WAYNE, PA — Palvella Therapeutics, Inc. (Nasdaq: PVLA) has announced its inclusion in both the Russell 3000® Index and the Russell 2000® Index as part of the 2025 reconstitution of the Russell indexes. The addition took effect after the U.S. markets opened today, marking a significant milestone for the biopharmaceutical company.
The annual reconstitution of the Russell indexes identifies the 3,000 largest publicly traded U.S. companies, ranking them by total market capitalization. Inclusion in the Russell 3000® Index provides Palvella with automatic membership in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, depending on its market capitalization, along with the relevant growth and value style indexes.
“Joining the Russell 3000 and Russell 2000 indexes reflects Palvella’s continued growth and aligns us with larger pools of institutional investors and asset managers benchmarked to these indexes,” said the company.
Managed by FTSE Russell, the Russell indexes are prominent tools used by investment managers and institutional investors for index-based funds and active portfolio strategies. Approximately $10.6 trillion in assets, as of the end of June 2024, is benchmarked against the Russell U.S. indexes. This inclusion is expected to provide Palvella increased visibility in the investment community while enhancing liquidity in its shares.
This development spotlights Palvella’s growing market importance and serves as a vote of confidence in its business trajectory. Membership in the Russell indexes is likely to bolster the company’s reputation and attract new investment, further supporting its efforts to advance innovative therapies in the biopharmaceutical sector.
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