Ribonucleic acid (RNA)-based gene therapy corporations Rznomics will be added to the Morgan Stanley Capital International (MSCI) Korea Small Cap Index. This is an opportunity that could increase inflows of global ETF and index funds and improve access for overseas investors.
Rznomics said the addition to the MSCI Korea Small Cap Index will take effect after the market closes on the 29th. The inclusion follows MSCI's May regular review.
The MSCI indexes are benchmark stock indexes widely referenced by global institutional investors. Because U.S. pension funds and global passive funds use them as benchmarks, stocks added to the indexes are expected to see tracking fund inflows. MSCI adjusts index constituents through regular reviews every February, May, August and November.
Rznomics met the criteria for inclusion in the small-cap index by satisfying the market capitalization and liquidity requirements it has maintained since its KOSDAQ listing. The company said it expects inflows from global passive funds, transaction activation, and a broader investor base.
Rznomics is developing next-generation gene therapies based on its proprietary ribozyme-based platform, a technology that precisely edits RNA, the material that carries genetic information in the body.
Its lead anticancer gene therapy candidate, "Taspitimagen advec (RZ-001)," recently received Regenerative Medicine Advanced Therapy (RMAT) designation from the U.S. Food and Drug Administration (FDA).
The company is also accelerating its push into global markets by presenting related clinical and nonclinical research data at the American Association for Cancer Research (AACR) and the American Society of Gene and Cell Therapy (ASGCT).
Chief Executive Lee Seong-uk of Rznomics said, "With this MSCI inclusion, we expect investor access in global capital markets to improve," adding, "We will accelerate ongoing clinical trials and business development (BD) to enhance corporate value and shareholder value."