Provention Bio Announces Inclusion in the Russell 3000 Index and Russell 2000 Index

Rhea-AI Summary

Provention Bio, Inc. (Nasdaq: PRVB) has been included in the Russell 3000® and Russell 2000® indexes as part of the annual reconstitution, effective June 29, 2020. This inclusion, based on market capitalization as of May 8, 2020, positions Provention Bio among the largest U.S. stocks, with Russell indexes serving as benchmarks for around $9 trillion in assets. The company focuses on innovative treatments for autoimmune diseases, with its lead candidate, teplizumab, aimed at delaying insulin-dependent type 1 diabetes onset.

Positive

• Inclusion in the Russell 3000® and Russell 2000® indexes enhances visibility and credibility among investors.
• Membership in these indexes supports potential increased investment due to the $9 trillion in assets benchmarked against Russell's indexes.

Negative

• None.

OLDWICK, N.J., June 29, 2020 /PRNewswire/ -- Provention Bio, Inc., (Nasdaq: PRVB), a biopharmaceutical company dedicated to intercepting and preventing immune-mediated diseases, today announced that it has been added to the broad-market Russell 3000® Index and the small-cap Russell 2000® Index as part of the Russell US Indexes annual reconstitution.

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 8, 2020 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. 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 $9 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

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

About Provention Bio, Inc.

Provention Bio, Inc. (Nasdaq: PRVB) is a biopharmaceutical company leveraging a transformational drug development strategy focused on the prevention or interception of immune-mediated disease. Provention's mission is to source, transform and develop therapeutic candidates targeting the high morbidity, mortality and escalating costs of autoimmune diseases. Provention's diversified portfolio includes teplizumab, a pre-commercial-stage candidate that has been shown to delay the onset of insulin-dependent type 1 diabetes (T1D) in at-risk patients during the presymptomatic phase of the disease. The Company's portfolio includes additional clinical product development candidates that have demonstrated proof-of-mechanism and/or proof-of-concept in other autoimmune diseases, including celiac disease and lupus.

Investor Contact:
Sam Martin, Argot Partners
Sam@argotpartners.com
212-600-1902

Media:
Lori Rosen, LDR Communications
lori@ldrcommunications.com
917-553-6808

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SOURCE Provention Bio, Inc.

FAQ

What does the inclusion in the Russell 3000® index mean for PRVB?

Inclusion in the Russell 3000® index enhances Provention Bio's visibility and credibility, attracting potential investment.

When was Provention Bio added to the Russell 3000® index?

Provention Bio was added to the Russell 3000® index on June 29, 2020.

What is the market capitalization requirement to be included in the Russell indexes?

The Russell indexes include the largest U.S. stocks based on market capitalization as of May 8, 2020.

How much money is benchmarked against the Russell indexes?

Approximately $9 trillion in assets are benchmarked against Russell's U.S. indexes.

What is Provention Bio's main focus?

Provention Bio focuses on developing therapies to intercept and prevent immune-mediated diseases.