Rosetta Genomics Reports First Quarter 2008 Financi...( First Diagnostic Test Based on Compa...)

First Diagnostic Test Based on Company's microRNA Technology Submitted for Regulatory Approval to the New York State Department of Health by Columbia

University Medical Center Additional West Coast Clinical Laboratory to Validate and Offer Tests Based

on Rosetta Genomics' microRNA Technology

Two Additional microRNA-Related Patents Allowed

REHOVOT, Israel and NORTH BRUNSWICK, New Jersey, May 21 /PRNewswire-FirstCall/ -- Rosetta Genomics, Ltd. (NASDAQ: ROSG), a leading molecular diagnostics company, reported today its consolidated financial results for the quarter ended March 31, 2008 and business highlights.

The 2008 first-quarter net loss of $3.9 million (including a non-cash expense of $191,000 related to stock based compensation), or $0.33 per ordinary share. The first-quarter result compares with a net loss of $2 million (including a non-cash expense of $205,000 related to stock based compensation), or $0.23 per ordinary share, for the corresponding quarter of 2007.

"This has been a remarkable quarter for us at Rosetta Genomics on both the business and scientific fronts," said Amir Avniel, President and CEO of Rosetta Genomics. "We have continued the rapid advancements towards the launch of the first diagnostic tests based on our microRNA technology, and look forward to the exciting events that lay ahead of us in the following months."

On the business front, Rosetta Genomics recently announced that Columbia University Medical Center's Molecular Pathology Laboratory has submitted the first microRNA-based test based on the company's microRNA technology for regulatory approval to the New York State Department of Health. The test is designed to differe
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