This is somewhat sad that the funds are not rolling in here, thus the sale of the their lab. Back a few months ago I had the opportunity to interview Ronen Tamir, Chief Commercialization Officer from Rosetta after the recent purchase. You can read more at the link below, and I don’t think this type of testing will go away soon as they were able to detect cancer of the unknown primary with lung cancer tumors, offering an answer for many who suffer with lung tumors, but in fact it was cancer that originated from another part of the body, i.e. liver cancer. This is important as it helps target specific treatment plans relative to the pinpointed type of cancer as some drugs work better with certain types of cancers than others.
We talked about the lab and it’s advantageous geographic location, the lab will continue to provide the analysis process, which is good. The company has agreements and works with Johns Hopkins and the M.D. Cancer Centers. The company has an extensive data base of microRNA profiles that was started back in the year 2000. BD
NEW YORK (GenomeWeb News) – Rosetta Genomics today reported that it cut its first-quarter net loss 8 percent and has sold its Parkway Clinical Laboratories business for $2.5 million, despite having purchased the lab just last year for $2.9 million.
The Rehovot, Israel-based miRNA diagnostics maker brought in total revenues of $654,000 for the three-month period ended March 31, compared to no revenues for the first quarter of 2008. The firm noted that the revenue related primarily to the business of Parkway.
Its net loss for the quarter declined to $3.6 million, or $.30 per share, from $3.9 million, or $.33 per share.