Korro Joins the Russell 2000®, Russell 3000®, and Russell Microcap® Indexes
Korro Bio has been added to the Russell 2000, Russell 3000, and Russell Microcap Indexes as part of the annual reconstitution effective July 1, 2024. This inclusion is based on market capitalization rankings determined by FTSE Russell. Korro Bio's CEO, Dr. Ram Aiyar, emphasized their commitment to advancing their drug candidate, KRRO-110, for Alpha-1 Antitrypsin Deficiency, with plans to file with regulatory agencies in the second half of 2024 and an interim data readout in the second half of 2025. The inclusion in these indexes is expected to enhance value for Korro's stakeholders.
- Inclusion in Russell 2000, 3000, and Microcap Indexes increases visibility and credibility.
- Plan to file KRRO-110 with regulatory agencies in H2 2024 indicates progress in drug development.
- Planned interim data readout for KRRO-110 in H2 2025 suggests potential future milestones.
- None
CAMBRIDGE, Mass., July 01, 2024 (GLOBE NEWSWIRE) -- Korro Bio, Inc. (Korro) (Nasdaq: KRRO) a biopharmaceutical company focused on developing a new class of genetic medicines based on editing RNA for both rare and highly prevalent diseases, today announced that it has been added to the Russell 2000®, Russell 3000®, and the Russell Microcap® Indexes as part of the annual reconstitution, effective at the open of US equity markets today, Monday, July 1.
The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30th, 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. Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
“Our focus at Korro is to bring transformative medicines to patients in need. In addition to the patients and their families, we have a commitment to the physicians that treat those patients, our employees, and our stockholders,” said Dr. Ram Aiyar, CEO and President of Korro. “We are advancing KRRO-110, our drug candidate for Alpha-1 Antitrypsin Deficiency, towards the clinic and plan to file with a regulatory agency in the second half of 2024. We believe we will demonstrate the potential of KRRO-110 with a planned interim data readout in the second half of 2025. We are excited to be included in the Russell 2000, 3000, and Microcap Indexes, reflecting our tireless execution. Inclusion in the Russell indexes will support our efforts to enhance value for our stakeholders.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of December 2023, about
For more information on the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About Korro:
Korro is a biopharmaceutical company focused on developing a new class of genetic medicines for both rare and highly prevalent diseases using its proprietary RNA editing platform. Korro is generating a portfolio of differentiated programs that are designed to harness the body’s natural RNA editing process to effect a precise yet transient single base edit. By editing RNA instead of DNA, Korro is expanding the reach of genetic medicines by delivering additional precision and tunability, which has the potential for increased specificity and improved long-term tolerability. Using an oligonucleotide-based approach, Korro expects to bring its medicines to patients by leveraging its proprietary platform with precedented delivery modalities, manufacturing know-how, and established regulatory pathways of approved oligonucleotide drugs. Korro is based in Cambridge, Massachusetts. For more information, visit korrobio.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 30 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.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, but are not limited to, express or implied statements regarding expectations, hopes, beliefs, intentions or strategies of Korro regarding the future including, without limitation, express or implied statements regarding: the potential benefits conferred by Korro’s inclusion in the Russell 3000® Index and the Russell Microcap® Index, as well as statements regarding Korro’s business, such as the timing of regulatory submissions, interim data readouts, the benefits of KRRO-110, Korro’s ability to expand the reach of genetic medicines, among others. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “aim,” “target,” “commit,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward looking. Forward-looking statements are based on current expectations and assumptions that, while considered reasonable are inherently uncertain. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control including risks inherent in biopharmaceutical development; risks associated with pre-clinical studies and clinical trials; and other risks associated with obtaining regulatory approvals and protecting intellectual property; as well as risks associated with general economic conditions; and other risks and uncertainties indicated from time to time in Korro’s filings with the SEC, including Part II Item 1A. “Risk Factors” in Korro’s Quarterly Report on Form 10-Q filed with the SEC on May 14, 2024, as such may be amended or supplemented by its other filings with the SEC. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this press release, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, Korro does not undertake or accept any duty to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or in the events, conditions or circumstances on which any such statement is based. This press release does not purport to summarize all of the conditions, risks and other attributes of an investment in Korro.
Korro Contact Information
Investors
IR@korrobio.com
Media
Glenn Silver
FINN Partners
Glenn.silver@finnpartners.com
FAQ
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