NEW YORK, Feb. 11, 2014 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced that trading of NephroGenex (Nasdaq:NRX), a drug development company focusing on kidney disease, commenced on The NASDAQ Stock Market on February 11, 2014.
NephroGenex ( www.nephrogenex.com) is a pharmaceutical company focused on the development of therapeutics to treat kidney disease, an area of significant unmet medical need. More than 20 million Americans have some form of chronic kidney disease, and over 400,000 in the U.S. have end stage renal disease requiring dialysis, making renal disease one of the costliest illnesses to treat. The Company is developing Pyridorin™ (pyridoxamine dihydrochloride) as a chronic, therapeutic agent to slow the progression of diabetic nephropathy. Pyridorin™ has demonstrated preliminary evidence of efficacy in slowing the progression of diabetic nephropathy in three Phase 2 clinical studies. Pyridorin™ is one of only a few drug candidates in advanced clinical trials for diabetic kidney disease, and there are currently no adequate treatments for diabetic nephropathy.
"NephroGenex is a pioneer in the research and development of the treatment of kidney disease," said Nelson Griggs, Senior Vice President, NASDAQ OMX Corporate Client Group. "We are thrilled to welcome NephroGenex to The NASDAQ Stock Market and look forward to watching their continued growth and success in the future."NephroGenex joins a variety of cutting-edge biotechnology companies that call NASDAQ OMX home. NASDAQ OMX has been the exchange of choice to 100 percent of biotech companies that have listed on the U.S. markets year-to-date in 2014. Cautionary Note Regarding Forward-Looking Statements The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither The NASDAQ OMX Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding NASDAQ-listed companies are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
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