Navigation Links
Rosetta Genomics Announces One-For-Four Reverse Stock Split
Date:7/6/2011

PHILADELPHIA and REHOVOT, Israel, July 6, 2011 /PRNewswire/ -- Rosetta Genomics, Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostic tests, today announced the effectiveness of a one-for-four reverse stock split of its share capital.  The reverse stock split, which was previously approved by the Company's Board of Directors, was approved by its shareholders at the 2011 Annual General Meeting of Shareholders of the Company held earlier today.  

The reverse stock split is intended to increase the per share trading price of the Company's ordinary shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market.  As a result of the reverse stock split, every four ordinary shares issued and outstanding prior to the opening of trading on July 7, 2011 will be consolidated into one issued and outstanding share, with a change in the nominal par value per share from NIS 0.01 to NIS 0.04.  No fractional ordinary shares will be issued as a result of the reverse stock split and any fractional shares will be rounded up to the nearest whole number.

Trading of the Company's ordinary shares on the NASDAQ Capital Market will continue, on a split-adjusted basis, with the opening of the markets on Thursday, July 7, 2011, under new CUSIP number M82183 118.  The Company's ordinary shares will trade under the symbol "ROSGD" for a period of 20 trading days, to designate that it is trading on a post-reverse split basis.  The ordinary shares will resume trading under the symbol "ROSG" after that 20-day period.  Immediately subsequent to the reverse stock split, there will be approximately 7,556,023 of the Company's ordinary shares issued and 7,507,180 of the Company's ordinary shares outstanding.

The Company has retained its transfer agent, American Stock Transfer & Trust Company, LLC ("AST"), to act as its exchange agent for the reverse split.  AST will provide shareholders of record as of the effective date a letter of transmittal providing instructions for the exchange of their certificates.  Shareholders owning shares via a broker or other nominee will have their positions automatically  adjusted to reflect the reverse stock split, subject to brokers' particular processes, and will not be required to take any action in connection with the reverse stock split.  

For more information regarding the Company's reverse stock split, please refer to the proxy statement filed by the Company with the Securities and Exchange Commission as an exhibit to its Report on Form 6-K on May 31, 2011.

About Rosetta GenomicsRosetta 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 StatementsVarious statements in this release concerning Rosetta's future expectations, plans and prospects, including without limitation, statements relating to the ability of Rosetta to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market and the ability to develop and commercialize of a full range of microRNA-based diagnostic tools, 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 Ltd.

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
'/>"/>

SOURCE Rosetta Genomics, Ltd.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Microsoft Signs Agreement With Merck & Co. Inc. to Acquire Assets of Rosetta Biosoftware, Strengthening Position in Life Sciences Industry
2. Rosetta Genomics and Collaborators Unveil Colon Cancer Screening Diagnostic; Identified Candidate MicroRNA Biomarkers in Serum
3. Rosetta Genomics Announces Exclusive Distribution Agreement With Teva Pharmaceutical Industries Ltd.
4. Rosetta Genomics Announces Commercial Availability of Its Third MicroRNA-Based Diagnostic Test: miRview(TM) meso
5. Rosetta Genomics to Webcast Panel Presentation at RBC Capital Markets 2008 Healthcare Conference
6. Rosetta Genomics Reports Third Quarter 2008 Financial Results; Records First Revenues of $705,000; $7.4 Million Added to Available Cash Due to Repurchase of ARS
7. Rosetta Genomics Announces Conference Call and Webcast of Third Quarter Financial Results
8. /C O R R E C T I O N -- Rosetta Genomics Ltd/
9. Rosetta Genomics to Present at the American Association of Cancer Research (AACR) Centennial Conference
10. Rosetta Genomics to Present at Oppenheimers 19th Annual Healthcare Conference
11. Credit Suisse Repurchases Auction Rate Securities (ARS) From Rosetta Genomics
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... 2016 , ... Mosio, a leader in clinical research patient ... and Retention Tips.” Partnering with experienced clinical research professionals, Mosio revisits the hurdle ... and strategies for clinical researchers. , “The landscape of how patients receive and ...
(Date:6/23/2016)... SPRING, Md. , June 23, 2016 A ... collected from the crime scene to track the criminal down. ... and the U.S. Food and Drug Administration (FDA) uses DNA ... Sound far-fetched? It,s not. The ... genome sequencing to support investigations of foodborne illnesses. Put as ...
(Date:6/23/2016)... -- The Biodesign Challenge (BDC), a university competition that asks ... systems and biotechnology, announced its winning teams at the ... York City . The teams, chosen ... MoMA,s Celeste Bartos Theater during the daylong summit. Keynote ... of architecture and design, and Suzanne Lee , ...
(Date:6/23/2016)... ... June 23, 2016 , ... In a new case ... Denmark detail how a patient who developed lymphedema after being treated for breast cancer ... could change the paradigm for dealing with this debilitating, frequent side effect of cancer ...
Breaking Biology Technology:
(Date:6/22/2016)... WASHINGTON , June 22, 2016 On ... highly-anticipated call to industry to share solutions for the ... by U.S. Customs and Border Protection (CBP), explains that ... nationals are departing the United States ... criminals, and to defeat imposters. Logo - ...
(Date:6/9/2016)... control systems is proud to announce the introduction of fingerprint attendance control software, allowing ... are actually signing in, and to even control the opening of doors. ... ... ... Photo - http://photos.prnewswire.com/prnh/20160609/377487 ...
(Date:6/2/2016)... , June 2, 2016   The Weather Company , ... Watson Ads, an industry-first capability in which consumers will be ... able to ask questions via voice or text and receive ... Marketers have long sought an advertising ... that can be personal, relevant and valuable; and can scale ...
Breaking Biology News(10 mins):