Pear Therapeutics to be Added to Russell US Index Series

Rhea-AI Summary

Pear Therapeutics (NASDAQ: PEAR) has been added to the Russell US Index Series as of September 19, 2022. This inclusion is significant as Russell indexes are benchmarks for $12 trillion in assets managed by investment firms. Pear Therapeutics specializes in prescription digital therapeutics (PDTs) and aims to enhance patient outcomes through innovative software-based medicines. Their product lineup includes the first FDA-authorized PDTs for substance use disorder and chronic insomnia.

Positive

• Inclusion in the Russell US Index Series enhances visibility and credibility among investors.
• Russell indexes benchmark approximately $12 trillion in assets, potentially attracting more institutional investment.

Negative

• None.

BOSTON--(BUSINESS WIRE)-- Pear Therapeutics, Inc. (Nasdaq: PEAR), the leader in developing and commercializing software-based medicines called prescription digital therapeutics (PDTs), announced today that it will be added to the Russell US Index Series in conjunction with the September 2022 quarterly review, effective after the US market open on Monday, September 19, 2022.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell US Index Series, go to the FTSE Russell website.

About Pear Therapeutics
Pear Therapeutics, Inc., which is traded on Nasdaq as PEAR, is the parent company of Pear Therapeutics (US), Inc. Pear is the leader in developing and commercializing software-based medicines, called prescription digital therapeutics (PDTs). Pear aims to redefine care through the widespread use of clinically validated software-based therapeutics to provide better outcomes for patients, smarter engagement and tracking tools for clinicians, and cost-effective solutions for payers. Pear has the first end-to-end platform to discover, develop, and deliver PDTs to patients and a pipeline of products and product candidates across therapeutic areas, including the first three PDTs with disease treatment claims from the FDA. Pear’s product, reSET^®, for the treatment of substance use disorder, was the first PDT to receive marketing authorization from the FDA to treat disease. Pear’s second product, reSET-O^®, for the treatment of opioid use disorder, was the first PDT to receive Breakthrough Designation. Pear’s third product, Somryst^® for the treatment of chronic insomnia, was the first PDT submitted through FDA’s traditional 510(k) pathway while simultaneously reviewed through FDA’s Software Precertification Pilot Program. For more information, visit Pear at www.peartherapeutics.com.

About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $20 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220802006154/en/

Media and Investors:

Meara Murphy

Senior Director, Corporate Communications

meara.murphy@peartherapeutics.com

Source: Pear Therapeutics, Inc.

FAQ

When was Pear Therapeutics added to the Russell US Index Series?

Pear Therapeutics was added to the Russell US Index Series effective September 19, 2022.

What is the significance of being included in the Russell US Index?

Inclusion in the Russell US Index enhances visibility and may attract institutional investors managing trillions in assets.

What does Pear Therapeutics specialize in?

Pear Therapeutics specializes in developing prescription digital therapeutics (PDTs) to improve patient outcomes.

How much in assets are benchmarked against Russell indexes?

Approximately $12 trillion in assets are benchmarked against Russell's US indexes.