Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG)
Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) has announced the financial results for the first quarter of 2017 and the last financial year ended December 31, 2016. Rosetta Genomics is a genomic diagnostics company that specializes in improving treatment decisions by offering physicians with accurate and timely data.
Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) reported $2.0 million in revenue during the fourth quarter of 2016, a figure similar to what was reported during the same time the previous financial year. The total revenue for the fourth quarter of 2015 however stood at $3.6 million due to addition of $1.6 worth of licensing revenue. The fourth quarter of 2016 reported $1.1 million in revenue generated from urologic cancer testing services compared to $1.2 million reported in the same period the previous year.
Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) generated $404,000 in revenue from solid tumor testing services, a drop from $726,000 reported in the fourth year of the 2015 financial year. This represents 20% of the total clinical testing revenues generated in the fourth quarter of 2016. There was $389,000 in reveal revenue during the fourth quarter of 2016 representing a 38% increase from the$282,000 reported the third quarter of the same year.
Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) generated $156,000 in revenue from Hematological FISH testing (HEME FISH). HEME FISH is a new business line that was introduced in 2016. HEME FISH revenue represents 8% of the total revenue from of clinical testing generated in the fourth quarter of 2016.
The company also reported $1.2 million in gross billings for Reveal on a non-GAAP basis. This is an increase of 34% from the $930,000 reported in the third quarter of 2016.
The fourth quarter cost revenue went up to $2.0 million from the $1.8 million reported in the fourth quarter of the 2015 financial year. The increase is attributed to an increase in headcount at the company’s Philadelphia facility as well as good timing of procurements for some lad reagents and supplies.
Expenses from research and development for the fourth quarter of 2016 amounted to $818,000 from the $1.0 million reported in the fourth quarter of 2015. Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) incurred $1.5 million in the fourth quarter of 2016 in sales, marketing as well as development expenses representing a decrease from the $1.6 million reported in the fourth quarter of 2015.
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About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.