Cidara Therapeutics, Inc. (NASDAQ:CDTX), a biotechnology company developing long-acting therapeutics designed to save lives and improve the standard of care for patients facing serious diseases, announced today it has joined the broad market Russell Microcap® Index at the conclusion of the Russell U.S. Indexes annual reconstitution. The newly reconstituted Index will become effective after the U.S. equity market opens on Monday, June 26, 2023.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of April 28, 2023, ranking them by total market capitalization. Membership in the U.S. 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 U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the Russell Reconstitution section on the FTSE Russell website: https://www.ftserussell.com/resources/russell-reconstitution
