TELA Bio, Inc. to Join the Russell 2000® Index

Rhea-AI Summary

TELA Bio, Inc. (Nasdaq: TELA) announced its inclusion in the Russell 2000 Index, effective June 26, 2020. This milestone reflects TELA's growth trajectory in the medical technology sector, focusing on tissue reinforcement materials for soft tissue reconstruction. The company aims to enhance visibility among institutional investors, leveraging the approximately $9 trillion in assets that benchmark against the Russell U.S. Indices. CEO Tony Koblish emphasized this achievement as a sign of their operational and financial growth initiatives.

Positive

• Inclusion in the Russell 2000 Index enhances visibility among institutional investors.
• Reflects TELA's growth trajectory and progress in the market.

Negative

• None.

MALVERN, Pa., June 22, 2020 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA") (Nasdaq: TELA), a commercial stage medical technology company focused on designing, developing and marketing a new category of tissue reinforcement materials to address unmet needs in soft tissue reconstruction, today announced that the company will be added to the Russell 2000® Index at the conclusion of the Russell U.S. Indices annual reconstitution, effective after the U.S. market opens on June 26, 2020.

"We are honored to be added to the Russell Indices," said Tony Koblish, TELA Bio President and Chief Executive Officer. "We believe the inclusion in the Russell 2000 Index exemplifies our trajectory of growth and the strides we are making in the market place and investment community.” As a newly public company, we look forward to raising our visibility and awareness with leading institutional investors worldwide as we continue to make progress on our operational and financial growth initiatives."

Russell U.S. Indices are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell U.S. Indices. Russell U.S. Indices are part of FTSE Russell, a leading global index provider.

About TELA Bio, Inc.

TELA Bio, Inc. is a commercial stage medical technology company focused on designing, developing, and marketing a new category of tissue reinforcement materials to address unmet needs in soft tissue reconstruction. TELA's products are designed to improve on shortcomings of existing biologics and minimize long-term exposure to permanent synthetic material. TELA's portfolio is supported by quality, data-driven science and extensive pre-clinical research that has consistently demonstrated advantages over other commercially available products.

Caution Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations are forward-looking statements and reflect the current beliefs of TELA's management. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements including, among others: the risks and uncertainties set forth in the "Risk Factors" section and elsewhere in our filings with the Securities and Exchange Commission and available at www.sec.gov, including in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements that we make in this announcement speak only as of the date of this press release, and TELA assumes no obligation to updates to our forward-looking statements whether as a result of new information, future events or otherwise after the date of this press release, except as required under applicable law.

TELA Bio Contact
Stuart Henderson
Vice President, Corporate Development and Investor Relations
TELA Bio, Inc.
484-320-2930

Investor Contact
Greg Chodaczek
347-620-7010 
ir@telabio.com

 

FAQ

What is TELA Bio's recent achievement related to the Russell 2000 Index?

TELA Bio will be added to the Russell 2000 Index effective June 26, 2020.

How does being included in the Russell 2000 Index impact TELA Bio?

Inclusion in the Russell 2000 Index is expected to raise TELA's visibility and attract institutional investors.

What type of company is TELA Bio?

TELA Bio is a commercial stage medical technology company focused on tissue reinforcement materials.

Who is the CEO of TELA Bio?

The CEO of TELA Bio is Tony Koblish.