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Rosetta Posts Q4 Loss on Higher Expenses

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Rosetta Genomics this week reported its fourth-quarter financial results, posting a net loss on increased expenses.

In the quarter, the company's net loss was $4.1 million, or $0.29 per share, compared with a profit of $2 million, or $0.17 per share, in the same period a year earlier.

Revenues in the three-month period ended Dec. 31 were $119,000, compared with zero revenues in the year-ago quarter.

Marketing and business expenses, meanwhile, jumped to $1.3 million from $713,000, as general and administrative costs surged to $1.2 million from $773,000.

Research and development spending in the fourth quarter fell, however, to $1.7 million from $2.1 million, primarily due to a reduction in headcount associated with a narrowing of the company's focus (see RNAi News, 12/31/2009).

At the end of 2009, Rosetta had cash, cash equivalents, short-term bank deposits, and marketable securities totaling $10.3 million.

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