The Rosen Law Firm today announced that it has commenced an investigation into allegations that AspenBio Pharma, Inc. (“AspenBio” or the “Company”) (Nasdaq: APPY - News) violated the federal securities laws by issuing false and misleading statements to investors about its product candidate AppyScore.

Since as early February 15, 2006, AspenBio has been touting AppyScore as an effective test to diagnose appendicitis. On June 7, 2010, the Company disclosed there was “unexplained variability” in the test results of its most recent clinical trial for AppyScore. Then, on July 19, 2010, the Company disclosed more details showing that the AppyScore was not effective at detecting appendicitis because, among other things, the test could not differentiate between appendicitis and other medical conditions. This adverse news caused the Company’s stock to drop substantially and investors have suffered significant losses.

As a result of these allegations, the Rosen Law Firm is preparing a class action lawsuit on behalf of investors who suffered losses purchasing AspenBio stock.

You may access the website at http://www.rosenlegal.com to participate in the proposed class action.

If you purchased AspenBio securities and would like further information concerning your legal rights or your ability to recover your investment losses, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com or visit the website at www.rosenlegal.com

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

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Copyright Business Wire 2010