Navigation Links
Credit Suisse Repurchases Auction Rate Securities (ARS) From Rosetta Genomics
Date:10/27/2008

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.

About MicroRNA

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 the field of microRNA. 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 IP position and proprietary platform technologies, Rosetta Genomics is working on the application of these technologies in the development of a full range of microRNA-based diagnostic and therapeutic tools, focusing primarily on cancer and various women's health indications. The company expects that the first microRNA diagnostic tests applying its technology will be launched by licensed clinical laboratories in the United States in 2008.

Forward-Looking Statement Disclaimer

Various statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to the expected timing or the repurchase of the remaining ARS by Credit Suisse, the role of microRNAs in human physiology and disease, the potential of microRNAs in the diagnosis and treatment of disease and the expected timing of submission for approval and launch of diagnostic tests using our microRNA technology 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 is unproven and may never lead to marketable products or services; Rosetta's ability to fund and the results of further pre-clinical and clinical trials; Rosetta's ability to obtain, maintain and protect the intellectual property utilized by Rosetta's products; Rosetta's ability to enforce its patents against infringers and to defend its patent portfolio against challenges from third parties; Rosetta's 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 candidate tools, products and services, all of which are in early stages of development; 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, 2007 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.

Contact:

Investors

Joshua Gordon, M.D.

T: +1-201-946-0561

E: investors@rosettagenomics.com

Media

Ron Kamienchick

T: +1-646-509-1893

E: media@rosettagenomics.com


'/>"/>
SOURCE Rosetta Genomics Ltd
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Boston Scientific Amends Credit Facility and Prepays $1 Billion on Loan
2. China Medical Technologies to Participate in Credit Suisses 2007 Asian Technology Conference
3. AviaraDx Announces CAP Accreditation of Its Laboratory Operations
4. Angiotech to participate in Bank of America 2007 Credit Conference
5. Sigma-Aldrich Achieves Double Accreditation as a Certified Reference Material Producer Following ISO/IEC 17025 and ISO Guide 34
6. Energy Conversion Devices and United Solar Ovonic Enter Into New $55 Million Secured Credit Facility Agreements
7. Credit-card-sized platform for volatile compound analysis CAREER project goal
8. Nova Biosource Fuels Announces First Funding Under $41 Million Senior Secured Credit Facility
9. GeneNews receives ISO 13485 accreditation
10. Angiotech to participate in Credit Suisse Global Leveraged Finance Conference
11. Ferring Initial Purchase Order and Guaranteed Letter of Credit Launches Five Year Contract
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/29/2016)... and San Diego, CA (PRWEB) , ... April 29, 2016 , ... ... Stem Cell Foundation (NSCF) to support the development of a patient-specific stem cell therapy ... Andrés Bratt-Leal in the lab of Dr. Jeanne Loring at The Scripps Research Institute ...
(Date:4/28/2016)... 2016 Q BioMed Inc. ... CEO  was featured in an article he wrote ... Fear To Tread: http://www.lifescienceleader.com/doc/accelerators-enter-when-vcs-fear-to-tread-0001 ... is an essential business journal for life science ... to Big Pharmas. Their content is designed to ...
(Date:4/28/2016)... Windsor, Connecticut (PRWEB) , ... April 28, 2016 ... ... Morris Group, Inc., will hold an open house for regional manufacturers at its ... and displays from Tsugami, Okuma, Hardinge Group, Chiron and Trumpf. Almost 20 ...
(Date:4/27/2016)... ... April 27, 2016 , ... Most consumers engage with biometrics ... for secure access, voice recognition for hands-free communication, and facial recognition to help ... biometrics technology today. But if they asked Joey Pritikin, Vice President of ...
Breaking Biology Technology:
(Date:4/28/2016)... Sweden , April 28, 2016 First ... M (139.9), up 966% compared with the first quarter of 2015 ... profit totaled SEK 589.1 M (loss: 18.8) and the operating margin ... 7.12 (loss: 0.32) Cash flow from operations was SEK ... The 2016 revenue guidance is unchanged, SEK 7,000-8,500 M. ...
(Date:4/15/2016)...  A new partnership announced today will help ... in a fraction of the time it takes ... life insurance policies to consumers without requiring inconvenient ... Diagnostics, rapid testing (A1C, Cotinine and HIV) and ... weight, pulse, BMI, and activity data) available at ...
(Date:3/31/2016)... March 31, 2016   ... or the "Company") LegacyXChange is excited to ... its soon to be launched online site for trading ... ) will also provide potential shareholders a sense ... technology to an industry that is notorious for fraud. ...
Breaking Biology News(10 mins):