The company attributed the drop to declines in sales of its urologic and solid tumor testing services as it focused on its new thyroid nodule assay.
The partners aim to identify a microRNA-based signature that can predict lung cancer patient response to Bristol-Myers Squibb's immunotherapy Opdivo.
The company faces potential delisting from the exchange for failure to meet its minimum bid price requirement.
Rosetta's test is designed to analyze the expression of microRNA biomarkers in indeterminate thyroid fine needle aspirate smears to differentiate benign thyroid nodules from malignant ones.
The revenue increase was driven by a rise in urologic cancer testing services, which helped offset a decline in solid tumor testing services.
The company said it is confident it can address the state health department's concerns and will reapply for approval as soon as possible.
The tests are performed at a CLIA-certified lab, but special licenses from the NY State Department of Health are required to offer the tests in the state.
With the conditional approval, Rosetta can now market its assays to test for key mutations in lung, colon, and melanoma cancers in New York State.
First quarter revenues jumped sharply as Rosetta benefitted from the urologic cancer testing services operations from PersonalizeDx.
The company posted a sharp increase in fourth quarter revenues, in part due to sales from the urologic testing services acquired with its PersonalizeDx buy.
In Science this week: metagenomic-based technique for determining protein structure, and more.
An academic laments the rise of narcissism in the sciences, the Guardian reports.
Outgoing FDA commissioner Robert Califf writes in an editorial that the agency can help boost innovation.
The Trump transition team has asked NIH Director Francis Collins to remain at his post, though it's unclear for how long that will be.