Rosetta acquired PersonalizeDx, which sells fluorescence in situ hybridization-based cancer tests, in early 2015.
The deal covers RosettaGX Reveal, a microRNA-based assay used to classify indeterminate thyroid nodules.
The New York State Department of Health had previously provided conditional approval of the microRNA classifier for diagnosing indeterminate thyroid cancer cases.
After a 54 percent quarter over quarter rise in sales of the test, Rosetta's CEO said that the realigned strategy will take the firm to profit more quickly.
The decline reflects the absence of $1.6 million in non-recurring licensing revenue the company received in the year-ago quarter.
The move is designed to help Rosetta regain compliance with the Nasdaq's $1 minimum bid requirement for continued listing.
The company sold shares, convertible debentures, and warrants to an institutional investor as part of a previously announced deal.
The test is designed to analyze the expression of microRNA biomarkers in indeterminate thyroid fine needle aspirate smears in order to differentiate benign thyroid nodules from malignant ones.
Rosetta's test is designed to analyze the expression of microRNA biomarkers in indeterminate thyroid fine needle aspirate smears to differentiate benign thyroid nodules from malignant ones.