CVRx Set to Join Russell 2000 & 3000 Indexes
June 22 2023 - 3:30PM
CVRx, Inc. (NASDAQ: CVRX) (“CVRx”), a commercial-stage medical
device company focused on developing, manufacturing and
commercializing innovative neuromodulation solutions for patients
with cardiovascular diseases, today announced that it is set to
join the Russell 2000 Index and the broad-market Russell 3000 Index
at the conclusion of the 2023 Russell indexes annual
reconstitution, effective after the US market opens on June 26,
according to a preliminary list of additions posted May 19.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of April 28, ranking them by total market
capitalization. Membership in the US 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.
"We are thrilled to be joining the prestigious Russell 2000
Index and the broad-market Russell 3000 Index. Being part of these
renowned indexes further solidifies our position in the market and
highlights our commitment to delivering value to our shareholders.”
said Nadim Yared, President and Chief Executive Officer of CVRx.
“We look forward to the opportunities that this recognition brings
and remain dedicated to improving the lives of patients
worldwide."
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 US indexes. Russell
indexes are part of FTSE Russell, a leading global index
provider.
About CVRx, Inc.
CVRx is a commercial-stage medical device company focused on
developing, manufacturing and commercializing innovative
neuromodulation solutions for patients with cardiovascular
diseases. Barostim™ is the first medical technology approved by FDA
that uses neuromodulation to improve the symptoms of patients with
heart failure. Barostim is an implantable device that delivers
electrical pulses to baroreceptors located in the wall of the
carotid artery. Baroreceptors activate the body’s baroreflex, which
in turn triggers an autonomic response to the heart. The therapy is
designed to restore balance to the autonomic nervous system and
thereby reduce the symptoms of heart failure. Barostim received the
FDA Breakthrough Device designation and is FDA-approved for use in
heart failure patients in the U.S. It has also received the CE Mark
for heart failure and resistant hypertension in the European
Economic Area. To learn more about Barostim, visit
www.cvrx.com.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide.
FTSE Russell calculates thousands of indexes that measure and
benchmark markets and asset classes in more than 70 countries,
covering 98% of the investable market globally. FTSE Russell index
expertise and products are used extensively by institutional and
retail investors globally. Approximately $20.1 trillion is
currently benchmarked to FTSE Russell indexes. For over 30 years,
leading asset owners, asset managers, ETF providers and investment
banks have chosen FTSE Russell indexes to benchmark their
investment performance and create ETFs, structured products and
index-based derivatives. A core set of universal principles guides
FTSE Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on applying the highest
industry standards in index design and governance and embraces the
IOSCO Principles. FTSE Russell is also focused on index innovation
and customer partnerships as it seeks to enhance the breadth, depth
and reach of its offering. FTSE Russell is wholly owned by London
Stock Exchange Group. For more information, visit
www.ftserussell.com.
Investor Contact:
Mark Klausner or Mike VallieICR
Westwicke443-213-0501ir@cvrx.com
Media Contact:
Laura O’NeillFinn
Partners402-499-8203laura.oneill@finnpartners.com
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