Rosetta Genomics Ltd. (NASDAQ:ROSG) has traded as high as $23.43 for a possible gain of 1346% during today’s trading session and last traded at $19 for a gain of 69.04% from yesterday’s close and 1072.83% from my 5.15 alert at $1.62!! ROSG shares have traded as high as $36.43 over the past 52 weeks, which is 35.68% off that high at last traded stock price. Get my next ALERT 100% FREE
In recent months the Biotech Industry has become a hotbed of Merger and Acquisition (M&A) activity and speculation. As large pharmaceuticals face major patent expirations in 2012 they have looked to biotech companies to provide new streams of revenue. Given the limited amount of competing companies, the ones with quality drugs and proven technologies stand to gain the most.
The U.S. patent system will see a major change for the first time in over 60 years. The America Invents Act (AIA) will see the U.S. patent system transform from a “first to invent” to a “first to file” system. The majority of countries around the world have already adopted the “first to file” system. The AIA will help benefit biotech companies “by enhancing patent quality and the efficiency, objectivity, predictability and transparency of the U.S. patent system.” BIO President and CEO Jim Greenwood stated in a press release: “Small biotechnology companies rely heavily on their patents to attract investment,” and “they will benefit from the improvements to our nation’s patent system made by this legislation,” added Greenwood.
Rosetta Genomics Ltd., a leading developer and provider of microRNA-based molecular diagnostic tests, earlier this week announced that Novitas, the designated Medicare Administrative Contractor for the Company’s miRview® mets2 assay, has informed Rosetta that it plans to cover this assay for all Medicare beneficiaries. The policy will cover the 45 million Medicare beneficiaries and will enable Rosetta to provide the miRview® mets2 assay for Medicare beneficiaries throughout the U.S. at no cost to the patient, thereby eliminating an adoption barrier for the physician ordering the test and for the patient.
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