Akoya Set to Join Russell 3000® Index

Rhea-AI Summary

Akoya Biosciences, Inc. (Nasdaq: AKYA) announced its upcoming inclusion in the Russell 3000® Index, effective June 28, 2021. This membership positions Akoya for potential visibility and investment opportunities within the broader market, as it guarantees automatic inclusion in either the Russell 1000® or Russell 2000® Index. The company highlights this milestone following the successful IPO in April that raised $153.3 million, reinforcing its commitment to enhancing shareholder value and advancing its spatial biology platform.

Positive

• Inclusion in the Russell 3000® Index enhances visibility and exposure to investors.
• Successful IPO raised $153.3 million, strengthening financial position.
• Automatic membership in Russell 1000® or Russell 2000® Index provides additional opportunities.

Negative

• None.

MARLBOROUGH, Mass., June 09, 2021 (GLOBE NEWSWIRE) -- Akoya Biosciences, Inc. (Nasdaq: AKYA) (“Akoya”), The Spatial Biology Company®, is set to join the broad-market Russell 3000^® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, 2021, according to a preliminary list of additions posted by FTSE Russell on June 4, 2021.

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 are pleased Akoya is set to join the Russell 3000® index, and we believe this will increase the overall awareness of, and exposure to, our stock among the investment community,” said Brian McKelligon, Chief Executive Officer of Akoya. “Our inclusion follows the successful closing of our IPO in April, which raised $153.3 million in gross proceeds, and validates our commitment to increasing shareholder value and growing our spatial biology platform.”

For more information on the Russell 3000® Index and the Russell indexes reconstitution, visit the "Russell Reconstitution" section on the FTSE Russell website.

About Akoya Biosciences
As The Spatial Biology Company®, Akoya Biosciences’ mission is to bring context to the world of biology and human health through the power of spatial phenotyping. The company offers comprehensive single-cell imaging solutions that allow researchers to phenotype cells with spatial context and visualize how they organize and interact to influence disease progression and treatment response. Akoya offers two distinct solutions, the CODEX® and Phenoptics™ platforms, to serve the diverse needs of researchers across discovery, translational and clinical research.

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

Investor Contact:
David Deuchler
Gilmartin Group LLC
investors@akoyabio.com

Media Contact:
Michelle Linn
Bioscribe, Inc.
774-696-3803
michelle@bioscribe.com

FAQ

When will Akoya Biosciences join the Russell 3000® Index?

Akoya Biosciences will join the Russell 3000® Index on June 28, 2021.

What does being included in the Russell 3000® Index mean for AKYA?

Inclusion means increased visibility and exposure among the investment community, potentially leading to greater interest in AKYA stock.

How much money did Akoya raise in its IPO?

Akoya raised $153.3 million in gross proceeds during its IPO in April.

What other indexes will Akoya be included in due to Russell 3000® membership?

Akoya will automatically be included in the Russell 1000® or Russell 2000® Index and their respective growth and value style indexes.