Business
Zura Bio to Join the Russell 2000® and Russell 3000® Indexes
SAN DIEGO--(BUSINESS WIRE)-- Zura Bio Limited (Nasdaq: “ZURA”) (“Zura Bio” or the “Company”), a multi-asset clinical-stage biotechnology company focused on
About this update from Zura Bio Limited
[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nZura Bio Limited (Nasdaq: “ZURA”) (“Zura Bio” or the “Company”), a multi-asset clinical-stage biotechnology company focused on developing novel medicines for immune and inflammatory disorders, today announced it will be added to the Russell 2000® and Russell 3000® Indexes at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the US market opens on June 26, 2023.\n\nAnnual Russell indexes reconstitution captures the 4,000 largest US stocks as of April 28, 2023 ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the 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.\n\n“We believe that Zura Bio’s inclusion in the Russell 2000® and 3000® indexes reflects the market’s appreciation of our clinical pipeline, our recently completed financing, and the potential of Zura Bio as a leader in controlling immune mediated diseases,” said Verender Badial, Chief Financial Officer of Zura Bio. “We expect that joining the index will further raise awareness of Zura Bio among the investment community and we look forward to a potentially increased weighting in the indexes following the next quarterly rebalance that will take into account our recently closed financing.”\n\nThe inclusion in the indexes was based on the market capitalization of Zura Bio on April 28, 2023. The next quarterly index rebalance in September will consider the increased capitalization and public float from the new shares issued in a private placement transaction which closed in two tranches, the first in May 2023 and the second in June 2023. A registration statement on Form S-1 covering the resale of such newly issued shares has been filed with the Securities and Exchange Commission.\n\nRussell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.\n\nAbout Zura Bio\n\nZura Bio is a multi-asset ...