinical-stage biotechnology company developing RNAi-based
therapies for serious diseases and conditions, including age-
related macular degeneration (AMD), hepatitis B and C, dermatology,
asthma, Huntington's disease, diabetes and oncology. Sirna
Therapeutics completed its Phase 1 clinical trial for Sirna-027 in
AMD in 2005 and with its strategic partner, Allergan, Inc., expects
to move Sirna-027 into Phase 2 clinical trials in 2006. Sirna has
selected a clinical compound for hepatitis C virus, Sirna-034,
which the Company plans to bring into Phase 1 clinical trials by
the end of 2006. Sirna has established an exclusive multi-year
strategic alliance with GlaxoSmithKline for the development of
siRNA compounds for the treatment of respiratory diseases. Sirna
has a leading intellectual property portfolio in RNAi covering over
250 mammalian gene and viral targets and over 200 issued or pending
patents covering other major aspects of RNAi technology, including
microRNA technology. More information on Sirna Therapeutics is
available on the Company's web site at http://www.sirna.com/. About
Russell Investment Group Russell, a global leader in multi-manager
investment services, provides investment products and services in
44 countries. Russell manages more than $167 billion in assets and
advises clients worldwide representing $2.4 trillion. Founded in
1936, Russell is a subsidiary of Northwestern Mutual and is
headquartered in Tacoma, Wash., with additional offices in New
York, Toronto, London, Paris, Singapore, Sydney, Auckland and
Tokyo. For more information, go to http://www.russell.com/. Safe
Harbor Statement Statements in this press release which are not
strictly historical are "forward-looking" statements which should
be considered as subject to many risks and uncertainties. Patent
applications may not result in issued patents, and issued patents
may not be enforceable or could be invalidated. Other risks and
uncertainties include, among others, Sirna's early stage of
development and short operating history, Sirna's history and
expectation of losses and need to raise capital, Sirna's need to
obtain clinical validation and regulatory approval for Sirna-027,
Sirna-034 and Sirna's other product candidates, any of which could
have negative results, Sirna's need to engage collaborators,
Sirna's need to obtain and protect intellectual property, and the
risk of third-party patent infringement claims. These and
additional risk factors are identified in Sirna's Securities and
Exchange Commission filings, including its Forms 10-K and 10-Q and
in other SEC filings. Sirna undertakes no obligation to revise or
update any forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
Contacts Greg Weaver, SVP & CFO, Sirna Therapeutics, Inc.,
415-512-7200 Alan Zachary, McKinney/Chicago, 312-944-6784 x 316
Brandon Belcher, The Ruth Group, 646-536-7009 DATASOURCE: Sirna
Therapeutics, Inc. CONTACT: Greg Weaver, SVP & CFO of Sirna
Therapeutics, Inc., +1-415-512-7200, or Alan Zachary of
McKinney/Chicago, +1-312-944-6784 x 316, or Brandon Belcher of The
Ruth Group, +1-646-536-7009 Web site: http://www.sirna.com/
http://www.russell.com/
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