Rosetta Genomics

The company also disclosed that the previously announced sale of its PersonalizeDx business has been delayed after the buyer failed to complete the transaction.

Rosetta entered into a definitive agreement with an institutional healthcare investor for a $2 million private placement.

Rosetta acquired PersonalizeDx and its range of molecular diagnostic offerings in early 2015 for $2 million in cash plus stock.

The company said the layoffs are part of a cost-reduction plan that aims to initially cut annual operating expenses by $1.7 million.

The company priced its offering at $1.40 per unit and said it intends to use the proceeds for operations and for other general corporate purposes.

The partners aim to identify microRNAs that can be used to identify patients likely to respond to PD-L1-targeting cancer drugs.

Rosetta acquired PersonalizeDx, which sells fluorescence in situ hybridization-based cancer tests, in early 2015.

The deal covers RosettaGX Reveal, a microRNA-based assay used to classify indeterminate thyroid nodules.

The New York State Department of Health had previously provided conditional approval of the microRNA classifier for diagnosing indeterminate thyroid cancer cases.

After a 54 percent quarter over quarter rise in sales of the test, Rosetta's CEO said that the realigned strategy will take the firm to profit more quickly. 

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The US Food and Drug Administration has approved Kite Pharmaceuticals' CAR T-cell therapy for large B-cell lymphomas, the New York Times reports.

Kaiser Health News reports that gene therapies could cost more than a million dollars.

Worcester Polytechnic Institute researchers have received a grant to combine biology and computer science for high school students.

In Nature this week: variants associated with obsessive-compulsive disorder, review of key CRISPR enzymes, and more.