ROSG Prices Public Offering, Feels the Sting

Rosetta Genomics (NASDAQ:ROSG) tumbled after the company announced last night that it would be initiating a $27.5MM public offering. Shares are down 15% premarket and have almost reached their 30-day average volume before the opening bell. Rosetta has been on a downward spiral since May, when it peaked around $16.00 after a one-to-fifteen reverse split. Since April, the company has been raising capital on a monthly basis through direct offerings. Yesterday’s announcement may be the straw that breaks the camel’s back as investors tire of the bumpy, downhill ride with ROSG.