Response Genetics Reports Second Quarter 2007 Financi... (ash equivalents at June 30 2007 were $19...)

Response Genetics Reports Second Quarter 2007 Financial Results

Date:8/19/2007

ash equivalents at June 30, 2007 were $19.4 million compared to $4.9 million at December 31, 2006. On June 8, Response Genetics completed its initial public offering of 3,000,000 shares of its common stock at a price of $7.00 per share.

Corporate Highlights

Completion of Initial Public Offering

On June 5, Response Genetics announced its initial public offering of 3,000,000 shares of its common stock at a price of $7.00 per share. Shares of Response Genetics' stock began trading on the NASDAQ under the symbol "RGDX" that day. Maxim Group LLC acted as lead underwriter and representative of the underwriters of the offering, and Caris & Company acted as co-manager.

Opening of European Laboratory in Edinburgh, Scotland

On July 2, the Company announced the opening of its first European laboratory in Edinburgh, Scotland. This is the first in a series of strategically placed global laboratories that the Company plans to open to support the pharmaceutical industry's need for genetic analysis of their global clinical trial specimens. The Edinburgh laboratory is now open, fully equipped and able to analyze clinical trial specimens.

Data Publication in Journal of Clinical Oncology

On July 9, positive Phase III clinical data results were published in the July 1 issue of the Journal of Clinical Oncology, suggesting that low expression of the biomarker Excision-Repair Cross-Complementing 1 (ERCC-1) in patient biopsies with advanced non-small cell lung cancer (NSCLC) predicts for sensitivity to cisplatin-based chemotherapy. ERCC-1 is an enzyme involved in repair of DNA strand breaks such as those caused by cisplatin. The analysis of ERCC-1 levels in this study was conducted by Response Genetics using its RGI-1 technology.

This was the first prospective study using a biomarker to predict chemotherapy response in lung cancer. These findings support the use of measurement of ERCC-1 for individualizing therapies for lung cancer patients.<
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SOURCE Response Genetics, Inc.

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Response Genetics Reports Second Quarter 2007 Financi...(ash equivalents at June 30 2007 were $19...)