Skip to main content
Premium Trial:

Request an Annual Quote

Rosetta Genomics' H1 2012 Revenues Slide 14 Percent

NEW YORK (GenomeWeb News) – Rosetta Genomics' first-half 2012 revenues saw a 14 percent drop year over year, the company reported after the close of the market on Friday.

During the first six months of the year, the Israel-based molecular diagnostics firm reported $51,000 in revenues, down from $59,000 a year ago.

Its R&D expenses were sliced to $740,000 from $1.9 million in H1 2011, while SG&A costs were lowered to $2.5 million $2.6 million.

The loss from continuing operations rose to $6.6 million, or $5.35 per share, from a loss of $3.7 million, or $8.34 per share, a year ago. The company used more than 1.2 million shares to calculate its loss-per-share figure for the currently completed period, compared to 448,448 shares in the year-ago period.

In June, the company raised $6 million in a direct offering, bringing it in compliance with a Nasdaq listing requirement calling for a minimum of $2.5 million in stockholder equity.
It began the year by raising $1.75 million in a private placement.

The company also achieved compliance with another listing requirement of a closing bid price on its stock of at least $1 during the half-year, and in the spring it received a positive Medicare coverage decision for its miRview mets2 assay.

Rosetta Genomics ended the first six months of the year with $6.5 million in cash and cash equivalents. In August, it raised $31.6 million in gross proceeds from a public offering.

The Scan

Fertility Fraud Found

Consumer genetic testing has uncovered cases of fertility fraud that are leading to lawsuits, according to USA Today.

Ties Between Vigorous Exercise, ALS in Genetically At-Risk People

Regular strenuous exercise could contribute to motor neuron disease development among those already at genetic risk, Sky News reports.

Test Warning

The Guardian writes that the US regulators have warned against using a rapid COVID-19 test that is a key part of mass testing in the UK.

Science Papers Examine Feedback Mechanism Affecting Xist, Continuous Health Monitoring for Precision Medicine

In Science this week: analysis of cis confinement of the X-inactive specific transcript, and more.