Rosetta Genomics Reports Second Quarter 2008 Financi...( Key Milestone Achieved With First...)

Key Milestone Achieved With First Diagnostic Test Based on Company's microRNA Technology, Developed by Columbia University Medical Center,

Approved for Clinical use

Acquires CLIA-certified lab to Expedite Commercialization of its

microRNA-based Tests Expands Pipeline With Three Additional microRNA-based Cancer Tests in

Development

REHOVOT, Israel and JERSEY CITY, New Jersey, August 19 /PRNewswire-FirstCall/ -- Rosetta Genomics, Ltd. (NASDAQ: ROSG), a leading developer of microRNA-based diagnostic and therapeutic products, reported today its consolidated financial results for the quarter ended June 30, 2008 and business highlights.

The company reported a 2008 second-quarter net loss of $3.7 million, or $0.31 per ordinary share. The second-quarter result compares with a net loss of $2.3 million, or $0.19 per ordinary share, for the corresponding quarter of 2007. Net loss for the six months ended June 30, 2008 was $7.6 million, or $0.63 per ordinary share, compared with a net loss of $4.3 million, or $0.41 per ordinary share, for the corresponding period of 2007.

"This has been a very exciting, and eventful quarter for us with the approval of the first test based on our microRNA technology and the acquisition of a CLIA-certified lab, both of which represent key milestones on our path to become a fully commercial company," said Amir Avniel, President and CEO of Rosetta Genomics. "The approval of the first test acts as strong validation to microRNA's ability to be utilized as powerful biomarkers, and we expect two additional tests - for differentiating mesothelioma from adenocarcinomas in the lung, and identifying the p
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