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Unicycive Therapeutics Joins Russell Microcap® Index
LOS ALTOS, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- Unicycive Therapeutics, Inc. (Nasdaq: UNCY), a clinical-stage biotechnology company developing therapies
About this update from Unicycive Therapeutics, Inc.
[{"type":"text","content":"LOS ALTOS, Calif., July 01, 2024 (GLOBE NEWSWIRE) -- Unicycive Therapeutics, Inc. (Nasdaq: UNCY), a clinical-stage biotechnology company developing therapies for patients with kidney disease (the “Company” or “Unicycive”), today announced it was included in the Russell Microcap Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1, 2024. The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30th, ranking them by total market capitalization. Membership in the Russell Microcap Index, which remains in place for one 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 represents the latest milestone as a public company and validates the progress we have made over the last year,” said, Shalabh Gupta, MD, Chief Executive Officer of Unicycive. “Inclusion in the Index continues our strong momentum following our positive clinical trial results for oxylanthanum carbonate (OLC) announced last week. We believe our addition to this index will benefit our shareholders by increasing our visibility within the investment community.” Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell’s US indexes serve as the benchmark for about $10.5 trillion in assets as of the close of December 2023. Russell indexes are part of FTSE Russell, a leading global index provider. Fiona Bassett, CEO of FTSE Russell, An LSEG Business, comments, “Russell indexes–now in their 40th year–continue to evolve to reflect the dynamic US economy. Annual rebalancing plays a vital role in establishing accurate benchmarks, ensuring they correctly mirror their designated market segments and remain unbiased in terms of size and style.” For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website. About FTSE Russell: FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise v...