Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) announced it has received valuable patents for the use of its miR-451 drug for the treatment of certain cancers. The Notice of Allowance from the US Government protects the proprietary intellectual information and will allow the company to monetize the drug. Rosetta also received its first allowance for miR-451 and covers the company’s Cancer of Unknown Primary (CUP) testing system.
The patent is broad and expands on a previous one allotted the company. The patent now also covers the therapy associated with the miR-451 asset. Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) shares ownership of the patent with Yeda Research and Development of Israel.
The protein has been effective in suppressing tumors in mammals which is encouraging its success on use with humans. Many cancers are within the scope of miR-451 and suppressing tumors is an important advancement in the prevention of the disease.
The company also received a Notice of Allowance from the Japan Patent Office for its application there. This was in relation to its human miR-92b, it allows it to be used to compliment other proteins or as a probe. The claim also covers anything more than 90% similar to Rosetta’s property. The patents are critical protection for Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) and assist them with their ability to protect their proprietary microRNA technology.
Rosetta creates and monetizes the microRNA diagnosis for testing purposes. The company was started in 2000 but through aggressive research has developed the cutting-edge technology. Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) is looking to develop a complete set of diagnostic tools that are based on the microRNA property. Their cancer testing services are sold through it CLIA-certified lab in Philadelphia. That facility is CAP certified and also markets the company’s products.
The stock pulled back from the highs it set the day before when the patents were announced. This may be a healthy pause and a non-event. Today’s sell-off did do something healthy for the stock as it dropped its over-bought symptom and is now neutral. This might not be a bad entry point as the stock stopped falling at support and seems to have a solid foundation at $3.80.