Our VIP Members and Twitter followers got our alert on May 16th about Rosetta Genomics Ltd. (Nasdaq: ROSG) stock which closed at $1.62 on the 15th. We had been tracking ROSG stock for a few months and heard word of a financing deal they were putting together putting them on the list of VIP penny stock picks. We’re proud to announce that ROSG stock rose as high as $23.43 today, a gain of 1,346%. ROSG is currently trading at $18.29 which is still a gain of over 1,000%.
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On May 16th, the Company entered into definitive agreements with investors to purchase an aggregate of 632,057 ordinary shares at a price of $3.50 per share in a registered direct offering. The offering was expected to close on or about May 22, 2012, subject to the satisfaction of customary closing conditions.
The Company announced plans to use the net proceeds from the offering primarily to fund its operations and for other general corporate purposes, including, but not limited to, repayment or refinancing of existing indebtedness or other corporate borrowings, working capital, intellectual property protection and enforcement, capital expenditures, investments, acquisitions or collaborations, research and development and product development.
Aegis Capital Corp. acted as the exclusive placement agent for the offering.
About Rosetta Genomics
Rosetta develops and commercializes a full range of microRNA-based molecular diagnostics. Founded in 2000, Rosetta’s integrative research platform combining bioinformatics and state-of-the-art laboratory processes has led to the discovery of hundreds of biologically validated novel human microRNAs.
Building on its strong patent position and proprietary platform technologies, Rosetta is working on the application of these technologies in the development and commercialization of a full range of microRNA-based diagnostic tools. Rosetta’s miRview product line is commercially available through its Philadelphia-based CAP-accredited, CLIA-certified lab.
Bottom Line: ROSG is no longer a penny stock and all of the VIP subscribers and Twitter followers can be happy to book over 1,000 % gains in less than 10 days. Stay tuned for more non-OTC penny stocks, like SBLK, which we believe are poised for breakouts n the short term.
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