Aerovate Therapeutics Announces Its Addition to the Russell 2000® Index
September 17 2021 - 7:00AM
Aerovate Therapeutics, Inc. (Nasdaq: AVTE), a clinical stage
biopharmaceutical company focused on developing drugs that
meaningfully improve the lives of patients with rare
cardiopulmonary disease, announced it has been added to the Russell
2000® Index, effective after the market’s close today, following
the recent Russell US Indexes annual reconstitution.
"We’re pleased to be included in the Russell 2000® Index, as it
provides a great opportunity to share our story with a broader
audience of investors,” said Timothy Noyes, chief executive officer
of Aerovate. “We’ve built a strong team with deep cardiopulmonary
disease experience, and raised capital needed to advance AV-101,
our dry powder inhaled formulation of the drug imatinib for the
treatment of pulmonary arterial hypertension, or PAH. We expect to
initiate enrollment this year in the Phase 2b portion of our Phase
2b/3 trial of AV-101 in PAH.”
The Russell 2000® Index measures the performance of the
small-cap segment of the U.S. equity market. The index is a subset
of the Russell 3000® Index and represents approximately 10 percent
of the total market capitalization of that index. 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 2000® Index and the Russell
indexes reconstitution, visit the FTSE Russell website.
About Aerovate Therapeutics Aerovate is a
clinical stage biopharmaceutical company focused on developing
drugs that meaningfully improve the lives of patients with rare
cardiopulmonary disease. Aerovate's initial focus is on advancing
AV-101, its dry powder inhaled formulation of the drug imatinib for
the treatment of pulmonary arterial hypertension, or PAH. For more
information, please visit www.aerovatetx.com.
Cautionary Note Regarding Forward-Looking
Statements This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. Forward-looking statements can be
identified by words such as “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “future,” “goal,” “intend,” “look
forward to,” “may,” “plan,” “potential,” “predict,” “project,”
“potential,” seek,” “strategy,” “should,” “target,” “will,” “would”
and similar expressions regarding future periods. These
forward-looking statements include, but are not limited to,
statements regarding the potential benefits resulting from the
inclusion in the Russell 2000® Index to our business and strategy;
our expectations that we will initiate enrollment this year for the
Phase 2b portion of our Phase 2b/3 trial of AV-101 in PAH; and our
business plans and objectives, future plans for AV-101, including
expectations regarding timing and success of the our Phase 2b/3
clinical trial and the therapeutic potential and clinical benefits
of AV-101. Any forward-looking statements in this press release are
based on management’s current expectations and beliefs and are
subject to a number of risks, uncertainties and important factors
that may cause actual events or results to differ materially from
those expressed or implied by any forward-looking statements
contained in this press release, including, without limitation,
those risks and uncertainties related to the therapeutic potential
of AV-101, and the timing associated with the initiation or
continuation of our Phase 2b/3 trial of AV-101 in PAH patients, the
impact of the COVID-19 pandemic on our business, clinical trials,
operations and goals, positive results from a clinical study may
not necessarily be predictive of the results of future or ongoing
clinical studies, regulatory developments in the United States and
foreign countries, and other risks identified in our filings with
the Securities and Exchange Commission (“SEC”), including our
Registration Statement on Form S-1, and subsequent filings with the
SEC. We caution you not to place undue reliance on any
forward-looking statements, which speak only as of the date they
are made. We disclaim any obligation to publicly update or revise
any such statements to reflect any change in expectations or in
events, conditions or circumstances on which any such statements
may be based, or that may affect the likelihood that actual results
will differ from those set forth in the forward-looking statements.
Any forward-looking statements contained in this press release
represent our views only as of the date hereof and should not be
relied upon as representing its views as of any subsequent
date.
Media Contact:
Julio Cantrejcantre@vergescientific.com
202.930.4762
Investor Contact:IR@Aerovatetx.com
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