Rosetta Genomics Gains after Receiving Entrepreneurial Award

After receiving a Next Generation Diagnostics Entrepreneurial Company of the Year Award from Frost and Sullivan yesterday, Rosetta Genomics (NASDAQ:ROSG) is up 7%  ahead of the bell. The award was based on ROSG’s extensive work with oncology biomarkers and contributions to the diagnostics field. The company’s lead product, miRview, is a diagnostic assay to identify cancer types using microRNA biomarkers; it identifies 42 different types of cancer. Frost and Sullivan cited a “perfectly executed strategic plan”, a “highly differentiated flagship product”, and continued clinical validation as reasons for the award. Although largely immaterial, the award boosts investor confidence in the company’s lead product and spotlights miRview as a comprehensive diagnostics tool. Today’s gains are unlikely to last on the announcement alone, but come as a relief to the company shortly after a dilutive $27.5 million public offering.