Rosetta Genomics Files Pro Forma Financials in Connection with PersonalizeDx Acquisition
July 08 2015 - 5:38PM
Business Wire
Affirms 2015 Pro Forma Full-Year Revenue
Guidance of $10 Million to $12 Million
Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and
provider of microRNA-based and other molecular diagnostics, reports
that in connection with its April 2015 acquisition of CynoGen, Inc.
(d/b/a PersonalizeDx), it has filed the audited financial
statements of PersonalizeDx (PDX) as of and for the years ended
December 31, 2014 and 2013 and pro forma financial information as
of and for the year ended December 31, 2014, with the U.S.
Securities and Exchange Commission. The filing on Form 6-K can be
accessed at www.sec.gov and on the Company’s website at
www.rosettagenomics.com.
"Completing the pro forma financials is an important part of
integrating the PDX business into Rosetta,” stated Kenneth A.
Berlin, President and Chief Executive Officer of Rosetta Genomics.
“PDX is an excellent strategic and cultural fit that enhances and
expands our commercial and revenue scale in the marketplace for
oncology diagnostics. With the addition of the numerous assays from
PDX, we are now positioned to be a leading company in both the
broad, solid tumor diagnostics space by offering a complete suite
of assays consisting of targeted NGS mutational analysis,
best-in-class tumor origin confirmation/identification and
best-in-class FISH and other testing for relevant tumor types, and
the urologic cancer space with a broad offering of assays covering
prostate, bladder and kidney cancer.”
In the filings made today, revenues for PDX in 2014 were $6.55
million, which were nearly 4-times the revenues of $1.652 million
for PDX in 2013. In addition, Rosetta Genomics reported pro forma
revenue for the year ended December 31, 2014 of $7.88 million.
Rosetta Genomics affirms its 2015 pro forma full-year revenue
projection of between $10 million to $12 million.
In addition, the Company reports that it plans to file its
financial results for the six months ended June 30, 2015 within the
allotted 90-day timeframe required for foreign filers. Thereafter,
Rosetta Genomics expects to report its financial results on a
quarterly basis starting with the three and nine months ending
September 30, 2015.
About Rosetta Genomics
Rosetta develops and commercializes a full range of
microRNA-based and other molecular diagnostics. Rosetta’s
integrative research platform combining bioinformatics and
state-of-the-art laboratory processes has led to the discovery of
hundreds of biologically validated novel human microRNAs. Building
on its strong patent position and proprietary platform
technologies, Rosetta is working on the application of these
technologies in the development and commercialization of a full
range of microRNA-based diagnostic tools. Through the acquisition
of PersonalizeDx, the Company offers core FISH, IHC and PCR-based
testing capabilities and partnerships in oncology and urology that
provide additional content and platforms that complement the
Rosetta offerings. Rosetta’s and PersonalizeDx’s cancer testing
services are commercially available through the Philadelphia, PA-
and Lake Forest, CA-based CAP-accredited, CLIA-certified labs,
respectively. For more information visit
www.rosettagenomics.com.
Forward-Looking Statement Disclaimer
Various statements in this release concerning Rosetta’s future
expectations, plans and prospects constitute forward-looking
statements for the purposes of the safe harbor provisions under The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by these forward-looking
statements as a result of various important factors, including
those risks more fully discussed in the "Risk Factors" section of
Rosetta’s Annual Report on Form 20-F for the year ended December
31, 2014 as filed with the SEC. In addition, any
forward-looking statements represent Rosetta’s views only as of the
date of this release and should not be relied upon as representing
its views as of any subsequent date. Rosetta does not assume any
obligation to update any forward-looking statements unless required
by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20150708006436/en/
Company Contacts:Rosetta GenomicsKen Berlin, President
& CEO(609) 419-9003investors@rosettagenomics.comorInvestor
Contacts:LHAAnne Marie Fields(212)
838-3777afields@lhai.comorBruce Voss(310)
691-7100bvoss@lhai.com
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