Adial Pharmaceuticals Inc (NASDAQ: ADIL) Is In The Russell Microcap® Index And Seelos Therapeutics Inc (NASDAQ: SEEL) Is In the Russell 2000®, Russell 3000® and Russell Microcap® Indexes

Adial Pharmaceuticals Inc (NASDAQ: ADIL) has found a place in the Russell Microcap® Index. Likewise, Seelos Therapeutics Inc (NASDAQ: SEEL) has confirmed that the company found a place in the Russell 2000®, Russell 3000®, and Russell Microcap® Indexes. The inclusion of both the companies comes as part of the 2021 Russell U.S. Indexes Reconstitution. The inclusion in the Russell Indexes is effective after the market opened on June 28, 2021.

Here’s what both the companies do 

Adial Pharmaceuticals Inc develops therapies to treat and prevent addiction and related disorders. Seelos Therapeutics Inc is a clinical-stage biopharmaceutical that develops therapies for patients suffering from central nervous system disorders and rare diseases. 

Officials from the two companies react to the good news

William Stilley, Chief Executive Officer of Adial Pharmaceuticals Inc, commented, “We are pleased to join the Russell Microcap® Index. We believe this addition reflects the progress we are making to increase shareholder value by advancing our lead investigational new drug product, AD04, through our ONWARD™ Phase 3 trial for the treatment of alcohol use disorder and due to our acquisition of Purnovate and its adenosine drug development platform. In addition, Adial’s inclusion in the index may help improve awareness, liquidity, and exposure within the global community of institutional investors.”

“The inclusion of Seelos into the Russell 2000, 3000 and microcap indexes should help increase our exposure in the investment community and is a tribute to the progress we have made building the company over the past year,” said Raj Mehra, Ph.D., Chairman, and CEO of Seelos Therapeutics Inc.

Russell indexes extensively used by the investment community

Russell indexes are regarded as a yardstick by investors who plan active investment strategies. Institutional investors and investment managers widely use the Russell indexes. As a result, the dependency on the indexes is high. The indexes are part of FTSE Russell, a global index leader that provides innovative benchmarking, analytics, and data solutions for investors worldwide.

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