Rosetta Genomics Ltd. (ROSG)

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Rosetta Genomics Ltd. (ROSG)

Business Update Conference Call

October 2, 2012 10:00 a.m. ET


Kenneth Berlin - President and Chief Executive Officer

Ron Kalfus - Chief Financial Officer

Anne Marie Fields - Investor Relations, LHA



Welcome to the Rosetta Genomics Business Update Conference Call. At this time all participants are in a listen-only mode. Following management’s prepared remarks, we will hold a Q&A session. (Operator Instructions) As a reminder this conference is being recorded October 2, 2012. I would now like to turn the conference over to Anne Marie Fields. Please go ahead, ma’am.

Anne Marie Fields

Thank you. Good morning. This is Anne Marie Fields with LHA. Thank you all for participating in today's call. Joining me from Rosetta Genomics are Ken Berlin, President and Chief Executive Officer, and Ron Kalfus, Chief Financial Officer.

Before we begin, I would like to state that some of the information discussed during this call will contain projections or other forward-looking statements regarding future events or the future financial performance of Rosetta Genomics, including but not limited to, statements regarding the expected timing of products under development and the launch of U.S. commercial operations. I refer you to the documents that the company files from time to time with the U.S. Securities and Exchange Commission, specifically its Annual Report on Form 20-F for the year ended December 31, 2011 and periodic reports filed on Form 6-K. These documents identify important risk factors that could cause actual results to differ materially from those contained in projections or forward-looking statements.

Furthermore, the content of this conference call contains information that is accurate only as of the date of the live broadcast, October 2, 2012. Rosetta Genomics undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call. So with that said, I would now like to turn the call over to Ken Berlin. Ken?

Kenneth Berlin

Thank you, Anne Marie. Good morning everyone and thank you for joining us. It’s my pleasure to address you today and to share the many achievements we have made throughout the first nine months of 2012. We are proud of these accomplishments which have allowed us to fortify and expand our leadership in microRNA-based diagnostics.

Not too long ago, we were challenged in raising capital to fund operations and build the business. Today we are a significantly stronger company with more than $30 million in the bank and expanded leadership team with the addition of seasoned industry executives. A strong co-marketing partner for our lead product, miRview® mets(2), and their launch of mets (2) within the U.S. combined with favorable Medicare reimbursement, position us well for growth in the coming quarters.

While there has been considerable volatility in the trading of our ordinary shares since we implemented our reverse stock split, reported positive developments and raised capital, I am pleased to report that year-to-date our stock price is up nearly 150% based on yesterday’s closing price. We have significantly increased our average daily trading volume to more than 1.5 million shares, and our market cap has increased from approximately $2 million to over $60 million, while the enterprise value has grown 15-fold.

We have had a remarkable turnaround during this first nine months of 2012 and this has been the most exciting period for the company since I joined as CEO three years ago. We still have much work ahead in these accomplishments that help put some important pieces in place that we believe position us for more exciting times for Rosetta moving forward.

In a moment I will turn the call over to Ron Kalfus, our CFO, who will review our recent financial performance and cash position with you. Then I will return to provide some color on the company's commercial expansion, R&D efforts and partnership opportunities. During this time I will introduce you to some of the new members of our executive team including Steven Miller, Director of Marketing and Reimbursement, and Guy Malchi, our Executive Vice President of Corporate Development. After the prepared remarks we will open the call to your questions.

Before I turn the call over to Ron, I would like to give you a little background. Ron joined us as CFO this past May. Prior to Rosetta, he was CFO and Treasurer of MabCure, a publicly-traded biotechnology startup company focused on early cancer detection using monoclonal antibodies. Previously he was with the retailer, Toys "R" Us, where he was responsible for SEC reporting and later in the financial planning department managing the Toys "R" Us divisions annual budget. Ron has worked in public accounting where he specialized in audits of medium-sized enterprises and public companies. He is providing valuable strategic leadership to our finance team and we are delighted to have him on board. Ron?

Ron Kalfus

Thank you all for joining us. It is my pleasure to be addressing you this morning. Before I began my discussion of our financials, I would like to take a moment to tell you what drew me to Rosetta Genomics and why I am so excited to be part of this team.

When I first learned about Rosetta, the stock was trading well below where it is today and cash reserves were not high, but the company had a very impressive lineup of products with an equally impressive technology. Coming from a biotech company in a similar space, I recognized how much potential Rosetta had. But really what made the biggest impact on me was meeting the team. This is a team that is filled with dedication and desire to affect people’s lives with remarkable products and breakthrough technology.

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