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CAMBRIDGE, MA — September 16, 2004 — Momenta Pharmaceuticals,
Inc. (Nasdaq: MNTA) announced today that it will be included in the
Russell 3000 Index when the Index is reconstituted effective October
1, 2004 to reflect companies who have recently completed successful
initial public offerings (IPOs). Momenta completed its IPO on June 25,
2004 and is one of 48 companies that have recently completed IPOs to
be added to the reconstituted Russell U.S. indexes. Membership in the
Russell 3000 means automatic inclusion in either the large-cap Russell
1000Ò Index or small-cap Russell 2000Ò Index.
“We are pleased to be included in the Russell
3000 index, as it is another step highlighting Momenta’s growing
visibility in the investment community,” commented Alan Crane,
Chairman and Chief Executive Officer of Momenta. “We feel privileged
to be included amongst this selection of the leading growth companies
in the U.S.”
Russell is a multi-manager investment strategies
firm which offers a full range of tailored solutions to goal-oriented
investors. According to Russell, its indexes are widely used by managers
for index funds and as benchmarks for both passive and active investment
strategies, more than $360 billion is invested in index funds based
on Russell’s indexes, and an additional $850 billion is benchmarked
to them. Investment managers who oversee these funds typically purchase
shares of member stocks according to that company’s weighting
in the particular index. Membership in Russell’s U.S. equity indexes
is determined primarily by market capitalization rankings and style
attributes.
Russell announced in August that its family of U.S.
indexes will selectively add IPOs on a quarterly basis, beginning September
30, 2004, in order to enhance how well each index reflects its segment
of the U.S. equity market and to complement its annual reconstitution
efforts. Annual reconstitution of the Russell indexes captures the 3,000
largest U.S. 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 Index while the remaining 2,000
companies become the widely used Russell 2000 Index.
About Momenta
Momenta Pharmaceuticals, Inc. is a biotechnology company specializing
in the sequencing and engineering of complex sugars for the development
of improved versions of existing drugs, the development of novel drugs
and the discovery of new biological processes. Momenta is also utilizing
its ability to sequence sugars to create technology-enabled generic
products. The Company’s most advanced product candidate is M-Enoxaparin,
a technology-enabled generic version of Lovenox®. Based on its understanding
of complex sugars, Momenta has created a diversified pipeline of novel
discovery and development candidates. Momenta was founded in 2001 and
is headquartered in Cambridge, MA.
To receive additional information about Momenta,
please visit our website at www.momentapharma.com, which does not form
a part of this press release.
Forward Looking Statements
Statements in this press release regarding Momenta Pharmaceuticals Inc.’s
future expectations, beliefs, goals, plans or prospects constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. Momenta’s actual results could differ materially
from those stated or implied in forward-looking statements due to a
number of factors, including those factors contained in Momenta’s
final prospectus dated June 21, 2004 filed with the Securities and Exchange
Commission in connection with Momenta’s initial public offering
under the section “Risk Factors,” as well as other documents
that may be filed by Momenta from time to time with the Securities and
Exchange Commission. Forward-looking statements include statements regarding
Momenta’s expectations, beliefs, intentions or strategies regarding
the future and can be identified by forward-looking words such as “anticipate”,
“believe”, “could”, “estimate”,
“expect”, “intend”, “may”, “should”,
“will”, and “would” or similar words. Momenta
assumes no obligations to update the information included in this press
release.
Our logo, trademarks, and service marks are the property
of Momenta Pharmaceuticals, Inc. All other trade names, trademarks,
or service marks are property of their respective owners and are not
the property of Momenta Pharmaceuticals, Inc.
Contact: Valerie Threlfall, Momenta Pharmaceuticals,
Inc. 617-395-5116
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