"We're pleased to be included in the Russell 2000® Index, as it provides a great opportunity to share our story with a broader audience of investors," said Timothy Noyes, chief executive officer of Aerovate. "We've built a strong team with deep cardiopulmonary disease experience, and raised capital needed to advance AV-101, our dry powder inhaled formulation of the drug imatinib for the treatment of pulmonary arterial hypertension, or PAH. We expect to initiate enrollment this year in the Phase 2b portion of our Phase 2b/3 trial of AV-101 in PAH." The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market. The index is a subset of the Russell 3000® 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.