The share price has retreated in today's trading.
It's not everyday that research causes a company to almost double its market cap and spurs it to raise money, but that's what happened yesterday to Rosetta Genomics (NASDAQ: ROSG). It started with research published by Johns Hopkins University confirming that Rosetta's diagnostic method accurately distinguishes between two types of lung cancer. This led to an 86% rise in Rosetta's share price on Wednesday, bringing the company to a market cap of $43.8 million.
In the wake of the hysteria, the company decided to raise money, and received commitments amounting to $5.1 million from investment institutions. The share price in the private placement is $2, compared with a closing price of $3.9 yesterday.
In today's trading the share price is down 30%, at $2.16.
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2010
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