In This Article:
AUSTIN, Texas, July 1, 2024 /PRNewswire/ -- Aileron Therapeutics, Inc. ("Aileron" or the "Company") (NASDAQ: ALRN), a biopharmaceutical company advancing a novel pipeline of first-in-class medicines to address significant unmet medical needs in orphan pulmonary and fibrosis indications, today announced that the Company is set to join the Russell Microcap® Index at the conclusion of the 2024 Russell U.S. Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1, 2024.
The annual Russell U.S. Indexes reconstitution captures the 4,000 largest U.S. stocks as of Tuesday, April 30th, ranking them by total market capitalization. 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.
"Aileron's inclusion in the Russell Microcap Index is an exciting step in the Company's evolution, and representative of the clinical progress made for our lead asset, LTI-03, in patients with idiopathic pulmonary fibrosis," said Brian Windsor, Ph.D., President and Chief Executive Officer of Aileron. "This increased exposure highlights our positive data reported from Cohort 1 of the Phase 1b trial which included biomarker movement which achieved statistical significance in three out of eight markers that reinforce the potential of LTI-03 to improve lung function and reverse the course of the disease."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell's U.S. indexes serve as the benchmark for about $10.5 trillion in assets as of the close of December 2023. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
About Aileron Therapeutics
Aileron Therapeutics, Inc. is a biopharmaceutical company advancing a novel pipeline of first-in-class medicines to address significant unmet medical needs in orphan pulmonary and fibrosis indications. Aileron's lead product candidate, LTI-03, is a novel, synthetic peptide with a dual mechanism targeting alveolar epithelial cell survival as well as inhibition of profibrotic signaling. Currently, LTI-03 is being evaluated in a Phase 1b clinical trial for the treatment of idiopathic pulmonary fibrosis. Aileron's second product candidate, LTI-01, is a proenzyme that has completed Phase 1b and Phase 2a clinical trials for the treatment of loculated pleural effusions. LTI-01 has received Orphan Drug Designation in the US and EU and Fast Track Designation in the US.