Rosetta Genomics Reports Increased Revenues for 2013

Rosetta Genomics Ltd. (NASDAQ:ROSG), a leading developer and provider of microRNA-based molecular diagnostics and therapeutics, today released financial results for the year ended December 31, 2013, reporting that gross billings more than doubled from $490,000 in 2012 to $1.1 million in 2013. Furthermore, Rosetta Genomics enhanced awareness for the Rosetta Cancer Origin Test™ to gain a 100% increase in revenues from 2012.

As of December 31, 2013, Rosetta Genomics had $24.5 million in cash and cash equivalents, restricted cash and short-term bank deposits, compared with $31.0 million as of December 31, 2012. The Company used approximately $12 million in cash to fund operations in 2013. The 2013 cash position included net proceeds of $4.8 million from the sale of 1.3 million ordinary shares through the previously announced Cantor Sales Agreement and $625,000 received from a settlement with Sanra Laboratories in connection with the previous sale of Parkway Clinical Laboratories by Rosetta Genomics to Sanra.

Rosetta Genomics CEO, Kenneth A. Berlin, said:

Investments in our commercial infrastructure are yielding results as evidenced by the significant increase in product revenues and billings in 2013. Moreover, we have seen continued growth in product demand for the Rosetta Cancer Origin Test, with first quarter 2014 billings of nearly $600,000 maintaining the momentum we saw in the fourth quarter of 2013.

We have a number of promising product candidates under development including our assay for indeterminate thyroid fine need aspirate, which is scheduled to launch next year, as well as assays for chronic kidney rejection, heart failure, Alzheimer’s disease and a therapeutic for cytomegalovirus (CMV) infection.

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