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Rosetta Posts Increased Revenues, Losses for 2014

NEW YORK (GenomeWeb) – Rosetta Genomics reported today after the close of the market a 228 percent jump in 2014 revenues, derived primarily from the sale of its microRNA-based diagnostics.

The company's revenues from continuing operations jumped to $1.3 million last year from $405,000 the year before.

Rosetta's net loss after discontinued operations was $14.5 million, or $1.29 a share on 11.2 million shares outstanding, versus $12.9 million, or $1.34 a share, on 9.6 million shares outstanding, in 2013.

On a non-GAAP basis, Rosetta's net loss for 2014 was $13.6 million, or $1.21 a share, compared with $12 million, or $1.25 per share, a year earlier.

Rosetta's research and development costs edged up to $1.9 million in 2014 from $1.7 million the year before. Its SG&A costs, meantime, rose to $12.3 million from $11.3 million.

As of December 31, 2014, Rosetta had cash and cash equivalents totaling $7.9 million, versus $16.8 million at the end of 2013.