Rosetta Genomics Ltd. (USA) (NASDAQ: ROSG) is having an overwhelmingly strong start to the trading session in the pre-market hours this morning, and for good reason. The company recently released a corporate update with some exciting news surrounding RevealTM. Today, we’ll talk about the data, how the stock is reacting to the news, and what we’ll be watching for with regard to ROSG ahead.
ROSG Gains On Update
As mentioned above, Rosetta Genomics is having an incredibly strong start to the trading session in the pre-market hours after the company released new information via an updated slide deck. The information surrounds RevealTM, the company’s proprietary microRNA-based test designed to identify benign thyroid modules. Here are the key points from the release:
- Revenue Growth – ROSG said that the company has seen exceptional revenue growth since the launch of the product back in 2016. This is ultimately the result of the offering’s convenience and performance advantages compared to other products.
- Revenue Total – In the first half of the year 2017, ROSG generated $1.2 million in revenue from the product. That’s a 600% increase when compared to the first half of 2016. Also in the third quarter of 2017, preliminary revenues from Reveal came in at $0.86 million!
- Sales Plans – Rosetta Genomics also said that it has committed to a plan to sell Pdx businesses. Ultimately, this decision was based on a $350 million market opportunity in the United States alone.
- Studies – Finally, ROSG is in the midst of various studies to support demand growth and continue to improve reimbursement coverage.
How The Stock Is Reacting To The News
As you could imagine, with Rosetta Genomics announcing a 600% increase in sales revenue, investors are excited. Of course, the stock is flying as a result. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (8:46), ROSG is trading at $0.92 per share after a gain of $0.13 share or 16.47% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ROSG. In particular, we’re interested in following the ongoing story surrounding the company’s Reveal product, and we’re excited to continue following the growth. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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