Firefly Neuroscience to be Added to the Russell Microcap® Index

Rhea-AI Summary

Firefly Neuroscience (NASDAQ: AIFF), an AI company focused on brain health solutions, announced its upcoming addition to the Russell Microcap® Index effective June 30, 2025. This milestone comes less than a year after the company's Nasdaq listing via reverse merger. CEO Greg Lipschitz highlighted key 2025 achievements including: discovery of a cognitive brain age biomarker using their FDA-cleared BNA Platform, acceptance into NVIDIA Connect program, expansion through Evoke Neuroscience acquisition, and development of a method to distinguish between different stages of Alzheimer's. The Russell indexes, which serve as benchmarks for approximately $10.6 trillion in assets, are widely used by investment managers and institutional investors. Membership in the Russell Microcap® Index lasts one year and includes automatic inclusion in corresponding growth and value style indexes.

Positive

• Inclusion in Russell Microcap® Index expected to increase visibility among institutional and retail investors
• Company achieved FDA clearance for their BNA Platform
• Acceptance into prestigious NVIDIA Connect program indicates technological validation
• Strategic expansion through Evoke Neuroscience acquisition strengthens IP portfolio and commercial footprint
• Development of new method to distinguish Alzheimer's stages demonstrates technological progress

Negative

• Company entered market through reverse merger rather than traditional IPO
• Microcap status indicates relatively small market capitalization

Insights

Capital Markets Analyst

Firefly's addition to Russell Microcap Index enhances visibility and liquidity potential following significant corporate milestones.

Firefly Neuroscience's inclusion in the Russell Microcap® Index represents a significant visibility enhancement for this emerging AI healthcare company. This milestone comes less than a year after their Nasdaq listing via reverse merger, potentially broadening their investor base considerably.

The Russell indexes serve as benchmarks for approximately $10.6 trillion in assets, providing Firefly automatic exposure to both passive index funds and active managers who use these indexes as performance benchmarks. For microcap companies, such inclusion typically translates to improved liquidity and potentially decreased volatility.

This indexing achievement follows several material developments in 2025, including: the discovery of a cognitive brain age biomarker using their FDA-cleared BNA™ Platform; acceptance into NVIDIA Connect; expansion of their database and IP portfolio through the Evoke Neuroscience acquisition; and development of objective diagnostic capabilities for Alzheimer's progression stages.

The Russell reconstitution methodology, which objectively ranks companies by market capitalization as of April 30, provides validation of Firefly's growth trajectory. Their inclusion grants the company immediate passive investment inflows when the changes take effect on June 30, while membership remains in place for one year.

Particularly significant for companies in complex technological spaces like AI-powered neuroscience diagnostics, index inclusion provides institutional credibility that can help bridge the knowledge gap for generalist investors evaluating specialized business models.

– Comes less than a year after listing on Nasdaq –

KENMORE, N.Y., June 23, 2025 (GLOBE NEWSWIRE) -- Firefly Neuroscience, Inc. (“Firefly” or the “Company”) (NASDAQ: AIFF), an Artificial Intelligence (“AI”) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced that it will be added to the Russell Microcap^® Index as part of this year’s reconstitution. The additions will be made effective after the U.S. market opens on June 30, 2025.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Russell's U.S. indexes serve as the benchmark for approximately $10.6 trillion in assets as of the close of June 2024. Russell indexes are part of FTSE Russell, the global index provider.

“Being included among the companies that comprise the Russell indexes is a major milestone for Firefly, which we believe reflects the significant progress we have made since completing our reverse merger and listing on Nasdaq less than a year ago,” said Greg Lipschitz, CEO of Firefly. “So far in 2025 alone, we have: discovered a breakthrough cognitive brain age biomarker using our FDA-cleared BNA™ Platform; been accepted into the prestigious NVIDIA Connect program; achieved multi-fold database, IP portfolio, and commercial footprint expansion through our acquisition of Evoke Neuroscience; and, uncovered a powerful new way of objectively distinguishing between subjective cognitive decline, mild cognitive impairment, and dementia in Alzheimer’s patients.”

Mr. Lipschitz added, “Moving forward, our membership in the Russell Microcap^® Index should increase our visibility among both institutional and retail investors at a pivotal time as we continue to execute our growth plans and work to achieve the many potential value-creating milestones we see ahead.”

Each index within the Russell U.S. Indexes is reconstituted each year to capture the 4,000 largest U.S. stocks as of April 30, ranking them by total market capitalization and grouping them according to certain criteria. Membership in the Russell Microcap^® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

About Firefly
Firefly (NASDAQ: AIFF) is an Artificial Intelligence (“AI”) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. Firefly’s FDA-510(k) cleared Brain Network Analytics (BNA™) technology revolutionizes diagnostic and treatment monitoring methods for conditions such as depression, dementia, anxiety disorders, concussions, and ADHD. Over the past 15 years, Firefly has built a comprehensive database of brain wave tests, securing patent protection, and achieving FDA clearance. The Company is now launching BNA™ commercially, targeting pharmaceutical companies engaged in drug research and clinical trials, as well as medical practitioners for clinical use.

Brain Network Analytics was developed using artificial intelligence and machine learning on Firefly’s extensive proprietary database of standardized, high-definition longitudinal electroencephalograms (EEGs) of over 17,000 patients representing twelve disorders, as well as clinically normal patients. BNA™, in conjunction with an FDA-cleared EEG/ERP system, can provide clinicians with comprehensive insights into brain function. These insights can enhance a clinician’s ability to accurately diagnose mental and cognitive disorders and to evaluate what therapy and/or drug is best suited to optimize a patient’s outcome.

Please visit https://fireflyneuro.com/ for more information.

Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws concerning Firefly. These forward-looking statements include express or implied statements relating to Firefly’s management teams’ expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Firefly will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Firefly’s control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to those factors described under the heading “Risk Factors” in the reports and other filings of Firefly with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of Firefly’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. It is not possible to predict or identify all such risks. Forward-looking statements included in this press release only speak as of the date they are made, and Firefly does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Investor & Media Contact
Stephen Kilmer
(646) 274-3580
stephen.kilmer@fireflyneuro.com   

FAQ

When will Firefly Neuroscience (AIFF) be added to the Russell Microcap Index?

Firefly Neuroscience will be added to the Russell Microcap Index effective June 30, 2025, after the U.S. market opens.

What are the major achievements of Firefly Neuroscience (AIFF) in 2025?

In 2025, Firefly discovered a cognitive brain age biomarker, joined NVIDIA Connect program, expanded through Evoke Neuroscience acquisition, and developed a method to distinguish between stages of Alzheimer's disease.

What is the significance of Firefly Neuroscience (AIFF) joining the Russell Microcap Index?

Joining the Russell Microcap Index increases visibility among institutional and retail investors, as Russell indexes serve as benchmarks for approximately $10.6 trillion in assets.

How long will Firefly Neuroscience (AIFF) remain in the Russell Microcap Index?

Membership in the Russell Microcap Index remains in place for one year, with automatic inclusion in appropriate growth and value style indexes.

What is Firefly Neuroscience's (AIFF) main business focus?

Firefly Neuroscience is an AI company developing innovative solutions to improve brain health outcomes for patients with neurological and mental disorders.