LEXINGTON, Mass.--(BUSINESS WIRE)--Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a biotechnology company developing novel immune-modulating therapies to treat ocular and systemic diseases, today announced that the company was added to the broad-market Russell 3000® Index and the small-cap Russell 2000® Index, effective after the U.S. market opened on June 28, 2021, as part of the 2021 Russell reconstitution.
The annual reconstitution of the Russell indexes captures the 4,000 largest US stocks as of May 7, 2021 by total market capitalization. The Russell 3000® Index is comprised of the large-cap Russell 1000® Index and the small-cap Russell 2000® Index. FTSE Russell, a leading global index provider, determines membership for the Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“Our addition to the Russell indexes reflects the growing interest in Aldeyra over the past 12 months, as we have advanced reproxalap toward commercialization in dry eye disease and allergic conjunctivitis, initiated Phase 2 clinical trials of ADX-629 in systemic disease, and enhanced our liquidity,” stated Todd C. Brady, M.D., Ph.D., the company’s President and Chief Executive Officer. “As a result of our strong pipeline, highly differentiated therapeutic approach, and anticipated development milestones, Aldeyra is well positioned to attract new investors in the coming quarters.”
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.
About Aldeyra Therapeutics
Aldeyra Therapeutics is a biotechnology company developing novel immune-modulating therapies to treat ocular and systemic diseases. Two of the company’s lead product candidates, reproxalap and ADX-629, target RASP (reactive aldehyde species), which are pre-cytokine, systems-based mediators of inflammation. Reproxalap is being evaluated in Phase 3 clinical trials in patients with dry eye disease and allergic conjunctivitis. The company’s clinical pipeline also includes ADX-2191, a dihydrofolate reductase inhibitor in Phase 3 testing for proliferative vitreoretinopathy. For more information, visit https://www.aldeyra.com/ and follow us on LinkedIn, Facebook, and Twitter.