MindMed to be Included in Russell 2000® and Russell 3000® Indexes

Rhea-AI Summary

Mind Medicine (MindMed) (NASDAQ: MNMD), a clinical stage biopharmaceutical company focused on brain health disorders, announced its inclusion in the Russell 2000® and Russell 3000® Indexes. This inclusion is part of the annual reconstitution of the Russell stock indexes, effective today. CEO Rob Barrow highlighted this milestone as a reflection of MindMed's commitment to treating anxiety and autism spectrum disorders through its product candidates MM120 and MM402. The Russell 3000® Index includes the 3,000 largest U.S.-traded stocks, and membership ensures automatic inclusion in the appropriate large-cap or small-cap indexes. This is significant as $9.1 trillion in assets are benchmarked against these indexes, providing greater visibility for MindMed among investment managers and institutional investors.

Positive

• Inclusion in Russell 2000® and Russell 3000® Indexes, enhancing visibility.
• Reflects recognition of MindMed's commitment to brain health treatments.
• Membership in the indexes includes automatic inclusion in relevant large-cap or small-cap indexes.
• Potential exposure to $9.1 trillion in assets benchmarked against Russell's U.S. Indexes.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), (the "Company" or "MindMed"), a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders, today announced today that as part of the annual reconstitution of the Russell stock indexes, the Company will be included in the Russell 2000^® Index and the broad-market Russell 3000^® Index, effective today.

“MindMed’s inclusion in the Russell Indexes mark an exciting milestone and reflects growing recognition of our commitment to addressing the unmet medical needs for people with brain health disorders by advancing MM120 for the treatment of general anxiety disorder and MM402 for the treatment of autism spectrum disorder,” said Rob Barrow, Chief Executive Officer of MindMed. “We are pleased to join the Russell Indexes and look forward to continuing to share our story with a broader audience of investors.”

Membership in the Russell 3000^® Index means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as in the appropriate growth and value style indexes. The Russell 3000^® Index encompasses the 3,000 largest U.S.-traded stocks by objective, market-capitalization rankings, and style attributes. Membership in these indexes is updated annually and remains in place for one year.

The Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9.1 trillion in assets are benchmarked against Russell's U.S. Indexes. Russell Indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell Indexes and the Russell U.S. Indexes Reconstitution, visit the "Russell Reconstitution" section on the FTSE Russell website.

About MindMed

MindMed is a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders. Our mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative drug candidates, with and without acute perceptual effects, targeting the serotonin, dopamine, and acetylcholine systems.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240628586419/en/

For Media: media@mindmed.co

For Investors: ir@mindmed.co

Source: Mind Medicine Inc.

FAQ

What is MNMD?

MNMD is the stock symbol for Mind Medicine (MindMed), a clinical stage biopharmaceutical company.

When was MindMed included in the Russell 2000® and Russell 3000® Indexes?

MindMed was included in the Russell 2000® and Russell 3000® Indexes during the annual reconstitution, effective today.

Why is MindMed's inclusion in the Russell Indexes significant?

Inclusion in the Russell Indexes enhances MindMed's visibility among investment managers and institutional investors, potentially increasing exposure to $9.1 trillion in assets benchmarked against these indexes.

What are the key product candidates of MindMed mentioned in the PR?

MindMed's key product candidates mentioned are MM120 for treating general anxiety disorder and MM402 for treating autism spectrum disorder.

How often are memberships in the Russell Indexes updated?

Memberships in the Russell Indexes are updated annually.