Reneo Pharmaceuticals Added to Russell 2000® and Russell 3000® Indices

Rhea-AI Summary

Reneo Pharmaceuticals, Inc. has been added to the broad-market Russell 3000® Index, effective June 26. This inclusion in the index may have positive implications for the company's stock price.

Positive

• Reneo Pharmaceuticals, Inc. being added to the Russell 3000® Index could attract more investors and increase demand for the stock.

Negative

• None.

IRVINE, Calif., June 26, 2023 (GLOBE NEWSWIRE) -- Reneo Pharmaceuticals, Inc. (Nasdaq: RPHM), a clinical-stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, today announced that it has been added to the broad-market Russell 3000® Index at the conclusion of the 2023 Russell indexes annual reconstitution, effective after the US market opens on June 26, according to a preliminary list of additions posted May 19.

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of April 28, 2023, 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 $12.1 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 Reneo Pharmaceuticals

Reneo is a clinical-stage pharmaceutical company focused on the development and commercialization of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). Our lead product candidate, mavodelpar, is a potent and selective agonist of the peroxisome proliferator-activated receptor delta (PPARδ). Mavodelpar has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation (FAO), and may increase production of new mitochondria. For additional information, please see reneopharma.com.

About FTSE Russell

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20.1 trillion is currently benchmarked to FTSE Russell indexes. 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.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

Contacts:

Danielle Spangler
Investor Relations
Reneo Pharmaceuticals, Inc.
dspangler@reneopharma.com

Matthew Purcell, Pharm.D.
Media Inquiries
Russo Partners, LLC
matthew.purcell@russopartnersllc.com

FAQ

What is the Russell 3000® Index?

The Russell 3000® Index is a broad-market index that includes the 3,000 largest US stocks based on market capitalization.

What are the benefits of being added to the Russell 3000® Index?

Being added to the Russell 3000® Index can lead to increased visibility, potential inclusion in other Russell indexes, and greater investor interest.

How does the Russell indexes reconstitution work?

The Russell indexes reconstitution takes place annually and captures the 4,000 largest US stocks based on market capitalization. The stocks are then ranked and added to the appropriate Russell indexes.

What is the significance of the Russell indexes?

Russell indexes are widely used by investment managers and institutional investors as benchmarks for active investment strategies and index funds.