PAVmed to Join the Russell 2000® and Russell 3000® Indexes
17 June 2020 - 11:30PM
PAVmed Inc. (Nasdaq: PAVM, PAVMZ) (the “Company” or “PAVmed”), a
highly differentiated, multiproduct medical device company, today
announced the Company is set to join the small-cap Russell 2000®
Index and the broad-market Russell 3000® Index as part of the
indexes' annual reconstitution, effective after the U.S. market
open on June 29, 2020, according to a preliminary list of additions
posted by FTSE Russell on June 12, 2020.
The Russell US Indexes serve as leading
benchmarks for institutional investors and as the basis for
index-linked products. Russell indexes are widely used by
investment managers and institutional investors for index funds and
as benchmarks for active investment strategies. Approximately $9
trillion in assets are benchmarked against Russell’s U.S. indexes.
Russell indexes are part of FTSE Russell, a leading global index
provider.
The broad-market Russell 3000 Index includes the
largest 3,000 U.S. companies. The Russell 2000 Index is a subset of
the broader Russell 3000 Index and measures the performance of the
small-cap segment of the U.S. equity universe. The indexes are
reconstituted annually by re-ranking companies based on total
market capitalization.
“PAVmed’s inclusion in the small-cap Russell
2000 and broad-market Russell 3000 indexes represents an important
milestone and is testament to our growth and maturity as a company
and our success at increasing shareholder value over the past
year,” said Lishan Aklog, M.D., PAVmed’s Chairman and Chief
Executive Officer. “We are confident that joining these indexes
will enhance our visibility within the broader investment
community, as we continue to execute on our business strategy by
advancing our portfolio of groundbreaking products and accelerating
commercialization of our EsoGuard™, EsoCheck™ and CarpX™
products.”
For more information on the Russell 3000 Index
and the Russell indexes reconstitution, go to the “Russell
Reconstitution” section on the FTSE Russell website.
About PAVmed
PAVmed Inc. is a highly differentiated,
multiproduct commercial stage medical device company employing a
unique business model designed to advance innovative products to
commercialization rapidly and with less capital than the typical
medical device company. This proprietary model enables PAVmed to
pursue an expanding pipeline strategy with a view to enhancing and
accelerating value creation while seeking to further expand its
pipeline through relationships with its network of clinician
innovators at leading academic centers. PAVmed’s diversified
product pipeline addresses unmet clinical needs encompassing a
broad spectrum of clinical areas with attractive regulatory
pathways and market opportunities. Its four operating divisions
include GI Health (EsoGuard™ Esophageal DNA Test, EsoCheck™
Esophageal Cell Collection Device, and EsoCure™ Esophageal Ablation
Device with Caldus™ Technology), Minimally Invasive Interventions
(CarpX™ Minimally Invasive Device for Carpal Tunnel Syndrome),
Infusion Therapy (PortIO™ Implantable Intraosseus Vascular Access
Device and NextFlo™ Highly Accurate Infusion Platform Technology),
and Emerging Innovations (non-invasive laser-based glucose
monitoring, pediatric ear tubes, and mechanical circulatory
support). For more information, please visit www.pavmed.com,
follow us on Twitter, connect with us on LinkedIn, and watch our
videos on YouTube. For more information on our majority owned
subsidiary, Lucid Diagnostics Inc., please visit www.luciddx.com,
follow Lucid on Twitter, and connect with Lucid on LinkedIn.
About FTSE Russell
FTSE Russell is a leading global index provider
creating and managing a wide range of indexes, data and analytic
solutions to meet client needs across asset classes, style and
strategies. Covering 98% of the investable market, FTSE Russell
indexes offer a true picture of global markets, combined with the
specialist knowledge gained from developing local benchmarks around
the world.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
Approximately $16 trillion is currently benchmarked to FTSE Russell
indexes. 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 investment
funds, ETFs, structured products and index-based derivatives. FTSE
Russell indexes also provide clients with tools for asset
allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE
Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on index innovation and
customer partnership applying the highest industry standards and
embracing the IOSCO Principles. FTSE Russell is wholly owned by
London Stock Exchange Group.
For more information, visit
www.ftserussell.com
Forward-Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements, based upon the current beliefs and
expectations of PAVmed’s management, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. Risks and uncertainties that may cause
such differences include, among other things, volatility in the
price of PAVmed’s common stock, Series W Warrants and Series Z
Warrants; general economic and market conditions; the uncertainties
inherent in research and development, including the cost and time
required advance PAVmed’s products to regulatory submission;
whether regulatory authorities will be satisfied with the design of
and results from PAVmed’s preclinical studies; whether and when
PAVmed’s products are cleared by regulatory authorities; market
acceptance of PAVmed’s products once cleared and commercialized;
our ability to raise additional funding and other competitive
developments. PAVmed has not yet received clearance from the FDA or
other regulatory body to market many of its products. The Company
has been monitoring the COVID-19 pandemic and its impact on our
business. The Company expects the significance of the COVID-19
pandemic, including the extent of its effect on the Company’s
financial and operational results, to be dictated by, among other
things, the success of efforts to contain it and the impact of
actions taken in response. New risks and uncertainties may arise
from time to time and are difficult to predict. All of these
factors are difficult or impossible to predict accurately and many
of them are beyond PAVmed’s control. For a further list and
description of these and other important risks and uncertainties
that may affect PAVmed’s future operations, see Part I, Item IA,
“Risk Factors,” in PAVmed’s most recent Annual Report on Form 10-K
filed with the Securities and Exchange Commission, as the same may
be updated in Part II, Item 1A, “Risk Factors” in any Quarterly
Reports on Form 10-Q filed by PAVmed after its most recent Annual
Report. PAVmed disclaims any intention or obligation to publicly
update or revise any forward-looking statement to reflect any
change in its expectations or in events, conditions, or
circumstances on which those expectations may be based, or that may
affect the likelihood that actual results will differ from those
contained in the forward-looking statements.
Contacts:
InvestorsMike HavrillaDirector of Investor
Relations(814) 241-4138JMH@PAVmed.com
MediaShaun O’NeilChief Commercial Officer(518)
812-3087SMO@PAVmed.com
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