Last Updated on March 17, 2022 by GlobeNewsWire
BOSTON, March 17, 2022 (GLOBE NEWSWIRE) — CinCor Pharma, Inc. (NASDAQ: CINC), a clinical-stage biopharmaceutical company focused on developing its lead clinical candidate, CIN-107, for the treatment of hypertension and other cardio-renal diseases, today announced that the Company will be added to the Russell 2000(R) and Russell 3000(R) Indexes, effective on Friday, March 18, 2022, as part of the quarterly initial public offering (IPO) additions.
“The inclusion of CinCor Pharma in the Russell 2000(R) and Russell 3000(R) Indexes builds on the momentum we have experienced following the close of our successful IPO in January,” said Marc de Garidel, Chief Executive Officer of CinCor. “Being a part of these indexes will enhance our visibility with the investment community as we continue working towards our clinical milestones and advancing our focused pipeline addressing unmet needs in hypertension and cardio-renal diseases.”
The Russell 2000(R) Index measures the performance of the small-cap segment of the U.S. equity market. The index is a subset of the Russell 3000(R) Index and represents 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. Approximately $10.7 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a global index leader that provides innovative benchmarking, analytics, and data solutions for investors worldwide.
For more information on the Russell Indexes, please visit the FTSE Russell website.
CinCor, founded in 2018, is a clinical-stage biopharmaceutical company with a mission to bring innovation to the pharmaceutical treatment of cardio-renal diseases. Its lead asset, CIN-107, a highly selective, oral small molecule inhibitor of aldosterone synthase, is in clinical development for the treatment of hypertension and primary aldosteronism. CinCor has raised over $350 million to date in private financings and following the recent close of a successful initial public offering.
CIN-107 is a highly selective, oral small molecule inhibitor of aldosterone synthase, the enzyme responsible for the synthesis of aldosterone in the adrenal gland, in development for patient populations with significant unmet medical needs, including treatment-resistant hypertension and primary aldosteronism. Hypertension, which is defined by the American College of Cardiology and the American Heart Association as resting blood pressure above 130/80 mm Hg, is generally acknowledged to be one of the most common preventable risk factors for premature death worldwide. Though often asymptomatic, hypertension significantly increases the risk of heart disease, stroke and kidney disease, amongst other diseases. It is estimated that as much as 20% of the global population suffers from hypertension, including nearly one-half of the adult population in the U.S., or 116 million hypertensive patients.
This press release contains certain forward-looking statements, including, but not limited to, statements related CinCor’s clinical milestones, pipeline and visibility within the investment community and other statements that are not historical facts. Words such as “anticipates,” “believes,” “expected,” “intends,” “plan,” “will,” “continue,” “advance” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on CinCor’s current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, those related to expectations with respect to regulatory matters, the initiation and progress of research and development programs and clinical trials, including enrollment and retention in clinical trials, availability of data from these programs, reliance on clinical trial sites, contract development and manufacturing organizations and other third parties, developments from the company’s competitors and the marketplace for the company’s products, human capital matters, the company’s need for additional financing and sufficiency of resources, negotiation and consummation of potential strategic transactions, the COVID-19 pandemic and geopolitical events and matters related thereto, and other risks and uncertainties affecting the company, including those described from time to time under the caption “Risk Factors” and elsewhere in CinCor’s filings and reports with the Securities and Exchange Commission. Other risks and uncertainties of which CinCor is not currently aware may also affect the company’s forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. CinCor undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
CinCor Pharma, Inc.
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