Healthcare Equipment and Supplies
Company Overview of Roka Bioscience, Inc.
Roka Bioscience, Inc., a molecular diagnostics company, focuses on the development and commercialization of molecular assay technologies for the detection of foodborne pathogens in the United States. It provides Atlas instrument, a fully automated molecular diagnostic testing instrument to reduce labor costs and operator error in high-volume foodborne pathogen testing laboratories. The company also offers atlas detection assays that include molecular tests for Salmonella, Listeria, E. coli O157:H7, Shiga toxin- producing E.coli, and Listeria monocytogenes, as well as related consumable supplies. It serves food processors, third-party contract testing laboratories, and government regulatory a...
20 Independence Boulevard
Warren, NJ 07059
Founded in 2009
Key Executives for Roka Bioscience, Inc.
Founder, Chief Executive Officer, President and Director
Total Annual Compensation: $649.2K
Chief Commercial Officer and Senior Vice President
Total Annual Compensation: $377.0K
Total Annual Compensation: $394.1K
Compensation as of Fiscal Year 2015.
Roka Bioscience, Inc. Key Developments
Roka Bioscience, Inc. Presents at The MicroCap Conference, Oct-24-2016 02:30 PM
Sep 15 16
Roka Bioscience, Inc. Presents at The MicroCap Conference, Oct-24-2016 02:30 PM. Venue: Hotel Monaco Philadelphia, 433 Chestnut St, Philadelphia, PA 19106, United States.
Roka Bioscience Not Regained Compliance With Nasdaq Listing Rule 5450
Aug 26 16
On February 22, 2016, Roka Bioscience, Inc. (the "Company") received a written notice (the "February Notice”) from the Listing Qualifications department of The Nasdaq Stock Market indicating that the Company was not in compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5450(a)(1) for continued listing on the Nasdaq Global Market. The Nasdaq Listing Rules require listed securities to maintain a minimum bid price of $1.00 per share and, based upon the closing bid price of the Company’s common stock, par value $0.001 per share (the “Common Stock”) for the last 30 consecutive business days prior to the February Notice, the Company was not in compliance with this requirement. The February Notice indicated that the Company would be provided 180 calendar days in which to regain compliance. On August 23, 2016, the Company received a written notice (the “August Notice”) from the Listing Qualifications department of Nasdaq notifying it that the Company had not regained compliance with Listing Rule 5450(a)(1), and that unless the Company either requested an appeal of this determination in accordance with the procedures set forth in the Nasdaq Listing Rules 5800 Series or submitted an application to transfer its securities to the Nasdaq Capital Market, its Common Stock would be scheduled for delisting at the opening of trading on September 1, 2016. A hearing must be requested by August 30, 2016 and a request for a hearing would stay the suspension of the Company’s securities. Alternatively, the August Notice also stated that the Company was eligible for an additional 180 day period during which it could regain compliance. To qualify, the Company must submit an application to transfer its Common Stock to the Nasdaq Capital Market by August 30, 2016. In order to transfer, the Company must (i) meet the applicable market value of publicly held shares requirement for continued listing and all other applicable requirements for initial listing on the Nasdaq Capital Market (except for the bid price requirement) based on the Company's most recent public filings and market information and (ii) notify Nasdaq of its intent to cure this deficiency during the second compliance period by effecting a reverse stock split, if necessary. Should Nasdaq determine that the Company will not be able to cure the deficiency, or if the Company cannot make the required representations, its securities will be delisted from the Nasdaq Global Market. The Company has requested a hearing and this request for a hearing has automatically stayed the delisting of the Company's Common Stock pending the issuance of a determination by the hearings panel. In the event that the Company does not receive a favorable determination by the hearings panel, the Company will have to determine the steps necessary to maintain the trading of its Common Stock on the Nasdaq Stock Market, which steps could include effectuating a reverse stock split of its Common Stock in order to increase the share price above the $1.00 threshold. At the Company’s annual meeting of stockholders held on June 22, 2016, the Company’s stockholders approved an amendment to the Company's certificate of incorporation and granted discretionary authority to the Company’s Board of Directors to effect a reverse stock split of the Company’s outstanding Common Stock within a range of one share of Common Stock for every five shares of Common Stock to one share of Common Stock for every fifteen shares of Common Stock.
Roka Bioscience, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
Aug 5 16
Roka Bioscience, Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2016. Revenue $1.8 million compared with $1.5 million for the second quarter of 2015, and $1.6 million for the first quarter of 2016. The increase in second quarter revenue year-over-year resulted from an increase in the number of Atlas instruments placed with commercial customers and increased commercial utilization of the instruments. Net loss was $7.6 million, or $0.43 per share, compared with a net loss of $9.2 million, or $0.54 per share, in the second quarter of 2015. The primary driver of the reduced loss was the reduction in SG&A expense. The company reported loss from operations of $7,155,000 compared to $8,518,000 a year ago. Loss before income taxes was $7,559,000 against $9,236,000 a year ago. Cash burnt during the quarter was approximately $6.4 million.
Revenue for the six months ended June 30, 2016 was $3.5 million compared with $3.0 million for the six months ended June 30, 2015. Net loss was $15.7 million, or $0.90 per share, compared with a net loss of $18.1 million, or $1.05 per share, in the six months ended June 30, 2015. The company reported loss from operations of $14,915,000 compared to $16,911,000 a year ago. Loss before income taxes was $15,737,000 against $18,095,000 a year ago.
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