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Rosetta Genomics Reports Q4 Sales Growth for Thyroid Nodule Test

NEW YORK (GenomeWeb) – Rosetta Genomics today released preliminary fourth quarter financial results for its RosettaGX Reveal thyroid nodule assay, reporting a 38 percent increase in test sales over the third quarter.

For the three-month period ended Dec. 31, Reveal generated preliminary revenues of $390,000 versus $282,000 in the third quarter. During the fourth quarter, Rosetta received 423 orders for the test compared with 305 units received in the previous quarter.

Reveal revenue for 2016 was approximately $850,000, Rosetta said. The company expects the assay to generate revenues of $4 million to $5 million in 2017. It said that it expects to process between 2,500 and 3,500 Reveal units this year.

Reveal is designed to analyze the expression of microRNA biomarkers in indeterminate thyroid fine needle aspirate smears in order to differentiate benign thyroid nodules from malignant ones. Since Reveal's launch in the first quarter of 2016, Rosetta has focused a significant portion of its sales efforts on the test and views as a way to promote interest in its other diagnostic offerings.

"As we projected, the second half of 2016 saw much stronger unit and revenue growth as our high-performance results and convenience advantages are resonating with physicians and payors," he added. "Consequently, we plan to allocate more of the time of our sales team to the promotion of this novel thyroid nodule classifier, confident this allocation of resources will allow us to achieve our 2017 Reveal financial goals and maximize return on these investments."

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