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/C O R R E C T I O N -- Rosetta Genomics Ltd/
Date:5/21/2008

non-small cell lung cancer (NSCLC) and is the first of three tests the company expects will be submitted for regulatory approval by CLIA certified labs in 2008.

In addition, the company recently announced an agreement with the University of California, Irvine School of Medicine to develop diagnostic tests based on Rosetta's proprietary microRNA technology.

On the scientific front, in a paper published in the April issue of Nature Biotechnology, Rosetta Genomics and collaborators demonstrated the significant potential of microRNAs to be used as biomarkers for diagnosing the primary tumor site in patients with cancer of unknown primary (CUP). The company expects a CUP test based on its microRNA technology to be submitted for regulatory approval by a CLIA certified lab by the end of 2008.

Financial Overview

Operating loss for the first quarter of 2008 was $3.7 million (including a non-cash expense of $191,000 related to stock based compensation), compared with an operating loss of $2.2 million (including a non-cash expense of $205,000 related to stock based compensation) for the corresponding quarter of 2007. Net loss for the first quarter of 2008 was $3.9 million, or $0.33 per ordinary share, compared with a net loss of $2 million, or $0.23 per ordinary share, for the corresponding quarter of 2007.

Research and development expenses of $2.4 million for the first quarter of 2008, compared to $1.2 million for the first quarter of 2007, remain the Company's largest expense and accounted for 64% of its operating losses.

As of March 31, 2008 we had $18.6 million in cash, cash equivalents, short and long term bank deposits and marketable securities. Our outlook of total cash usage for operating activities for the next nine month of 2008 is approximately $10 million.

As previously announced, the Company continues to receive interest payments from its auction rate securities, which all but two are rated AAA. However, due to the
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SOURCE Rosetta Genomics Ltd
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Related biology technology :

1. Rosetta Genomics Announces Annual General Meeting of Shareholders to be Held on September 24, 2007
2. NYU Medical Center Collaborates With Rosetta Genomics to Develop a microRNA-Based Diagnostic Test for Melanoma
3. Rosetta Genomics to Present at the American Association of Cancer Research (AACR) "Molecular Diagnostics in Cancer Therapeutic Development" Conference
4. Rosetta Genomics to Webcast Presentation at Maxim Group Growth Conference
5. Rosetta Genomics to Host and Webcast its R&D Day on Friday, October 26, 2007
6. Rosetta Genomics Will Host and Webcast its R&D Day on Friday, October 26, 2007
7. Rosetta Genomics Announces Initiation of In Vivo Studies Following Successful Completion of First Milestone in MicroRNA-based Therapeutic Program for Liver Cancer
8. Rosetta Genomics Selects PCR as Platform for its microRNA-based Diagnostics to be Launched in 2008, Licensed Nanogens MGB Probe Technology
9. Rosetta Genomics and Columbia University Medical Center to Develop MicroRNA-based Diagnostics for Leukemia and Non Hodgkin Lymphoma
10. Rosetta Genomics Announces Initiation of Expansion of US Operations to Facilitate Expected Product Launches in 2008
11. Henry Ford Hospital and Rosetta Genomics to Develop MicroRNA-based Diagnostics for Brain Cancer
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