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Rosetta Posts Lower Q1 Losses on Decreased Costs

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Rosetta Genomics last week reported a drop in its first-quarter loss as it trimmed business costs and research and development spending.

For the three-month period ended March 30, the company's net loss fell to $1.7 million, or $0.07 per share, from a year-ago loss of $3.7 million, or $0.23 per share.

R&D expenses in the quarter shrank to $1 million from $1.6 million in the same period a year earlier, while marketing and business costs dropped to $625,000 from $1.2 million.

General and administrative expenses increased slightly, to $815,000 from $729,000, while revenues climbed to $37,000 from $27,000.

At the end of the first quarter, Rosetta had cash and cash equivalents totaling $5 million.