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MediciNova added to Russell 3000 Index and Russell Global Index

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MediciNova, a biopharmaceutical company traded on the Nasdaq Global Market and the Jasdaq Market of the Tokyo Stock Exchange, has been added to the Russell 3000 Index and the Russell Global Index as a result of the annual Russell index reconstitution.  

MediciNova joined the indexes after the US stock market closed on 24 June, 2016. The Russell 3000® Index measures the performance of the stocks of the 3,000 largest US companies.  Russell indexes are widely used by investment managers and institutional investors for index funds, exchange-traded funds (ETFs), and as benchmarks for active investment strategies. Approximately USD5.7 trillion in assets are benchmarked to the Russell indexes, and more institutional funds track them than all other U.S. equity indexes combined.  

Yuichi Iwaki, MD, PhD, President and Chief Executive Officer of MediciNova, says: “We are excited that MediciNova has been added to the Russell indexes. We consider this milestone to be a substantial accomplishment as it validates our tireless work to create value for the company.  We believe our inclusion in the indexes will raise our profile in the investment community and add additional value for our shareholders.  We remain focused on our mission to develop promising new therapies for diseases with high unmet medical needs and we continue to manage our expenses efficiently.”  

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