INOVIO Added to Russell 2000® Index Effective July 1, 2024

Rhea-AI Summary

INOVIO (NASDAQ: INO), a biotechnology company, has been added to the Russell 2000® Index effective July 1, 2024. This inclusion is part of the annual reconstitution of the Russell stock indexes, which became effective after markets closed on June 28, 2024. INOVIO's CEO, Dr. Jacqueline Shea, noted that the last year has been transformational for the company, highlighting advancements with their lead candidate INO-3107 for RRP. The company plans to submit a BLA for INO-3107 under the FDA's accelerated approval pathway in late 2024 and aims for a commercial launch in 2025, pending approval. INOVIO is also progressing with other candidates like INO-3112 for head and neck cancer, INO-5401 for GBM, and INO-4201 as an Ebola vaccine booster. The Russell US Indexes, managed by FTSE Russell, capture the 4,000 largest U.S. stocks by market capitalization, with $10.5 trillion in assets benchmarked against them as of December 2023.

Positive

• INOVIO added to the Russell 2000® Index, signifying market recognition.
• Plans to submit a BLA for INO-3107 and aim for commercial launch in 2025.

Negative

• None.

PLYMOUTH MEETING, Pa., July 1, 2024 /PRNewswire/ -- INOVIO (NASDAQ: INO), a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-associated diseases, cancer and infectious diseases, today announced its inclusion in the Russell 2000^® Index as part of the annual reconstitution of the Russell stock indexes. This reconstitution became effective after the close of the US equities markets on June 28, 2024.

"The last year has been transformational for INOVIO thanks to our strategic vision focused on advancing late-stage candidates, particularly our lead candidate INO-3107 for RRP," said INOVIO's President and Chief Executive Officer, Dr. Jacqueline Shea. "Being readded to the Russell 2000 signifies the value of the progress we have made recently and our commitment to the next level of our strategy, which includes our plans to submit a BLA for INO-3107 under the FDA's accelerated approval pathway in the second half of 2024 and preparing to be commercial launch-ready in 2025, should INO-3107 be approved. We also continue to work to advance other product candidates, including the next steps for INO-3112 in head and neck cancer, INO-5401 in GBM, and INO-4201 as an Ebola vaccine booster. We look forward to sharing our progress on these and other programs as the year unfolds."

The annual reconstitution of the Russell US Indexes captures the 4,000 largest U.S. stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000^® Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000^® Index or the small-cap Russell 2000^® Index, as well as the applicable 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. According to data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell U.S. indexes, which belong to FTSE Russell, a prominent global index provider.

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

About INOVIO
INOVIO is a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases. INOVIO's technology optimizes the design and delivery of innovative DNA medicines that teach the body to manufacture its own disease-fighting tools. For more information, visit www.inovio.com.

About FTSE Russell
FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. A comprehensive range of reliable and accurate indexes provides investors worldwide with the tools they require to measure and benchmark markets across asset classes, styles, or strategies.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. For over 40 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.

FTSE Russell is focused on applying the highest industry standards in index design and governance, employing transparent rules-based methodology informed by independent committees of leading market participants. FTSE Russell fully embraces the IOSCO Principles, and its Statement of Compliance has received independent assurance. Index innovation is driven by client needs and customer partnerships, allowing FTSE Russell to continually enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit https://www.lseg.com/en/ftse-russell. 

Contacts
Media: Jennie Willson, (267) 429-8567, jennie.willson@inovio.com
Investors: Thomas Hong, (267) 440-4298, thomas.hong@inovio.com 

 

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SOURCE INOVIO Pharmaceuticals, Inc.

FAQ

What is the significance of INOVIO being added to the Russell 2000® Index?

INOVIO's addition to the Russell 2000® Index indicates market recognition and includes the company in a widely-used benchmark for investment managers and institutional investors.

When did INOVIO become part of the Russell 2000® Index?

INOVIO was added to the Russell 2000® Index effective July 1, 2024, following the annual reconstitution that took effect after the close of US equity markets on June 28, 2024.

What are INOVIO's future plans for INO-3107?

INOVIO plans to submit a BLA for INO-3107 under the FDA's accelerated approval pathway in the second half of 2024 and aims to be commercial launch-ready in 2025, pending approval.

How does the Russell 2000® Index inclusion impact INOVIO?

Inclusion in the Russell 2000® Index provides INOVIO with greater visibility and credibility among investors, potentially attracting more investment.