BOSTON, June 25, 2018 (GLOBE NEWSWIRE) -- Albireo Pharma, Inc. (Nasdaq:ALBO), a clinical-stage orphan pediatric liver disease company developing novel bile acid modulators, today announced that it has been added to the Russell 2000® Index as part of the annual reconstitution of the Russell stock indexes, effective upon U.S. market close on June 22, 2018.
The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity market and is a subset of the Russell 3000, representing approximately 10 percent of the total market capitalization of that index. Russell indexes are widely used by investment managers and institutional investors for index funds, and as benchmarks for active investment strategies.
“We are pleased to have been selected for inclusion in the Russell 2000 Index,” said Ron Cooper, President and Chief Executive Officer of Albireo. “This reflects the positive progress and shareholder value we’ve created, including the enrollment of the first patient in our Phase 3 clinical trial of lead product candidate A4250 in progressive familial intrahepatic cholestasis (PFIC).”
Membership in Russell U.S. indexes is determined primarily by objective, market-capitalization rankings and style attributes. Approximately $8.6 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information, visit www.ftserussell.com.
Albireo Pharma is a clinical-stage biopharmaceutical company focused through its operating subsidiary on the development of novel bile acid modulators to treat orphan pediatric liver diseases, and other liver and gastrointestinal diseases and disorders. Albireo’s lead product candidate, A4250, is being developed to treat rare pediatric cholestatic liver diseases and is in Phase 3 development in its initial target indication, progressive familial intrahepatic cholestasis. Albireo’s clinical pipeline also includes two Phase 2 product candidates. Albireo’s elobixibat, approved in Japan for the treatment of chronic constipation, is the first ileal bile acid transporter (IBAT) inhibitor approved anywhere in the world. Albireo was spun out from AstraZeneca in 2008.
Albireo Pharma is located in Boston, Massachusetts, and its key operating subsidiary is located in Gothenburg, Sweden. For more information on Albireo, please visit www.albireopharma.com.
Investor Contact: Hans Vitzthum, LifeSci Advisors, LLC, 212-915-2568
Media Contact: Heather Anderson, 6 Degrees, 980-938-0260, firstname.lastname@example.org
Source: Albireo Pharma, Inc.