Roka Bioscience reports revenue of $1.5 million for third quarter 2015

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 nine months ended September 30, 2015.

Third Quarter 2015 Financial Results:

Revenue for the quarter ended September 30, 2015 was $1.5 million compared with $1.5 million for the third quarter of 2014 and $1.5 million for the second quarter of 2015. As of September 30, 2015, the Company had 39 instruments placed with customers under commercial agreements compared to 36 instruments as of September 30, 2014 and 41 instruments as of June 30, 2015.

Total operating expenses for the third quarter of 2015 were $9.6 million compared with $9.9 million in the third quarter of 2014. Net loss for the third quarter of 2015 was $8.5 million, or $0.49 per share, compared with a net loss of $9.1 million, or $0.64 per share, in the third 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. The calculation of net loss per share in 2014 prior to the completion of the IPO excludes all potential Common shares issuable for Convertible Preferred Stock because the effect of including them would have been anti-dilutive.

As of September 30, 2015, the Company had cash and cash equivalents and marketable securities of $37.9 million compared with $57.1 million at December 31, 2014.

Nine Month Financial Results:
Revenue for the nine months ended September 30, 2015 was $4.5 million compared with $3.7 million for the nine months ended September 30, 2014. Total operating expenses for the nine months ended September 30, 2015 were $29.5 million compared with $26.4 million in the nine months ended September 30, 2014. Net loss for the nine months ended September 30, 2015 was $26.6 million, or $1.54 per share, compared with a net loss of $24.8 million, or $4.78 per share, in the nine months ended September 30, 2014.