BOSTON, June 16, 2020 /PRNewswire/ -- NeuroBo
Pharmaceuticals, Inc. (Nasdaq: NRBO), a clinical-stage
biotechnology company focused on developing and commercializing
multimodal, disease-modifying therapies for neurodegenerative and
cardiometabolic diseases, today reported that the company is
scheduled to join the broad-market Russell 3000® and
Microcap® Indexes at the conclusion of the 2020 Russell
indexes annual reconstitution, effective after the US market opens
on June 29, according to a final list
of additions posted June 15.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of May 8, 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
"We believe that inclusion in the Russell indexes will
meaningfully increase our visibility to the investment community
and reflects the market's acceptance of NeuroBo Pharmaceuticals as
a publicly traded company since the completion of our reverse
merger with Gemphire Therapeutics in December 2019," said Richard J. Kang, Ph.D., President and Chief
Executive Officer of NeuroBo. "Our scientific activities remain
highly focused and we look forward to continuing the development of
novel treatments for patients with neurodegenerative and
cardiometabolic diseases."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $9 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.
About NeuroBo Pharmaceuticals
NeuroBo Pharmaceuticals,
Inc. is focused on novel treatments for neurodegenerative and
cardiometabolic diseases affecting millions of patients worldwide.
The company's multimodal approach has the potential to address
multiple underlying mechanisms of neurodegenerative diseases,
alleviate symptoms and slow disease progression. The company's drug
candidate, NB-01, for the treatment of painful diabetic neuropathy
(PDN), has been shown in a Phase 2 study to significantly reduce
pain symptoms associated with PDN with a superior safety profile
when compared to currently available treatments. Due to the global
COVID-19 crisis, a planned Phase 3 study is currently postponed. In
the interim, NeuroBo is exploring a potential orphan drug
indication and/or a nutraceutical pathway targeting chronic pain
for NB-01. NeuroBo's drug candidate, NB-02, is focused on the
treatment of Alzheimer's disease and neurodegenerative diseases
associated with the pathological dysfunction of tau proteins in the
brain. The company is also exploring an orphan drug pathway for
NB-02. The company's third program, Gemcabene, is focused on
developing and commercializing therapies for the treatment of
dyslipidemia, a serious medical condition that increases the risk
of life-threatening cardiovascular disease.
NeuroBo Pharmaceuticals was jointly founded by Dr. Roy
Freeman, professor of neurology at Harvard Medical
School and renowned expert in neuropathic pain, and JK
BioPharma Solutions, a biotechnology consulting company, to
commercialize natural product-based research into ethical
medicines. In December 2019, NeuroBo
merged with Gemphire Therapeutics and, through such merger, became
listed on the Nasdaq Stock Market and added the Gemcabene family of
related assets to its portfolio. For more information
visit: https://www.neurobopharma.com.
About FTSE Russell
FTSE Russell is a leading global
index provider creating and managing a wide range of indexes, data
and analytic solutions to meet client needs across asset classes,
style and strategies. Covering 98% of the investable market, FTSE
Russell indexes offer a true picture of global markets, combined
with the specialist knowledge gained from developing local
benchmarks around the world.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$16 trillion is currently benchmarked
to FTSE Russell indexes. 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 investment funds, ETFs, structured products and index-based
derivatives. FTSE Russell indexes also provide clients with tools
for asset allocation, investment strategy analysis and risk
management.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on index innovation and customer
partnership applying the highest industry standards and embracing
the IOSCO Principles. FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit www.ftserussell.com
Forward Looking Statements
Any statements in this
press release that are not statements of historical fact constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements include, but are not limited to, statements regarding
NeuroBo's pending admission to the Russell 3000® and
Microcap® Indexes and anticipated increased visibility
to the investment community, the development of NeuroBo's product
candidates and the therapeutic potential, timing and nature of
clinical trials and potential regulatory approval of NeuroBo's
clinical programs and pipeline. Forward-looking statements are
usually identified by the use of words, such as "believes,"
"anticipates," "expects," "intends," "plans," "may," "potential,"
"will," "could" and similar expressions. Actual results may differ
materially from those indicated by forward-looking statements as a
result of various important factors and risks. These factors, risks
and uncertainties include, but are not limited to the factors
discussed in the "Risk Factors" section of NeuroBo's Annual Report
on Form 10-K and in our other filings with the Securities and
Exchange Commission. In addition, the forward-looking statements
included in this press release represent NeuroBo's views as of the
date hereof. NeuroBo anticipates that subsequent events and
developments will cause its views to change. However, while NeuroBo
may elect to update these forward-looking statements at some point
in the future, NeuroBo specifically disclaims any obligation to do
so. These forward-looking statements should not be relied upon as
representing NeuroBo's views as of any date subsequent to the date
hereof.
Contacts:
Rx Communications Group
Michael Miller
+1-917-633-6086
mmiller@rxir.com
View original
content:http://www.prnewswire.com/news-releases/neurobo-pharmaceuticals-to-join-russell-3000-and-microcap-indexes-301078146.html
SOURCE NeuroBo Pharmaceuticals, Inc.