Skip to main content
Premium Trial:

Request an Annual Quote

NanoString Prices Public Offering at $18.50 Per Share

NEW YORK (GenomeWeb News) – NanoString Technologies has priced the follow-on public offering of its common stock at $18.50 per share.

The company announced the $55 million offering last week and launched it earlier this week. The bookrunning managers are JP Morgan and Morgan Stanley. The co-managers are Leerink Partners and RW Baird. NanoString has given the underwriters a 30-day option to purchase an additional $8.25 million of its common shares.

Net proceeds will be used to further commercialize the firm's Prosigna Breast Cancer Prognostic Gene Signature Assay, including the creation of a dedicated oncology sales force and expansion of the clinical utility of the test, as well as development of additional diagnostic products.

Also, NanoString plans to fund expansion of its life sciences commercial operations to grow and support the installed base of its nCounter Analysis Systems and to develop new life sciences applications, chemistry, and instrumentation for the platform. Proceeds will also be used for general corporate purposes.