Korro Bio, Inc. (Korro) (Nasdaq: KRRO) a biopharmaceutical company
focused on developing a new class of genetic medicines based on
editing RNA for both rare and highly prevalent diseases, today
announced that it has been added to the Russell 2000®, Russell
3000®, and the Russell Microcap® Indexes as part of the annual
reconstitution, effective at the open of US equity markets today,
Monday, July 1.
The annual Russell US Indexes reconstitution
captures the 4,000 largest US stocks as of Tuesday, April 30th,
ranking them by total market capitalization. Membership in the US
all-cap Russell 3000 Index, which remains in place for one year,
means automatic inclusion in the large-cap Russell 1000 Index or
small-cap Russell 2000 Index as well as the appropriate growth and
value style indexes. Membership in the Russell Microcap Index,
which remains in place for one year, means automatic inclusion in
the appropriate growth and value style indexes. FTSE Russell
determines membership for its Russell indexes primarily by
objective, market-capitalization rankings, and style
attributes.
“Our focus at Korro is to bring transformative
medicines to patients in need. In addition to the patients and
their families, we have a commitment to the physicians that treat
those patients, our employees, and our stockholders,” said Dr. Ram
Aiyar, CEO and President of Korro. “We are advancing KRRO-110, our
drug candidate for Alpha-1 Antitrypsin Deficiency, towards the
clinic and plan to file with a regulatory agency in the second half
of 2024. We believe we will demonstrate the potential of KRRO-110
with a planned interim data readout in the second half of 2025. We
are excited to be included in the Russell 2000, 3000, and Microcap
Indexes, reflecting our tireless execution. Inclusion in the
Russell indexes will support our efforts to enhance value for our
stakeholders.”
Russell indexes are widely used by investment
managers and institutional investors for index funds and as
benchmarks for active investment strategies. According to the data
as of the end of December 2023, about $10.5 trillion in assets are
benchmarked against the Russell US indexes, which belong to FTSE
Russell, a prominent global index provider.
For more information on the Russell indexes
reconstitution, go to the “Russell Reconstitution” section on the
FTSE Russell website.
About Korro:
Korro is a biopharmaceutical company focused on
developing a new class of genetic medicines for both rare and
highly prevalent diseases using its proprietary RNA editing
platform. Korro is generating a portfolio of differentiated
programs that are designed to harness the body’s natural RNA
editing process to effect a precise yet transient single base edit.
By editing RNA instead of DNA, Korro is expanding the reach of
genetic medicines by delivering additional precision and
tunability, which has the potential for increased specificity and
improved long-term tolerability. Using an oligonucleotide-based
approach, Korro expects to bring its medicines to patients by
leveraging its proprietary platform with precedented delivery
modalities, manufacturing know-how, and established regulatory
pathways of approved oligonucleotide drugs. Korro is based in
Cambridge, Massachusetts. For more information, visit
korrobio.com.
About FTSE Russell:
FTSE Russell is a leading global provider of
benchmarking, analytics, and data solutions for investors, giving
them a precise view of the market relevant to their investment
process. A comprehensive range of reliable and accurate indexes
provides investors worldwide with the tools they require to measure
and benchmark markets across asset classes, styles, or
strategies.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
For over 30 years, leading asset owners, asset managers, ETF
providers and investment banks have chosen FTSE Russell indexes to
benchmark their investment performance and create ETFs, structured
products, and index-based derivatives.
FTSE Russell is focused on applying the highest
industry standards in index design and governance, employing
transparent rules-based methodology informed by independent
committees of leading market participants. FTSE Russell fully
embraces the IOSCO Principles, and its Statement of Compliance has
received independent assurance. Index innovation is driven by
client needs and customer partnerships, allowing FTSE Russell to
continually enhance the breadth, depth and reach of its
offering.
FTSE Russell is wholly owned by London Stock
Exchange Group.
For more information, visit
https://www.lseg.com/en/ftse-russell.
Forward-Looking Statements
Certain statements in this press release may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements include, but are not limited to, express
or implied statements regarding expectations, hopes, beliefs,
intentions or strategies of Korro regarding the future including,
without limitation, express or implied statements regarding: the
potential benefits conferred by Korro’s inclusion in the Russell
3000® Index and the Russell Microcap® Index, as well as statements
regarding Korro’s business, such as the timing of regulatory
submissions, interim data readouts, the benefits of KRRO-110,
Korro’s ability to expand the reach of genetic medicines, among
others. In addition, any statements that refer to projections,
forecasts, or other characterizations of future events or
circumstances, including any underlying assumptions, are
forward-looking statements. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,”
“might,” “plan,” “possible,” “potential,” “predict,” “project,”
“should,” “strive,” “would,” “aim,” “target,” “commit,” and similar
expressions may identify forward-looking statements, but the
absence of these words does not mean that statement is not forward
looking. Forward-looking statements are based on current
expectations and assumptions that, while considered reasonable are
inherently uncertain. New risks and uncertainties may emerge from
time to time, and it is not possible to predict all risks and
uncertainties. Factors that may cause actual results to differ
materially from current expectations include, but are not limited
to, various factors beyond management’s control including risks
inherent in biopharmaceutical development; risks associated with
pre-clinical studies and clinical trials; and other risks
associated with obtaining regulatory approvals and protecting
intellectual property; as well as risks associated with general
economic conditions; and other risks and uncertainties indicated
from time to time in Korro’s filings with the SEC, including Part
II Item 1A. “Risk Factors” in Korro’s Quarterly Report on Form 10-Q
filed with the SEC on May 14, 2024, as such may be amended or
supplemented by its other filings with the SEC. Nothing in this
press release should be regarded as a representation by any person
that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements in this press release,
which speak only as of the date they are made and are qualified in
their entirety by reference to the cautionary statements herein.
Except as required by law, Korro does not undertake or accept any
duty to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or in the events, conditions or circumstances on which
any such statement is based. This press release does not purport to
summarize all of the conditions, risks and other attributes of an
investment in Korro.
Korro Contact Information
InvestorsIR@korrobio.com
MediaGlenn Silver FINN
Partners Glenn.silver@finnpartners.com
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