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ISS Recommends That Response Genetics Shareholders Vote Managementa?s Gold Proxy Card to Re-Elect Experienced Directors

^{Published on 2010-09-10 12:55:24 - Market Wire}
 

LOS ANGELES--([ BUSINESS WIRE ])--Response Genetics, Inc. (Nasdaq:RGDX) (the aCompanya or aRGIa) announced today that Institutional Shareholder Services (aISSa), the nationa™s leading voting advisory service, has recommended that shareholders vote in favor of substantially all of the Companya™s board nominees at RGIa™s annual meeting of shareholders, scheduled for September 21, 2010. ISS recommends that shareholders not vote on the dissidentsa™ white proxy card. This recommendation follows a similar recommendation from Glass Lewis, another leading voting advisory firm, to reject the dissidentsa™ proposed change of control and to vote instead for a majority of the Companya™s board nominees on managementa™s GOLD proxy card.

"we do not feel [the dissidents have] made a sufficiently compelling case to justify wholesale board change at this time nor do we feel [they have] produced a detailed plan including a succession plan to warrant majority representation."

In making its recommendation, ISS noted that a[b]ecause the companya™s Response DX tests are viewed as the primary driver of the value of RGDX stock price and commercialization of these test suites began in earnest in 2009 a we believe the period from 2009 to present to be the most relevant measurement period to assess the boarda™s performance.a Based on [total shareholder return], the company has outperformed its peer and indices over the most recent one year and the period from Jan. 2009 to presenta. In sum, from a performance perspective, we do not feel the dissidents have provided a compelling case for change.a

ISS also concluded that awe do not feel [the dissidents have] made a sufficiently compelling case to justify wholesale board change at this time nor do we feel [they have] produced a detailed plan including a succession plan to warrant majority representation.a While recommending the re-election of virtually all of the Companya™s experienced Board nominees, ISS also noted that the three new independent nominees on the management slate a" Jan C. Fagerberg, M.D., Ph.D., Christine Meda and Michael Metzger a" appear to possess athe specific skills and industry experience to drive operating initiatives.a

Kathleen Danenberg, CEO and a current member of the Board, said, aWe are extremely pleased that ISS, one of the leading independent proxy advisory firms, has recognized the recent success of our Company under the direction of our current Board, as well as the positive attributes of our new independent director nominees. We believe that our Board nominees possess the blend of experience and leadership credentials in the diagnostics and pharmaceuticals industries to maintain the positive momentum of the Company. We continue to recommend that our shareholders reject the dissidentsa™ proposal to obtain control of our Board.a

VOTE aFORa YOUR BOARDa™S NOMINEES
ON THE GOLD PROXY CARD TODAY

We urge you to support your Board and management by voting FOR the nominees proposed by management, and, as recommended by both ISS and Glass Lewis, not to return any white proxy card sent to you by the dissident group.

About Response Genetics, Inc.

Response Genetics Inc. is focused on the development and sale of molecular diagnostic tests for cancer. RGIa™s technologies enable extraction and analysis of genetic information from genes derived from tumor samples stored as formalin-fixed and paraffin-embedded specimens. In addition to diagnostic testing services, the Company generates revenue from the sales of its proprietary analytical pharmacogenomic testing services of clinical trial specimens to the pharmaceutical industry. RGI was founded in 1999 and its principal headquarters are located in Los Angeles, California. For more information, please visit [ www.responsegenetics.com ].

Forward-Looking Statement Notice

Except for the historical information contained herein, this press release and the statements of representatives of RGI related thereto contain or may contain, among other things, certain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.

Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Companya™s plans, objectives, projections, expectations and intentions, such as the ability of the Companyto continue to maintain its growth, the ability of the Company to successfully integrate the roles of operations, strategy and business development, , and other statements identified by words such as aprojects,a amay,a acould,a awould,a ashould,a abelieves,a aexpects,a aanticipates,a aestimates,a aintends,a aplansa or similar expressions.

These statements are based upon the current beliefs and expectations of the Companya™s management and are subject to significant risks and uncertainties, including those detailed in the Companya™s filings with the Securities and Exchange Commission. Actual results, including, without limitation, actual sales results, if any, or the application of funds, may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Companya™s control). The Company undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

Important Information

On August 16, 2010 the Company filed its definitive proxy statement and began the process of mailing its definitive proxy statement, together with a GOLD proxy card. Shareholders are strongly advised to read the Companya™s proxy statement as it contains important information. Shareholders may obtain an additional copy of the Companya™s definitive proxy statement and any other documents filed by the Company with the Commission for free at the Internet website maintained by the Securities and Exchange Commission at [ www.sec.gov ]. Copies of Company proxy materials may be requested by contacting our proxy solicitor, MacKenzie Partners, Inc. at (800) 322-2885 toll-free or by email at [ proxy@mackenziepartners.com ]. Detailed information regarding the names, affiliations and interests of individuals who are participants in the solicitation of proxies of the Companya™s shareholders is available in the Companya™s definitive proxy statement filed with the Securities and Exchange Commission on August 16, 2010.