Nuvectis Pharma Set to Join the Russell 2000® and Russell 3000® Indexes
Fort Lee, NJ , June 20, 2023 (GLOBE NEWSWIRE) -- Nuvectis Pharma, Inc. (NASDAQ: NVCT) ("Nuvectis" or the "Company"), a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology, today announced that it will be added to the Russell 2000® and Russell 3000® Indexes as part of the 2023 Russell indexes reconstitution, according to a preliminary list of additions posted May 19, and effective upon the U.S. market close on June 23, 2023.
Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The Russell 3000® Index serves as the U.S. component to the Russell Global Index, and the Russell 2000® Index is a subset of the smallest 2,000 components of the Russell 3000® Index. FTSE Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
About Nuvectis
Nuvectis Pharma, Inc. is a clinical-stage biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions of unmet medical need in oncology. The Company is currently developing two drug candidates, NXP800 and NXP900. NXP800 is a clinical stage, oral small molecule currently in a Phase 1b study. NXP800 was granted Fast Track Designation by the U.S. Food and Drug Administration (“FDA”) for the treatment of platinum-resistant, AT-rich interactive domain-containing protein 1a (ARID1a)-mutated, ovarian carcinoma. NXP900 is a novel inhibitor of the SRC family of kinases with low nanomolar potency against YES1 and SRC. The Investigational New Drug Application (IND) for NXP900 has been cleared by the FDA and the Phase 1a study is expected to commence in the coming months.
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Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the federal securities laws, which statements are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," “set to,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nuvectis Pharma, Inc.'s current expectations, estimates, and projections about future events and trends that we believe may affect our business, financial condition, results of operations, prospects, business strategy, and financial needs. The outcome of the events described in these forward-looking statements are subject to inherent uncertainties, risks, assumptions, market and other conditions, and other factors that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are subject to market and other conditions and described more fully in the section titled "Risk Factors" in our 2022 Form 10-K filed with the Securities and Exchange Commission ("SEC"). However, these risks are not exhaustive and new risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release or other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date of this press release. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
Nuvectis Pharma Contact:
Ron Bentsur
Chairman, Chief Executive Officer and President
Media Relations Contact:
Christopher M. Calabrese
LifeSci Advisors
Tel: 917-680-5608
