Avid Bioservices Added to Russell 3000® Index and Russell 2000® Index
June 25 2018 - 8:05AM
Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated
biologics contract development and manufacturing organization
(CDMO) working to improve patient lives by providing high quality
development and manufacturing services to biotechnology and
pharmaceutical companies, today announced that the company has been
added to the Russell 3000® Index and Russell 2000® Index as part of
FTSE Russell’s annual reconstitution of its family of U.S.
indexes. The addition takes effect as of market open on June
25, 2018.
Annual Russell U.S. Indexes reconstitution
captures the 4,000 largest U.S. stocks as of May 11, 2018, ranking
them by total market capitalization. Membership in the
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 Russell Microcap®
Index. FTSE Russell determines membership for its Russell US
Indexes primarily by objective, market-capitalization rankings and
style attributes.
Russell US Indexes are widely used by investment
managers and institutional investors as the basis for index funds
and as benchmarks for active investment strategies. Approximately
$9 trillion in assets are benchmarked against Russell US Indexes.
Russell US Indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell
3000® Index and the Russell US Indexes reconstitution, go to
the “Russell Reconstitution” section on the FTSE Russell
website.
About Avid Bioservices,
Inc.Avid Bioservices is a dedicated contract development
and manufacturing organization (CDMO) focused on development and
cGMP manufacturing of biopharmaceutical products derived from
mammalian cell culture. The company provides a comprehensive
range of process development, high quality cGMP clinical and
commercial manufacturing services for the biotechnology and
biopharmaceutical industries. With 25 years of experience
producing monoclonal antibodies and recombinant proteins in batch,
fed-batch and perfusion modes, Avid's services include cGMP
clinical and commercial product manufacturing, purification, bulk
packaging, stability testing and regulatory strategy, submission
and support. The company also provides a variety of process
development activities, including cell line development and
optimization, cell culture and feed optimization, analytical
methods development and product characterization.
www.avidbio.com
Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
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