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First revenues for Genomics but bottom line widens

This article was originally published in Clinica

Executive Summary

Molecular diagnostics specialist Rosetta Genomics recorded its first revenues, after posting $705,000 of sales in the third quarter of 2008. The Rehovot, Israel-based company attributed the revenues to Parkway Clinical Laboratories, the microRNA-based tests business, which it purchased in June 2008 (see Clinica No 1312, p 17). However, these revenues were unable to prevent Rosetta from posting a wider net loss for the period. The firm’s bottom line widened to $3.0m compared to the loss of $2.2m it reported during the same period last year. Net loss was impacted by higher operating expenses.

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