Generex Biotech on the Move

Shares of Generex Biotech (Nasdaq: GNBT) are extending their gains from early this morning, jumping $.27 to $1.74 on heavy volume of 7.7 million shares. Earlier this morning, the company announced that it would join the Russell Microcap Index when Russell Investment Group reconstitutes its family of U.S. indexes on June 30.

Anna Gluskin, Generex's President and Chief Executive Officer said that Generex's "inclusion in the Russell Microcap Index reflects the significant progress we have made in the past year in the development of drug delivery systems" and their inclusion in the index should help "increase the Company's visibility with investors and institutions that rely on the Russell indexes as part of their investment strategy." Despite the market sell-off, investors are still carrying shares of Generex higher due speculation that the Russell listing could give exposure to some large investment firms.