MindMed Joins Russell 2000® Index
Clinical stage biopharmaceutical company, MindMed (Nasdaq: MNMD) has been accepted to the Russell 2000® Index and the broad-market Russell 3000® Index. Membership in the Russell 3000® Index means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as in the appropriate growth and value style indexes. The company’s shares climbed in after market trading following the news.
“MindMed’s inclusion in the Russell Indexes mark an exciting milestone and reflects growing recognition of our commitment to addressing the unmet medical needs for people with brain health disorders by advancing MM120 for the treatment of general anxiety disorder and MM402 for the treatment of autism spectrum disorder. We are pleased to join the Russell Indexes and look forward to continuing to share our story with a broader audience of investors,” said Rob Barrow, Chief Executive Officer of MindMed, in a company statement.
MindMed is developing a treatment for generalized anxiety disorder (GAD) and recently announced the successful completion of an End-of-Phase 2 meeting with the FDA supporting the advancement of MM120 (lysergic acid diethylamide [LSD] D-tartrate) into pivotal trials for the treatment of adults with GAD.
The Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9.1 trillion in assets are benchmarked against Russell’s U.S. Indexes. Russell Indexes are part of FTSE Russell, a leading global index provider.
About MindMed
MindMed is a clinical stage biopharmaceutical company developing novel product candidates to treat brain health disorders. Our mission is to be the global leader in the development and delivery of treatments that unlock new opportunities to improve patient outcomes. We are developing a pipeline of innovative drug candidates, with and without acute perceptual effects, targeting the serotonin, dopamine, and acetylcholine systems.
