TearLab (NASDAQ:TEAR; TSX:TLB) is set to join the Russell Microcap Index when Russell Investments updates its comprehensive set of U.S. and global equity indexes after the close of trading this Friday, according to a preliminary list of additions posted recently on the Russell website.
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes, and they are reconstituted annually. The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for passive and active investment strategies.
Various peer-reviewed journals have described TearLab’s point-of-care osmolarity test as the technology of choice to aid in the diagnosis of dry eye disease.
Disclosure: No positions