NEW YORK (GenomeWeb) – Rosetta Genomics today said that it plans to redirect "substantially all of our sales and marketing resources" to promote is RosettaGx Reveal test, following a preliminary 54 percent quarter over quarter growth in sales of the microRNA-based assay for classifying indeterminate thyroid nodules.
The company said that preliminary sales of the test rose to $600,000 in the first quarter from $389,000 in the fourth quarter of 2016. Saying Reveal represents "significant long-term revenue opportunity," Rosetta Genomics President and CEO Kenneth Berlin added that redirecting the company's sales and marketing efforts to the test "offers the quickest, most efficient path to profitability," for the firm.
"Consequently, we are realigning our strategy and reallocating resources to create a core focus on the commercialization of Reveal in the US," he said. The changed focus includes increasing the sales force for Reveal; publishing additional clinical data in support of the test; expanding Rosetta's Philadelphia laboratory operations to meet expected increased demand; and strengthening the company's billing and reimbursement operations for Reveal.
Rosetta also said that it is exploring strategic alternatives for its PersonalizeDx business, which the firm acquired two years ago.
Berlin said that it bought PersonalizeDx expecting product synergies and the leveraging of customers. "While this strategic rationale continues to remain solid, we believe the impact of investing and focusing our capital resources on Reveal will create more value over the next several years," he said.
Efforts on increasing sales of Reveal will focus on the US, but Rosetta also plans to expand its global reach through regional distribution agreements.
For full-year 2017, Rosetta reiterated its 2017 revenue guidance for Reveal sales of $4 million to $5 million, with 2,500 to 3,500 tests processed.