CohBar (NASDAQ:CWBR) was added to the small-cap Russell 2000 index during its latest reconstitution. The company also sold common stock through its existing at-the-market (ATM) offering, with net proceeds of about $4.4-million.
“We believe our addition [to the Russell 2000] will heighten the investment community’s awareness of CohBar’s growing pipeline of novel mitochondria-based therapeutics,” Steven Engle, CEO of CohBar, said in a statement.
“We also used this as an opportunity to raise additional funds to support our programs by selling shares through our ATM to institutions adding CohBar to their portfolios during the reconstitution,” he added.
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.