Benzinga | Jun 10, 2021 08:42AM EDT

Tenax Therapeutics Set To Join Russell Microcap Index

Tenax Therapeutics, Inc. (NASDAQ:TENX), a specialty pharmaceutical company focused on identifying, developing and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical need, is set to join the Russell Microcap(r) Index at the conclusion of the 2021 Russell indexes annual reconstitution effect after the U.S. market opens on June 28, according to a preliminary list of additions posted June 4.

Membership in the Russell Microcap(r) Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

"Our inclusion in the Russell Microcap Index comes at an exciting time for our company, as we expect to advance our two lead drug development programs (imatinib and levosimendan) towards Phase 3 clinical trials", said Anthony DiTonno, Chief Executive Officer of Tenax Therapeutics. "Over the next several months, we also anticipate a series of important research publications that will support Tenax's pioneering approach towards the treatment of Pulmonary Hypertension and Heart Failure with Preserved Ejection Fraction. We therefore value our inclusion into this widely followed Index, which should increase our visibility among institutional investors at such an important time in our company's growth."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 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 Microcap(r) Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.