Protalix Biotherapeutics Inc (NYSE-A:PLX) has been added to the Russell 3000 and Russell 2000 Indexes as part of FTSE Russell’s annual reconstitution.
The inclusion provides the Israel-based biopharmaceutical company with broader exposure to institutional investors and index funds that benchmark against the widely tracked indexes.
"We are very pleased to be included in the Russell 3000 and Russell 2000 Indexes," said Dror Bashan, Protalix's CEO. "We welcome the enhanced visibility provided by our inclusion in these indexes as we continue progressing on our strategic path."
The Russell US indexes reconstitution captures the 4,000 largest US stocks based on total market capitalization as of April 30, assigning companies to the large-cap Russell 1000 or small-cap Russell 2000 Indexes.
The indexes serve as benchmarks for roughly $10.6 trillion in assets, according to FTSE Russell.
Protalix develops and commercializes recombinant therapeutic proteins using its proprietary plant cell-based expression system, ProCellEx. Its product pipeline includes treatments for Gaucher disease, uncontrolled gout, and NETs-related diseases. The company has partnered with Pfizer and Chiesi Farmaceutici on global commercialization of its approved therapies.