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NEXMED ANNOUNCES ITS INCLUSION IN THE RUSSELL MICROCAP® INDEX
East Windsor, NJ, July 9, 2007 -- NexMed, Inc. (NASDAQ: NEXM), a developer of innovative transdermal treatments based on the NexACT® drug delivery technology, today announced that the Company has been added to the Russell Microcap® Index, after Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes on June 22, 2007.
Commenting on today’s news, Vivian Liu, President and Chief Executive Officer of NexMed, noted, “Inclusion in the Russell Microcap® Index should generate additional interest in the stock, and is a reflection of the Company’s operational progress and continued, positive momentum. We are very pleased to have been added to the 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. The Company will hold its membership until Russell reconstitutes its Indexes in June 2008.
The 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. The Russell Microcap® comprises the lower half of the 4,000 stocks.
About NexMed
NexMed, Inc. is an emerging drug developer that is leveraging its proprietary drug technology to develop a significant pipeline of innovative pharmaceutical products to address significant unmet medical needs. The Company is also working with various pharmaceutical companies to explore the incorporation of NexACT® into their existing drugs as a means of developing new patient-friendly transdermal products and extending patent lifespans and brand equity. For further information about the Company, go to www.nexmed.com.
Statements under the Private Securities Litigation Reform Act: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to its ability to maintain reduced expenditures, enter into partnering agreements, pursue growth opportunities, and/or other factors, some of which are outside the control of the Company.
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Company Contact:
Linda Burns
Senior Director Corporate Relations
NexMed, Inc.
(609) 371-8123, ext: 184
lburns@nexmed.com
Investor Relations:
Paula Schwartz
Rx Communications Group, LLC
(917) 322-2216
pschwartz@rxir.com
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