Home Trending Stocks PDS Biotechnology Corp. (PDSB) Stock Rallies Following Inclusion in Russell Microcap Index

PDS Biotechnology Corp. (PDSB) Stock Rallies Following Inclusion in Russell Microcap Index

PDS Biotechnology Corp. (PDSB) stock prices were down by a concerning 26.45% as of the market closing on June 7th, 2021, bringing the price per share down to USD$9.40 at the end of the trading day. Subsequent pre-market fluctuations saw the stock rise by 8.51%, bringing it up to USD$10.20.

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Inclusion in Russell Microcap Index

The clinical-stage immunotherapy company announced on June 7th, 2021 that it was set to join the Russel Microcap Index. This move is expected to be implemented at the conclusion of the Russel indexes annual reconstitution for 2021, effective as of the markets opening in the U.S. on June 28th, 2021. From that point on, the company’s membership in the Russel Microcap Index will remain in place for one year.

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Russell Microcap Index

This year-long membership means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines inclusion of companies as members of its index primarily by objective, market-capitalization ranking, and style attributes. Inclusion in the Russell Microcap Index underscores the progress PDSB has been making to increase shareholder value, which the company facilitates by driving its three Phase 2 clinical programs forwards.

Clinical Programs

The programs are for PDSB’s lead HPV-cancer immunotherapy, PDS0101, and include an oral presentation at the American Society of Clinical Oncology annual meeting later in the day of the initial announcement. The company will present interim data for its trial led by the National Cancer Institute. Inclusion in the index has resulted in heightened visibility of the company within the global investment community.

Foundation of Success

PDSB continues to push for the commercialization of PDS0101 while concurrently moving its pipeline of oncology products forward through to human testing during the fiscal year 2021. The company is pleased to have been included in the indexes, which are widely used by investment managers and institutional investors for index fund. Also being used as benchmarks for active investment strategies, there are nearly USD$10.6 million in assets that are currently benchmarked against Russell’s US indexes.

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Future Outlook for PDSB

Armed with the recent inclusion into such a high-profile index, PDSB is poised to capitalize on the advantages this brings, both directly and indirectly. Management is hopeful that this will help accelerate the progression of the development of their pipeline. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

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