Rosetta Genomics Ltd. (USA) (NASDAQ: ROSG)
Rosetta Genomics is having an incredible day in the market today, and for good reason. The company announced the receipt of conditional approval with regard to tests associated with the detection of rearrangement of DNA. Today, we’ll talk about the news, how the market reacted to the news, and what we can expect to see from ROSG moving forward.
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ROSG Announces Key Approval
As mentioned above, Rosetta Genomics is having a great start to the day’s trading session after announcing a key conditional approval. The approval came from the New York State Department of Health, also known as simply NYSDOH. The news surrounds the company’s fluorescence in situ hybridization tests, or FISH tests.
The tests have been designed by ROSG to detect amplifications or rearrangements of DNA in patients with hematologic cancers. These cancers comprise a long list, including leukemias, lyphomas, and myelomas. The ultimate goal here is to come to a diagnosis and/or to evaluate prognosis or remission of disease.
The news that was released was followed up by a statement from Kenneth A. Berlin, President and CEO at ROSG. Here’s what he had to say:
“We are delighted to be able to service clients across the State of New York with a full FISH menu for liquid tumor analysis, thus allowing them to better determine appropriate treatment options for their patients with hematologic cancers…
In addition to this expanded geographic access, recent managed care contracting initiatives have resulted in covered lives for these tests exceeding 155 million in the U.S. Our recognized expertise in FISH and our growing menu of tests serving the hematology-oncology and pathology markets will help strengthen our position with leading managed care plans as a provider of choice for high-quality FISH testing and should enhance our goal to sign additional participation agreements during the second half of 2016…”
How The Market Reacted To The News
As investors, one of the first things that we learn is that the news moves the market. The news surrounding Rosetta Genomics that was released today was overwhelmingly positive. So naturally, we’re seeing a strong reaction to the news in the market. Currently (10:52), the stock is trading at $1.40 per share after a gain of $0.26 per share, or 22.81%, thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from ROSG. The news today further validates the fact that the company is increasing efforts to bring its expertise in FISH testing to all in need. This effort will further expand the company’s reach and likely lead to incredible gains in the long run. All in all, I’m expecting to see further growth out of Rosetta Genomics stock.
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What Do You Think?
Where do you think ROSG is headed moving forward? Join the discussion at TalkTRENDZ!
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