REHOVOT, Israel and JERSEY CITY, New Jersey, October 27 /PRNewswire-FirstCall/ -- Rosetta Genomics Ltd. (Nasdaq:ROSG), a leader in the development of microRNA-based diagnostics and therapeutics, today announced that Credit Suisse, as part of a settlement agreement it has reached with the Attorney General of the State of New York and the North American Securities Administrators Association Task Force, has begun to repurchase Rosetta Genomics ARS. So far, Credit Suisse has repurchased $2.7M worth of the $7.5M in ARS held by Rosetta Genomics.
Rosetta Genomics' believes that most of the remaining $4.8M in ARS that it holds will be repurchased by Credit Suisse by the end of the year, although Rosetta Genomics cannot provide any assurance that the remaining ARS will be repurchased according to this timeline, or at all.
MicroRNAs (miRNAs) are recently discovered, naturally occurring, small RNAs that act as master regulators and have the potential to form the basis for a new class of diagnostics and therapeutics. Since many diseases are caused by the abnormal activity of proteins, the ability to selectively regulate protein activity through microRNAs could provide the means to treat a wide range of human diseases. In addition, microRNAs have been shown to have different expression in various pathological conditions. As a result, these differences may provide for a novel diagnostic strategy for many diseases.
About Rosetta Genomics
Rosetta Genomics (Nasdaq: ROSG) is a leader in
|SOURCE Rosetta Genomics Ltd|
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