PHILADELPHIA, PA — Carisma Therapeutics Inc. (Nasdaq: CARM), a clinical-stage biopharmaceutical company, announced that the Company has joined the Russell 2000®, Russell 3000® and Russell Microcap® Indexes following the conclusion of the 2023 Russell indexes annual reconstitution, effective June 26, 2023.
“We are thrilled to be added to the Russell indexes, which marks another notable milestone following the successful closing of our merger in March,” said Steven Kelly, President and Chief Executive Officer of Carisma. “As we continue to advance our pipeline of CAR-Macrophage therapies, we anticipate our inclusion will bring greater market awareness to our CAR-M platform and its potential to overcome the hurdles of current cell therapy in the treatment of solid tumors by modulating the tumor microenvironment through using innate immune system cells. We’re also looking forward to broadening our visibility within the investment community, which we expect will expand our shareholder base and help enhance the liquidity in our stock.”
The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, ranking them by total market capitalization. Membership in the U.S. 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. 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.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.