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Roka Bioscience Q4 Revenues Up 27 Percent

NEW YORK (GenomeWeb) – Roka Biosciences announced after the close of the market Thursday that its fourth quarter revenues rose nearly 27 percent year over year.

For the three-month period ended Dec. 31, Roka's revenues climbed to $1.9 million from $1.5 million the year before. Roka said that it had 53 of its Atlas molecular diagnostic systems placed with customers under commercial agreements as of the end of 2016, compared with 41 at the end of 2015.

The firm's Q4 net loss widened to $13.3 million from $10.0 million a year earlier. However, loss per share narrowed to $3.72 from $5.77 a year ago as the company had approximately 3.6 million shares outstanding at the end of 2016 compared with 1.7 million at the end of 2015.

R&D spending rose 11 percent to $2.1 million in the quarter from $1.9 million, while SG&A costs dropped 32 percent to $4.3 million from $6.3 million.

For the full year, Roka's revenues rose 20 percent to $7.2 million from $6.0 million.

The company's 2016 net loss widened to $38.5 million from $36.6 million. Loss per share for the year narrowed to $17.42 on 2.2 million shares outstanding from $21.18 on 1.7 million shares outstanding in 2015.

Roka's R&D costs in 2016 dipped 5 percent to $7.3 million from $7.7 million, as SG&A expenses fell 19 percent to $17.7 million from $21.8 million.

Roka ended 2016 with cash and cash equivalents totaling $8.8 million, and short-term marketable securities worth $16.0 million.

Roka’s shares rose 2 percent to $4.87 in Friday morning trading on the Nasdaq.