Processa Pharmaceuticals (NASDAQ: PCSA), a clinical-stage biopharmaceutical company developing products to improve the survival and quality of life for patients who have unmet medical needs, announced that it is set to join the Russell Microcap(R)Index. The company noted that it is scheduled to make the move at the conclusion of the 2021 Russell indexes annual reconstitution effect, or after the U.S. market opens on June 28. Companies that join the index typically remain for at least one year and are automatically included in appropriate growth and value style indexes. Russell indexes are commonly used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. The announcement noted that approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. “Inclusion in this index is an important milestone for our company, one that we believe will increase our exposure within the investment community and provide us with a meaningful opportunity to reach new investors, particularly those who use the Russell indexes to benchmark their portfolios,” said Processa CEO and chair Dr. David Young.
To view the full press release, visit https://ibn.fm/kwjnZ
About Processa Pharmaceuticals Inc.
The mission of Processa is to develop products with existing clinical evidence of efficacy for patients with unmet or underserved medical conditions who need treatment options that improve survival and/or quality of life. The company uses these criteria for selection to further develop its pipeline programs to achieve high-value milestones effectively and efficiently. PCSA’s active clinical pipeline programs include PCS6422 (“PCS6422”) (metastatic colorectal cancer and breast cancer), PCS499 (“PCS499”) (ulcerative necrobiosis lipoidica) and PCS12852 (“PCS12852”) (GI motility/gastroparesis). The markets of each indication are in excess of $1 billion each. The members of the Processa development team have been involved with more than 30 FDA drug approvals, including drug products targeted to orphan disease conditions, and more than 100 FDA meetings throughout their careers. For more information, visit the company’s website at www.ProcessaPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to PCSA are available in the company’s newsroom at https://ibn.fm/PCSA
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