Skye Bioscience (SKYE) to Join Russell 2000 and Russell 3000

Skye Bioscience, Inc. (Nasdaq: SKYE) today announced the Company has been included in the Russell 2000® Index and the broad-market Russell 3000® Index, effective at the U.S. market open on July 1, 2024, as part of the annual reconstitution of the Russell stock indexes.

“We are pleased to be included in the Russell indexes, a widely recognized benchmark for small-cap stocks, which is a testament to Skye’s recent accomplishments,” said Kaitlyn Arsenault, the CFO of Skye. “We believe inclusion in these indexes will expand our visibility to the investment community as we continue to build momentum with our differentiated obesity program and prepare for the expected launch of our Phase 2 clinical trial of Nimacimab in Q3 2024.”

The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30th, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

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 US indexes, which belong to FTSE Russell, a prominent global index provider.

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