CBLI Sees Increased VisibilityThe Shares Rebounded Today, with Solid Volume; as Company Reports Investment Visibility
CBLI reported that it will join the Russell Microcap(TM) Index when Russell Investment Group reconstitutes its family of U.S. indexes on June 22, according to a preliminary list of additions posted Friday on www.russell.com.
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Dr. Michael Fonstein, Chief Executive Officer and President of Cleveland BioLabs, stated, "Our addition to the Index is reflective of the Company's significant growth and development since our IPO last year. We look forward to increased visibility resulting from our inclusion."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them.