ProPhase Labs Added to the Russell Microcap Index

Rhea-AI Summary

ProPhase Labs, Inc. (Nasdaq: PRPH) has been added to the Russell Microcap Index as of June 28, 2021, following the annual reconstitution of Russell Indexes. This inclusion is expected to enhance company awareness among a broader investor base and improve liquidity. FTSE Russell determines membership through market-capitalization rankings. The Russell Indexes are widely recognized benchmarks for investment managers, with approximately $10.6 trillion in assets linked to them. ProPhase Labs offers clinical diagnostic services, including COVID-19 testing, under its subsidiary ProPhase Diagnostics.

Positive

• Inclusion in the Russell Microcap Index enhances visibility for ProPhase Labs among investors.
• Improved liquidity is anticipated as a result of the index membership.
• Membership in the Russell Microcap Index positions ProPhase in various growth and value style indexes.

Negative

• None.

GARDEN CITY, NY, June 28, 2021 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (Nasdaq: PRPH) (“ProPhase” or the “Company”), a diversified medical science and technology company, today announces that it has been added to the Russell Microcap Index. This milestone became effective at the conclusion of the 2021 Russell Indexes’ annual reconstitution, which occurred immediately following the U.S. market opening today, June 28, 2021.

“ProPhase’s inclusion in the Russell Microcap Index marks an important milestone for our Company and presents an important opportunity for us to further expand awareness of our company among a broader group of investors, which we expect will also further enhance our liquidity,” said Ted Karkus, CEO of ProPhase Labs.

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.

Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. Indexes. Russell Indexes are part of FTSE Russell, a leading global index provider.

About ProPhase Labs

ProPhase Labs, Inc. (Nasdaq: PRPH) is a diversified medical science and technology company. The Company’s subsidiary, ProPhase Diagnostics, offers a broad array of clinical diagnostic insights and testing services at its CLIA certified laboratories. ProPhase Diagnostics serves patients with SARS-CoV-2 (COVID-19) through both saliva and nasal swab methods. Our methodology also has the capability to identify the possibility of mutations. Critical to COVID testing, results are provided in under 24 hours. ProPhase also offers PCR (polymerase chain reaction) testing for Influenzas A and B and RSV. ProPhase Diagnostics now offers antigen and antibody/immunity tests in partnership with scientists to broaden its COVID-19 testing beyond RT-PCR testing. ProPhase Labs researches, develops, manufactures, distributes, markets, and sells OTC consumer healthcare products and dietary supplements, including dietary supplements under the TK Supplements^® brand. ProPhase actively pursues strategic investments and acquisition opportunities for other companies, technologies, and products. For more information, visit www.ProPhaseLabs.com. 

Forward Looking Statements

Except for the historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand awareness of our company and enhance our liquidity as a result of our addition to the Russell Microcap Index. Management believes that these forward-looking statements are reasonable as and when made. However, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include but are not limited to the risk factors listed from time to time in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and any other SEC filings.

Investor Contact:
Ted Karkus, Chairman and CEO
ProPhase Labs, Inc.
(267) 880-1111

FAQ

What does ProPhase Labs' inclusion in the Russell Microcap Index mean?

ProPhase Labs' inclusion in the Russell Microcap Index enhances company visibility and liquidity among investors.

When was ProPhase Labs added to the Russell Microcap Index?

ProPhase Labs was added to the Russell Microcap Index on June 28, 2021.

How does ProPhase Labs benefit from the Russell Indexes?

ProPhase Labs benefits from increased investor awareness and potential liquidity from being part of a widely recognized index.

What is the significance of the Russell Microcap Index?

The Russell Microcap Index is significant as it is benchmarked by investment managers for active investment strategies, covering approximately $10.6 trillion in assets.