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Nanosphere Shares Fall for Second Straight Day

NEW YORK (GenomeWeb News) – Shares of Nanosphere were down 6.1 percent at $9.09 in Monday afternoon trading on the Nasdaq, marking the second day in a row that its stock tumbled since it reported a 62 percent decrease in second-quarter revenues last week.
The Northbrook, Ill.-based molecular diagnostics firm reported last Thursday that its second-quarter revenue dropped to $195,000 from $510,000 in the second quarter of 2007. The firm also said that its net loss grew 17 percent year over year.
In Friday trade, Nanosphere’s stock fell 14.6 percent to close at $9.68.
The firm’s stock is trading well off a 52-week high of $22.04, which was reached in November 2007. Its 52-week low is $6.62, which it hit on May 5.

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