On June 23, 2022 Aadi Bioscience, Inc. (NASDAQ: AADI), a biopharmaceutical company focused on developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes, reported it will join both the U.S. small cap Russell 2000 Index and broad-market Russell 3000 Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective immediately after the U.S. market opens on June 24, 2022 according to a preliminary list of additions posted by FTSE Russell on June 3, 2022 (Press release, Aadi Bioscience, JUN 23, 2022, View Source [SID1234616201]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
"We are pleased to be included in the Russell U.S. Indexes as it reflects the progress we have made within our first year as a public company and elevates our visibility within the global investment community, benefiting both our Company and our shareholders," said Neil Desai, PhD, Founder, President and Chief Executive Officer of Aadi Bioscience. "We look forward to continuing to build on what we have achieved so far, including the approval and successful launch of FYARRO as well as our kickoff of the tumor agnostic PRECISION 1 trial in patients with TSC1 or TSC2 alterations. We look forward to helping to meet the needs of patients as well as creating value for all stakeholders."
The annual reconstitution of the Russell indexes captures the 4,000 largest U.S. stocks as of May 6, 2022, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000Index, 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.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.