Soleno Therapeutics Set to Join Russell 3000® Index
04 Juni 2024 - 2:00PM
Soleno Therapeutics, Inc. (“Soleno”) (NASDAQ: SLNO), a
clinical-stage biopharmaceutical company developing novel
therapeutics for the treatment of rare diseases, today announced
that it is set to join the broad-market Russell 3000® 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,
according to a preliminary list of additions posted Friday, May 24,
2024.
“Inclusion in the Russell indexes is a significant milestone and
reflects the meaningful progress Soleno has made in advancing our
lead candidate DCCR (diazoxide choline) extended-release tablets
through clinical development,” said Anish Bhatnagar, M.D., Chief
Executive Officer of Soleno Therapeutics. “We look forward to
broader visibility associated with joining the Russell indexes as
we approach regulatory milestones and continue to execute on our
corporate strategy.”
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 US 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. According to the data as of the end
of December 2023, about $10.5 trillion in assets are benchmarked
against the Russell US indexes, which belong to FTSE Russell, a
prominent global index provider.
For more information on the Russell 3000® Index
and the Russell indexes reconstitution, go to the “Russell
Reconstitution” section on the FTSE Russell website.
About Soleno Therapeutics, Inc.Soleno is
focused on the development and commercialization of novel
therapeutics for the treatment of rare diseases. The company’s lead
candidate, DCCR (diazoxide choline) extended-release tablets, a
once-daily oral tablet for the treatment of Prader-Willi syndrome
(PWS), recently completed its Phase 3 development program to
support a planned NDA submission. For more information, please
visit www.soleno.life.
About FTSE RussellFTSE 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.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of Section
21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical facts contained in
this press release are forward-looking statements, including
statements regarding the timing of any regulatory process, filing
of an NDA, or ultimate approvals and determining a path forward for
DCCR for the treatment of PWS. In some cases, you can identify
forward-looking statements by terms such as "may," "will,"
"should," "expect," "plan," "anticipate," "could," "intend,"
"target," "project," "contemplates," "believes," "estimates,"
"predicts," "potential" or "continue" or the negative of these
terms or other similar expressions. These forward-looking
statements speak only as of the date of this press release and are
subject to a number of risks, uncertainties and assumptions,
including the risks and uncertainties associated with the projected
timeline of our NDA submission, whether FDA will agree with our
interpretation of the data or the adequacy of data to support an
NDA, the FDA’s review of our NDA, market conditions, as well as
risks and uncertainties inherent in Soleno’s business, including
those described in the company's prior press releases and in the
periodic reports it files with the SEC. The events and
circumstances reflected in the company's forward-looking statements
may not be achieved or occur and actual results could differ
materially from those projected in the forward-looking statements.
Except as required by applicable law, the company does not plan to
publicly update or revise any forward-looking statements contained
herein, whether as a result of any new information, future events,
changed circumstances or otherwise.
Corporate Contact:Brian RitchieLifeSci
Advisors, LLC212-915-2578
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