Rosetta Genomics Regains Compliance With NASDAQ Minimum Bid Price Rule
22 July 2011 - 6:05AM
Marketwired
Rosetta Genomics (NASDAQ: ROSGD), a leading
developer and provider of microRNA-based molecular diagnostic
tests, announced that it has it received notice from The NASDAQ
Stock Market (Nasdaq) confirming that the Company has regained
compliance with the $1.00 per share minimum closing bid price
requirement for continued listing on The Nasdaq Capital Market
under Listing Rule 5550(a)(2). Pursuant to Nasdaq's rules, the
Company was required to achieve a closing bid price of at least
$1.00 per share for 10 consecutive trading days by August 8, 2011.
The Company's ordinary shares will continue to trade under the
symbol ROSGD through August 3, 2011, and the symbol will revert
back to ROSG on August 4, 2011.
About miRview® Products miRview® are a
series of microRNA-based diagnostic products offered by Rosetta
Genomics. miRview® mets and miRview® mets² accurately identify the
primary tumor site in metastatic cancer and CUP. miRview® squamous
accurately identifies the squamous subtype of non-small cell lung
cancer, which carries an increased risk of severe or fatal internal
bleeding and poor response to treatment for certain therapies.
miRview® meso diagnoses mesothelioma, a cancer connected to
asbestos exposure. miRview® lung accurately identifies the four
main subtypes of lung cancer using small amounts of tumor cells.
miRview® tests are designed to provide objective diagnostic data;
it is the treating physician's responsibility to diagnose and
administer the appropriate treatment. In the U.S. alone, Rosetta
Genomics estimates that approximately 200,000 patients a year may
benefit from the miRview® mets and miRview® mets² test, 60,000 from
miRview® squamous, 60,000 from miRview® meso and 222,000 from
miRview® lung. The Company's tests are offered directly by Rosetta
Genomics in the U.S., and through distributors around the globe.
For more information, please visit www.mirviewdx.com. Parties
interested in ordering the test can contact Rosetta Genomics at
(215) 382-9000 ext. 309.
About microRNAs microRNAs (miRNAs) are
recently discovered, small RNAs that act as master regulators of
protein synthesis, and have been shown to be highly effective
biomarkers. The unique advantage of microRNAs as biomarkers lies in
their high tissue specificity, and their exceptional stability in
the most routine preservation methods for biopsies, including
Formalin Fixed Paraffin Embedded (FFPE) block tissue and fine
needle aspirate (FNA) cell blocks. It has been suggested that their
small size (19 to 21 nucleotides) enables them to remain intact in
FFPE blocks, as opposed to messenger RNA (mRNA), which tends to
degrade rapidly. In addition, early preclinical data has shown that
by controlling the levels of specific microRNAs, cancer cell growth
may be reduced. To learn more about microRNAs, please visit
www.rosettagenomics.com.
About Rosetta Genomics Rosetta Genomics
develops and commercializes a full range of microRNA-based
molecular diagnostics. Founded in 2000, the company's integrative
research platform combining bioinformatics and state-of-the-art
laboratory processes has led to the discovery of hundreds of
biologically validated novel human microRNAs. Building on its
strong patent position and proprietary platform technologies,
Rosetta Genomics is working on the application of these
technologies in the development and commercialization of a full
range of microRNA-based diagnostic tools. The Company's miRview
product line is commercially available through its
Philadelphia-based CAP-accredited, CLIA-certified lab. To learn
more, please visit www.rosettagenomics.com.
Forward-Looking Statements Various
statements in this release concerning Rosetta's future
expectations, plans and prospects constitute forward-looking
statements for the purposes of the safe harbor provisions under The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by these forward-looking
statements as a result of various important factors, including
risks related to: Rosetta's approach to discover microRNA
technology and to work on the application of this technology in the
development of novel diagnostics and therapeutic tools, which may
never lead to commercially accepted products or services; Rosetta's
ability to obtain, maintain and protect its intellectual property;
Rosetta's ability to enforce its patents against infringers and to
defend its patent portfolio against challenges from third parties;
Rosetta's need and ability to obtain additional funding to support
its business activities; Rosetta's dependence on third parties for
development, manufacture, marketing, sales, and distribution of
products; Rosetta's ability to successfully develop its products
and services; Rosetta's ability to obtain regulatory clearances or
approvals that may be required for its products and services; the
ability to obtain coverage and adequate payment from health
insurers for the products and services comprising Rosetta's
technology; competition from others using technology similar to
Rosetta's and others developing products for similar uses;
Rosetta's dependence on collaborators; and Rosetta's short
operating history; as well as those risks more fully discussed in
the "Risk Factors" section of Rosetta's Annual Report on Form 20-F
for the year ended December 31, 2010 as filed with the Securities
and Exchange Commission. In addition, any forward-looking
statements represent Rosetta's views only as of the date of this
release and should not be relied upon as representing its views as
of any subsequent date. Rosetta does not assume any obligation to
update any forward-looking statements unless required by law.
Company Contact: Rosetta Genomics Ken Berlin President
& CEO (215) 382-9000 ext. 326 investors@rosettagenomics.com
Investor Contacts: Lippert/Heilshorn & Associates Anne
Marie Fields (212) 838-3777 afields@lhai.com or Bruce Voss (310)
691-7100 bvoss@lhai.com
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