Candel Therapeutics (CADL) to Join Russell 3000 Index

Candel Therapeutics, Inc. (Nasdaq: CADL) today announced that the Company is set to join the broad-market Russell 3000 Index at the conclusion of the 2024 Russell US Indexes annual reconstitution, effective at the open of US equity markets on Monday, July 1, 2024, according to a preliminary list of additions posted Friday, May 24, 2024.

The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30^th, 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, a prominent global index provider, determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

“Being included in the Russell 3000 Index highlights the progress our team has made in advancing our clinical programs and discovery efforts focused on harnessing the immune system to fight cancer,” said Paul Peter Tak, MD, PhD, FMedSci, President and Chief Executive Officer of Candel. “As we continue generating data showcasing the potential benefits of our multimodal immunotherapies, increased visibility among investors could raise awareness of our innovative work. This inclusion will allow us to further engage with the investment community as we execute on our mission to develop novel immunotherapies for patients with significant unmet medical needs.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. 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.¹

¹ FTSE Russell, https://www.lseg.com/en/ftse-russell/russell-reconstitution

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