Rosetta Genomics

The company beat the consensus Wall Street estimate on the top line and guided to 2018 revenues of between $21 million and $22 million.

Akers Biosciences reported this week that its first quarter revenues dropped 55 percent year over year, as lower yields in the process of extracting antigens for its flagship test product led to lower production levels and backorders.

Rosetta had disclosed that it intended to file for bankruptcy after its merger with Genoptix was not completed as planned.

The merger, which was previously scuttled and later revived with Rosetta shareholder approval, was due to close on May 27.

Upon completion of the transaction, Rosetta will become a privately held subsidiary of Genoptix and its shares will cease to trade on the Nasdaq.

The deal comes as the firms try — for the second time — to close a merger that had previously failed to gain necessary approval from Rosetta shareholders.

Genoptix's $9 million bid for Rosetta comes just days after the companies' first merger agreement failed to secure shareholder approval.

Genoptix terminated the merger agreement after an insufficient number of Rosetta shareholders voted in favor of the deal.

Genoptix has also agreed to provide a $1.8 million secured bridge loan facility to fund Rosetta’s operations through the closing of the deal.