Benzinga | Sep 15, 2021 06:22AM EDT

Unicycive Therapeutics to Be Added to Russell Microcap Index

Unicycive Therapeutics, Inc. (NASDAQ:UNCY), a clinical stage biotechnology company developing therapies for patients with kidney disease, today announcedthe Company is scheduled to be added as a member of the Russell Microcap(r)Index as part of the 2021 Russell indexes reconstitution after the market opens on September 20, 2021, based on a preliminary list of additions.

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.

"Joining the Russell Microcap(r) Index is an important event for Unicyciveas we receive recognition from one of the most prominent index providers followed by investment managers across the country," said Shalabh Gupta, M.D., Chief Executive Officer. "As a newly public company, our addition to this index will expand the interest and visibility of Unicycive within the investment community.We appreciate the recognition this achievement brings and will look to leverage our elevated platform to generate further interest and awareness in our clinical programs."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $17.9 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.