Rosetta Genomics (NASDAQ: ROSG), a developer and provider of
microRNA-based molecular diagnostics, was trading up Thursday following an announcement that it has expanded its management team, laboratory capacities, and commercial operations in preparation for an increase in sales.
Last Thursday Myriad Genetics (NASDAQ: MYGN), a competitor to Rosetta, won a landmark appeals case. The judge said Myriad was able to patent DNA as it was created in a lab from natural elements. This decision paves the path for a robust DNA engineering industry and one that can protect its intellectual property.
Also helping Rosetta's share price was the initiation of coverage, and subsequent Buy rating, given by the research firm Aegis Capital. Combined with the legal ruling and a recent raise of capital, this series of events lead to a strong rally in the stock, as shares traded up nearly 56% in under five days.
Shares of Rosetta Genomics traded up over 28% Thursday near $6.13.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.