Rosetta Genomics Reports Second Quarter 2008 Financi...(sponding periods of 2007respectively rem...)

As of June 30, 2008, we had $14.9 million in cash, cash equivalents, short and long term bank deposits, and marketable securities. Our outlook of total cash usage for operating activities for the remaining six months of 2008 is approximately $6 million. In July 2008 we paid $1.9 million in cash for the purchase of Parkway Clinical Laboratories, Inc.

As previously reported, due to the continuing uncertainty in the credit market, the company continues to impair its long-term investments in auction rate securities, which as of June 30, 2008, were valued at $1.8 million.

Recent Highlights

Rosetta Genomics reports the following scientific and corporate highlights:
Diagnostic Programs

- "miRview"(TM) is the name chosen for upcoming tests to be

developed and offered by Rosetta Genomics.

- First test based on the company's microRNA technology,

developed and validated by Columbia University Medical Center, approved

for clinical use. The test, which differentiates squamous from non

squamous non-small cell lung cancer (NSCLC) with sensitivity of 96% and

specificity of 90%, has recently been approved by the New York State

Department of Health Clinical Laboratory Evaluation Program. This test

will be clinically available through Columbia University Medical

Center's High Complexity Molecular Pathology Laboratory.

The ability of physicians to accurately differentiate squamous from non-squamous NSCLC is an important treatment guide. Bevacizumab, an angiogenesis inhibitor and an important new modality of therapy for non-squamous NSCLC, includes a black-box warning about substantially higher rates of severe or fatal hemorrhage among patients with squamous NSCLC histology compared with non-squamous NSCLC. In addi
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