NEW YORK, July 01, 2024--(BUSINESS WIRE)--Neurogene Inc. (Nasdaq: NGNE), a clinical-stage company founded to bring life-changing genetic medicines to patients and families affected by rare neurological diseases, today announced that Neurogene will be added to the Russell 3000® Index, effective at the open of U.S. equity markets today, Monday, July 1, 2024.
The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of Tuesday, April 30, 2024, ranking them by total market capitalization. Neurogene’s membership in the U.S. all-cap Russell 3000® Index will remain in place for one year. Neurogene has also been added to the Russell 2000® Index and the Russell Microcap® Index.
"We are proud of all that we have accomplished, including in the first six months as a publicly traded company, that has enabled Neurogene’s addition to these industry benchmarking indexes for the investment community," said Rachel McMinn, Ph.D., Founder and Chief Executive Officer of Neurogene. "We are focused on execution in our clinical programs, and we remain on track to share interim clinical efficacy data from the low-dose cohort of our NGN-401 gene therapy trial for Rett syndrome in the fourth quarter of this year. This next milestone follows important recent progress in the NGN-401 program, including selection for the FDA’s START Pilot Program to accelerate clinical development and a favorable safety update at the recent IRSF ASCEND Scientific Meeting."
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 U.S. indexes, which belong to FTSE Russell, a prominent global index provider.
About Neurogene
The mission of Neurogene is to treat devastating neurological diseases to improve the lives of patients and families impacted by these rare diseases. Neurogene is developing novel approaches and treatments to address the limitations of conventional gene therapy in central nervous system disorders. This includes selecting a delivery approach to maximize distribution to target tissues and designing products to maximize potency and purity for an optimized efficacy and safety profile. The Company’s novel and proprietary EXACT transgene regulation platform technology allows for the delivery of therapeutic levels while limiting transgene toxicity associated with conventional gene therapy. Neurogene has constructed a state-of-the-art gene therapy manufacturing facility in Houston, Texas. CGMP production of NGN-401 was conducted in this facility and is expected to support pivotal clinical development activities. For more information, visit www.neurogene.com.
Statements in this press release that are not historical in nature are intended to be, and hereby are identified as, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current expectations and beliefs of the management of Neurogene, as well as assumptions made by, and information currently available to, management of Neurogene, including, but not limited to, statements regarding: benefits of being added to the Russell indexes, the therapeutic potential and utility, efficacy and clinical benefits of NGN-401; the safety and tolerability profile of NGN-401; trial designs, clinical development plans and timing of the presentation of clinical trial data for NGN-401, and the anticipated benefits of participation in the FDA’s START program. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "anticipate," "plan," "likely," "believe," "estimate," "project," "intend," "on track," and other similar expressions or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are based on current beliefs and assumptions that are subject to risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood, and degree of occurrence, which could cause actual results to differ materially from anticipated results and many of which are outside of Neurogene’s control. Such risks, uncertainties and assumptions include, among other things: risks related to the potential for negative impacts to patients dosed in the ongoing Phase 1/2 clinical trial for NGN-401, including patients in Cohort 2 receiving a high dose of NGN-401; the risk that the Company may not be able to report its data on the predicted timeline; risks related to Neurogene’s ability to effectively use the START program to accelerate development of NGN-401 or its ability to obtain regulatory approval for, and ultimately commercialize, NGN-401 at all; and other risks and uncertainties identified under the heading "Risk Factors" included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission ("SEC") on March 18, 2024, or its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, filed with the SEC on May 10, 2024, and other filings that the Company has made and may make with the SEC in the future. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that the contemplated results of any such forward-looking statements will be achieved. Forward-looking statements in this communication speak only as of the day they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by applicable law, Neurogene undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
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