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Rosetta Genomics Files for IPO, Plans to Raise Up to $44.85M

NEW YORK (GenomeWeb News) – Rosetta Genomics, a developer of microRNA-based diagnostics and therapeutics based in Rehovot, Israel, has filed papers with the US Securities and Exchange Commission for an initial public offering.
 
According to the SEC filing, dated Sept. 1, the privately held firm plans to sell 3 million shares at $11 to $13 per share, for a maximum offering price of $44.85 million.
 
The company said it has applied to list its shares on the Nasdaq Global Market under the symbol “ROSG.”
 
Assuming net proceeds of approximately $37.1 million, the firm said it plans to use $17.0 million to fund the continued development of diagnostic products for prostate cancer, lung cancer, colorectal cancer, breast cancer, cancer of unknown primary, and liver cancer.
 
Rosetta Genomics said it plans to use another $2.5 million to fund licensing and protection of intellectual property rights, and approximately $12.6 million to fund business development activities.
 
Rosetta Genomics was founded in 2000 and had 51 full-time employees as of August 31.

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