Ocuphire Pharma announced that the company is set to join the Russell Microcap Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, 2021, according to a preliminary list of additions posted June 4, 2021.
Membership in the Russell Microcap Index, which remains in place for 1 year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
“Inclusion in the Russell Microcap Index reflects the progress we are making by advancing our late-stage clinical programs for Nyxol and APX3330, and developing our pre-commercialization plans for Nyxol for the treatment of reversal of mydriasis,” Mina Sooch, MBA, President and CEO of Ocuphire Pharma, said in a company news release. “Inclusion in the Index benefits our company and shareholders by elevating our visibility within the global investment community. We look forward to continuing our progress towards an NDA submission and delivering on several key clinical trial catalysts through 2021 and 2022.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell‚Äôs US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.