Ocugen to Join Russell 3000® Index
In a significant development, Ocugen, Inc. (NASDAQ: OCGN) has announced its expected inclusion in the prestigious Russell 3000® Index. This move is set to take effect after the market closes on June 28, 2024, as per the preliminary Russell reconstruction information available on the FTSE Russell website. This decision marks a milestone for Ocugen, highlighting the company’s innovative gene and cell therapies and vaccines.
Ocugen’s Chairman, CEO, and Co-founder, Dr. Shankar Musunuri, expressed excitement about the inclusion, emphasizing the transformative year the company has had. With several groundbreaking modifier gene therapies in clinical trials, including the Phase 3 liMeliGhT trial of OCU400 for retinitis pigmentosa, Ocugen is poised for growth and long-term value creation.
The Russell 3000® Index reconstitution, which evaluates the performance of the top 3,000 U.S. companies, will provide Ocugen with increased visibility within the investment community. Membership in this index also means automatic inclusion in growth and value style indexes, further solidifying Ocugen’s position in the market.
FTSE Russell’s Benchmarking Expertise
FTSE Russell, a leading global provider of benchmarking, analytics, and data solutions for investors, plays a crucial role in determining the composition of the Russell indexes. With a focus on market-capitalization rankings and style attributes, FTSE Russell ensures that the indexes accurately reflect the market landscape.
Investment managers and institutional investors rely on Russell indexes as benchmarks for their investment strategies, with approximately $10.5 trillion in assets tracking these indexes. The rigorous methodology employed by FTSE Russell in index design and governance ensures transparency and accuracy in benchmarking market performance.
Ocugen’s Commitment to Innovation
As a biotechnology company dedicated to discovering, developing, and commercializing novel gene and cell therapies and vaccines, Ocugen is committed to improving global health outcomes. Through its modifier gene therapy platform, Ocugen aims to address retinal diseases and infectious diseases, contributing to public health initiatives and addressing unmet medical needs.
With a focus on innovation and scientific advancement, Ocugen continues to forge new paths in the biotechnology industry. The company’s dedication to research and development underscores its mission to make a positive impact on patients’ lives worldwide.
In conclusion, Ocugen’s inclusion in the Russell 3000® Index is a testament to its commitment to innovation and growth in the biotechnology sector. As the company continues to advance its pipeline of therapies and vaccines, it is poised to make significant contributions to global health and patient care.
