Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP), 9 Meters Biopharma Inc (NASDAQ: NMTR), And Braemar Hotels & Resorts (NYSE: BHR) have made it to the Russell 2000® and Russell 3000® Indexes, according to latest developments. The three corporate houses have confirmed the news.
Here is what the three companies do
Tonix Pharmaceuticals Holding Corp is involved in manufacturing and selling small molecules and biologics to treat pain, neurologic, psychiatric, and addiction conditions. Also, a clinical-stage biotechnology company, 9 Meters Biopharma Inc, is involved in finding a solution to treat rare needs gastroenterology conditions. Braemar Hotels & Resorts is a real estate investment trust (REIT) focusing on investing in luxury hotels and resorts.
Company officials react to the good news of being included in the indexes
“Tonix is pleased to be included in the Russell indexes which reflects our positive achievements and growth over the past year,” stated Seth Lederman, M.D., President and Chief Executive Officer of Tonix Pharmaceuticals Holding Corp. “These indexes are widely followed and we look forward to a broader awareness of our Company as a result of this inclusion,” added Lederman.
Meanwhile, John Temperato, President and Chief Executive Officer of 9 Meters Biopharma Inc said, “The addition of 9 Meters to these Russell Indexes is indicative of both the perseverance and accomplishments our team has made in the last year as we strive to become the treatment leader in rare and unmet gastroenterology disorders.” Temperato added, “Our inclusion in the Russell Indexes will raise our visibility among the international investment community at a favorable time, as we move towards several upcoming milestones.”
Also happy that his company has found a place in the Russell Index, Richard J. Stockton, Braemar’s President and Chief Executive Officer of Braemar Hotels & Resorts, said, “We are pleased to be added to the Russell 2000®, Russell 3000® and Russell Microcap® indexes which reflects our continued positive momentum and efforts to maximize value for our shareholders.”
Every year Russell indexes take note of the 4,000 largest U.S. companies and rank them based on their overall market capitalization. In addition, selected companies will be members of the U.S. all-cap Russell 3000® Index for one year. While the Russell 2000® Index is the most common benchmark for small-capitalization companies, the Russell Microcap® Index measures the performance of the microcap segment of the U.S. equity market.