SAN DIEGO, June 14, 2011 (GLOBE NEWSWIRE) -- Apricus Biosciences, Inc. ("Apricus Bio") (Nasdaq:APRI) () announced today that the San Diego pharmaceutical company, which specializes in products utilizing its proprietary NexACT® technology, will be added to the Russell Microcap® Index when Russell Investments reconstitutes its family of U.S. indexes on June 24th, according to a preliminary list of additions posted June 10th on .
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
"Inclusion in the Russell Microcap Index is another validation of the company's continued growth and efforts. We have been working hard on the strategic advancement of Apricus Bio and we are proud of the progress we have made, to date, in the partnerships, development and commercialization of our products and product candidates and NexACT technology," said Apricus Bio's Chairman, President and Chief Executive Officer, Dr. Bassam Damaj. "Much of this progress is owed to our investors, and the faith they have put in our Company, our management team and our flagship product Vitaros®, for the treatment of erectile dysfunction, along with our other late stage products (Femprox®, PrevOnco™ and RayVa™) as part of our robust pipeline."
About Russell Microcap® Index
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in institutional assets currently are benchmarked to them.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000® Index and Russell Microcap. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
More information on the Russell Microcap and other Russell Indexes, including daily returns, is available at .
Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has more than $161 billion in assets under management as of March 31 2011, and serves individual, institutional and advisor clients in more than 35 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
About Apricus Biosciences, Inc.
Apricus Bio, a San Diego based revenue-generating pharmaceutical company, has leveraged the flexibility of its clinically-validated NexACT® drug delivery technology to enable multi-route administration of new and improved compounds across numerous therapeutic classes.
Revenues and growth are driven from out-licensing of this technology for the development and commercialization of such compounds to pharmaceutical and biotechnology companies worldwide. In addition, the Company is seeking to monetize its existing product pipeline, including its first product, Vitaros®, approved in Canada for the treatment of erectile dysfunction, which is currently expected to be available on the Canadian market in 2011, as well as compounds in development from pre-clinical through Phase III, currently focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain, Anti-Infectives, Cardiovascular, Diabetes and Cosmeceuticals among others.
For further information on Apricus Bio, visit , and for information on its subsidiaries please visit or . You can also receive information at and .
Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to further development products and product candidates, have such products and product candidates approved by relevant regulatory authorities, to successfully commercialize such products and product candidates and to achieve its other development, commercialization and financial goals. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent annual report on Form 10-K, subsequent quarterly reports filed on Form 10-Q and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
CONTACT: Apricus Biosciences, Inc. Edward Cox, V.P. Corporate Development & Investor Relations, Apricus Biosciences, Inc. (858) 848-4249 firstname.lastname@example.org Apricus Bio Investor Relations Paula Schwartz Rx Communications Group, LLC (917) 322-2216 email@example.com