WALTHAM, Mass., June 27, 2016 (GLOBE NEWSWIRE) -- Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage biopharmaceutical company, today announced that the Company has been added to the Russell 3000® Index and the Russell 2000® Index. Trading in these newly reconstituted indexes will begin when the equity markets open on June 27, 2016.
Annual reconstitution of the Russell US Indexes captures the 4,000 largest U.S. stocks as of the end of May 2016, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion for the Company in the small cap Russell 2000® Index. FTSE Russell determines membership in its Russell Indexes by objective market-capitalization rankings and investment style attributes.
“We are delighted that clinical advancements with Minerva’s portfolio of product candidates have been reflected in the Company’s market capitalization, resulting in its addition to the Russell 3000® and Russell 2000® Indexes,” said Geoff Race, executive vice president, chief financial officer and chief business officer of Minerva.
Indexes provided by FTSE Russell, a leading global index provider, are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $6 trillion in assets are benchmarked against the Russell U.S. Indexes.
About Minerva Neurosciences
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of a portfolio of products to treat central nervous system (CNS) diseases. Minerva’s proprietary compounds include: MIN-101, which has completed Phase IIb development for schizophrenia; MIN-202 (JNJ-42847922), which has completed Phase IIa and Phase Ib clinical trials for insomnia and MDD, respectively; MIN-117, which has completed Phase IIa development for MDD; and MIN-301, in pre-clinical development for Parkinson’s disease. Minerva’s common stock is listed on the NASDAQ Global Market under the symbol “NERV.”