Business
CervoMed Announces Addition to Russell 2000® and Russell 3000® Indexes
BOSTON, June 24, 2024 (GLOBE NEWSWIRE) -- CervoMed Inc. (NASDAQ: CRVO), a clinical stage company focused on developing treatments for age-related neurologic
About this update from Cervomed Inc.
[{"type":"text","content":"BOSTON, June 24, 2024 (GLOBE NEWSWIRE) -- CervoMed Inc. (NASDAQ: CRVO), a clinical stage company focused on developing treatments for age-related neurologic disorders, today announced its expected addition to the Russell 2000® and Russell 3000® Indexes at the conclusion of the 2024 Russell U.S. Indexes annual reconstitution, effective when the U.S. equity markets open on Monday, July 1, 2024, according to the final preliminary list of 2024 additions posted on the FTSE Russell website on June 21st 2024. “Our addition in these widely followed Russell Indexes represents an important achievement for our company and is consistent with the increasing market recognition of the progress we have made in advancing neflamapimod as a potential first-to-market treatment option for patients with DLB,” said John Alam, MD, Chief Executive Officer of CervoMed. “We look forward to the further heightened awareness of our company that inclusion in the Russell Indexes may bring as we get closer to reporting topline results from the Phase 2b RewinD-LB trial in December 2024.” The annual Russell U.S. Indexes reconstitution captures the 4,000 largest U.S. stocks as of Tuesday, April 30th, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. For more information on the Russell 3000® Index, the Russell 2000® Index, and the Russell indexes reconstitution, please refer to the “Russell Reconstitution” section on the FTSE Russell website. About CervoMedCervoMed Inc. (the “Company”) is a clinical-stage company focused on developing treatments for age-related neurologic disorders. The Company is currently developing neflamapimod, an investigational, orally administered small molecule brain penetrant that inhibits p38MAP kinase alpha. Neflamapimod has the potential to treat synaptic dysfunction, the reversible aspect of the underlying neurodegene...