WARREN, N.J., Aug. 13, 2015 /PRNewswire/ -- Roka Bioscience, Inc. (NASDAQ: ROKA), a molecular diagnostics company focused on providing advanced testing solutions for the detection of foodborne pathogens, today reported its financial results for the quarter and six months ended June 30, 2015.
Second Quarter Financial Results:
Revenue for the quarter ended June 30, 2015 was $1.5 million compared with $1.4 million for the second quarter of 2014 and $1.5 million for the first quarter of 2015. As of June 30, 2015, the Company had 41 instruments placed with customers under commercial agreements compared to 36 instruments as of June 30, 2014 and 41 instruments as of March 31, 2015.
Total operating expenses for the second quarter of 2015 were $10.0 million compared with $8.4 million in the second quarter of 2014. Net loss for the second quarter of 2015 was $9.2 million, or $0.54 per share, compared with a net loss of $7.3 million, or $11.28 per share, in the second quarter of 2014. In July 2014, upon completion of the Company's IPO, all shares of Convertible Preferred Stock were converted into common stock at their respective conversion ratio. All potential Common Stock shares issuable for Convertible Preferred Stock were excluded from the calculation of net loss per share in the second quarter and six months ended June 30, 2014 as the effect of including them would have been anti-dilutive.
As of June 30, 2015, the Company had cash and cash equivalents and marketable securities of $43.8 million compared with $57.1 million at December 31, 2014.
Six Month Financial Results:
Revenue for the six months ended June 30, 2015 was $3.0 million compared with $2.2 million for the six months ended June 30, 2014. Total operating expenses for the six months ended June 30, 2015 were $19.9 million compared with $16.6 million in the six months ended June 30, 2014. Net loss for the six months ended June 30, 2015 was $18.1 million, or $1.05 per share, compared with a net loss of $15.7 million, or $24.88 per share, in the six months ended June 30, 2014.
Conference Call
Roka Bioscience will host a conference call today at 4:30 p.m. Eastern Time to discuss these results and answer questions. During the conference call, material information concerning the Company, its operations, strategies and prospects may be discussed. To listen to the conference call live, go to http://rokabio.investorroom.com/ or dial 1-888-347-1331 for domestic callers and 1-412-902-4277 for international callers. A replay of the conference call will be available after the completion of the call by dialing 1-877-344-7529 (domestic) and 1-412-317-0088 (international). The replay access code is 10069693. An online archive of the conference call will also be available at http://rokabio.investorroom.com/.
About Roka Bioscience
Roka Bioscience is a molecular diagnostics company focused on developing and commercializing advanced testing solutions for the food safety testing market. Our Atlas Detection Assays incorporate our advanced molecular technologies and are performed on our "sample-in, result-out" Atlas System that automates all aspects of molecular diagnostic testing on a single, integrated platform. The Atlas System and Detection Assays are designed to provide our customers with accurate and rapid test results with reduced labor costs and improved laboratory efficiencies. For more information, visit http://rokabio.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act, as amended (the "Exchange Act"). These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions. Any statements contained herein (including, without limitation, statements to the effect that we "believe", "expect", "anticipate", "plan" and similar expressions) that are not statements of historical fact should be considered forward-looking statements and should be read in conjunction with the Condensed Financial Statements included in this press release and the discussion below. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by these forward looking statements.
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