FibroBiologics, Inc., (Nasdaq: FBLG) ("FibroBiologics"), a
clinical-stage biotechnology company with 150+ patents issued and
pending with a focus on the development of therapeutics and
potential cures for chronic diseases using fibroblasts and
fibroblast-derived materials, announced today it is set to join the
Russell 2000® Index at the conclusion of the 2024 Russell US
Indexes annual reconstitution, effective at the open of US equity
markets on Monday, July 1, according to a preliminary list of
additions posted Friday, May 24.
The annual Russell US Indexes reconstitution
captures the 4,000 largest US stocks as of Tuesday, April 30,
ranking them by total market capitalization. Membership in the
Russell 2000® 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.
Pete O’Heeron, CEO and Founder of
FibroBiologics, said, “FibroBiologics’ potential inclusion in the
Russell Index helps validate our Direct Listing earlier this year
and our continuing scientific efforts to advance our novel
fibroblast-based therapeutic candidates. We believe our addition to
the index will raise our profile in the investment world, increase
our stock’s liquidity, and broaden our shareholder base.”
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.
“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,” commented Fiona Bassett, CEO
of FTSE Russell, An LSEG Business.
For more information on the Russell 2000® Index
and the Russell indexes reconstitution, go to the “Russell
Reconstitution” section on the FTSE Russell website.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include information
concerning joining the Russell 2000® Index and potential benefits
of being included in the index. These forward-looking statements
are based on FibroBiologics' management's current expectations,
estimates, projections and beliefs, as well as a number of
assumptions concerning future events. When used in this
communication, the words "estimates," "projected," "expects,"
"anticipates," "forecasts," "plans," "intends," "believes,"
"seeks," "may," "will," "should," "future," "propose" and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance, conditions or results, and
involve a number of known and unknown risks, uncertainties,
assumptions and other important factors, many of which are outside
FibroBiologics' management's control, that could cause actual
results to differ materially from the results discussed in the
forward-looking statements, including those set forth under the
caption "Risk Factors" and elsewhere in FibroBiologics' annual,
quarterly and current reports (i.e., Form 10-K, Form 10-Q and Form
8-K) as filed or furnished with the SEC and any subsequent public
filings. Copies are available on the SEC's website at www.sec.gov.
These risks, uncertainties, assumptions and other important factors
include, but are not limited to: (a) the ability of FibroBiologics
to continue to meet Nasdaq listing requirements; (b) risks related
to FibroBiologics' liquidity and its ability to maintain capital
resources sufficient to conduct its business; and (c) the ability
to continue to be included in the Russell 2000® Index.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and FibroBiologics assumes no obligation and, except as
required by law, does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. FibroBiologics gives no assurance that
it will achieve its expectations.
About FibroBiologics:Based in
Houston, FibroBiologics is a cell therapy and regenerative medicine
company developing a pipeline of treatments and seeking potential
cures for chronic diseases using fibroblast cells and
fibroblast-derived materials. FibroBiologics holds 150+ US and
internationally issued patents/patents pending across various
clinical pathways, including disc degeneration, orthopedics,
multiple sclerosis, wound healing, reversing organ involution, and
cancer. FibroBiologics represents the next generation of medical
advancement in cell therapy. For more information, please visit
FibroBiologics' website or email FibroBiologics at:
info@fibrobiologics.com.
About FTSE Russell:
FTSE Russell is a leading global provider of
benchmarking, analytics, and data solutions for investors, giving
them a precise view of the market relevant to their investment
process. A comprehensive range of reliable and accurate indexes
provides investors worldwide with the tools they require to measure
and benchmark markets across asset classes, styles, or
strategies.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
For over 30 years, leading asset owners, asset managers, ETF
providers and investment banks have chosen FTSE Russell indexes to
benchmark their investment performance and create ETFs, structured
products, and index-based derivatives.
FTSE Russell is focused on applying the highest
industry standards in index design and governance, employing
transparent rules-based methodology informed by independent
committees of leading market participants. FTSE Russell fully
embraces the IOSCO Principles, and its Statement of Compliance has
received independent assurance. Index innovation is driven by
client needs and customer partnerships, allowing FTSE Russell to
continually enhance the breadth, depth and reach of its
offering.
FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit
https://www.lseg.com/en/ftse-russell.
Investor Relations:Nic Johnson Russo
Partners212-845-4242fibrobiologicsIR@russopr.com
Media Contact:Liz PhillipsRusso Partners(347)
956-7697Elizabeth.phillips@russopartnersllc.com
General Inquiries:info@fibrobiologics.com
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