Progenity Announces Addition to Russell 2000® Index

Rhea-AI Summary

Progenity, a biotechnology firm, has been officially added to the Russell 2000 Index, effective September 18, 2020. This index tracks small-cap stocks in the U.S. equity market and is utilized by investment managers and institutional investors, with approximately $9 trillion in assets benchmarked against it. Progenity specializes in developing molecular testing products and aims to enhance patient care through precise diagnostics and targeted therapies. This inclusion may enhance Progenity's visibility and appeal to a broader investor base.

Positive

• Inclusion in the Russell 2000 Index enhances visibility among institutional investors.
• Potential for increased investment due to the appeal of small-cap index tracking.
• Focus on precision medicine and innovative diagnostic solutions positions the company favorably.

Negative

• None.

SAN DIEGO, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Progenity, Inc. (Nasdaq: PROG), a biotechnology company with an established track record of success in developing and commercializing molecular testing products, today announced that it will be added to the Russell 2000^®  Index, effective when the U.S. market opens on Friday, September 18, 2020.

The Russell 2000^® Index measures the performance of the small-cap segment of the U.S. equity market. 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 U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

About Progenity

Progenity, Inc. is a biotechnology company with an established track record of success in developing and commercializing molecular testing products, as well as innovating in the field of precision medicine. Progenity provides in vitro molecular tests designed to improve lives by providing actionable information that helps guide patients and physicians in making medical decisions during key life stages. The company applies a multi-omics approach, combining genomics, epigenomics, proteomics, and metabolomics to its molecular testing products and to the development of a suite of investigational ingestible devices designed to provide precise diagnostic sampling and drug delivery solutions. Progenity’s vision is to transform healthcare to become more precise and personal by improving diagnoses of disease and improving patient outcomes through localized treatment with targeted therapies. For additional information about Progenity, please visit the company’s website at www.progenity.com.

Investor Contact:
Robert Uhl
Managing Director, Westwicke ICR
ir@progenity.com
(619) 228-5886

Media Contact:
Kate Blom-Lowery
CG Life
kblomlowery@cglife.com
(858) 457-2436

FAQ

What does Progenity's inclusion in the Russell 2000 Index mean for investors?

Progenity's inclusion in the Russell 2000 Index may attract institutional investors and increase trading volume, potentially boosting the stock's value.

When was Progenity added to the Russell 2000 Index?

Progenity was added to the Russell 2000 Index effective September 18, 2020.

What is the significance of the Russell 2000 Index?

The Russell 2000 Index measures the performance of small-cap stocks in the U.S. equity market and serves as a benchmark for many investment funds.

What type of products does Progenity develop?

Progenity develops molecular testing products designed to improve medical decision-making and patient outcomes.