Molecular diagnostics company Rosetta Genomics recently expanded its executive team with the appointments of E. Robert Wassman, M.D., and Dganit Bar, Ph.D., for the newly created positions of chief medical officer and chief scientific officer, respectively. The Drs. will assume their new positions on October 22, 2012.
The executive additions are part of the company's growth strategy to commercialize its current, clinically focused assays, as well as plans to introduce new assays to the marketplace. This plan is leveraged by several rounds of equity offerings, which have enabled the company to revive several of its pipeline programs that were tabled in a season of financial discord in 2011.
The company recently released its financial results for the first half of 2012, reflecting a strengthened financial position that led to the commercial launch of its flagship product, miRview® mets, for the identification of the primary origin of 42 different types of tumors.
Rosetta released the product in the U.S. with eventual plans to add to its in-house sales team for further market penetration. Rosetta acknowledges that while breaking into this specific area of the diagnostic market can be tricky, even shallow market penetration is expected to drive weighty sales and margins.
For the six months ended June 30, 2012, Rosetta reported a narrowed net loss of $5.35 a share vs. a net loss of $8.34 per share in the comparable year-ago period. Revenues for the first half of 2012 held steady at $51,000 compared to the comparable six months of 2011.
For more information visit www.rosettagenomics.com
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