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Nanosphere Preliminary Q4 Revenues Up 48 Percent; FY 2015 Revenue Exceeds Guidance

NEW YORK (GenomeWeb) – Molecular diagnostics firm Nanosphere reported after the close of the market today record preliminary revenues for the fourth quarter and full-year 2015.

The company said revenue rose 48 percent year over year in Q4 to $6.8 million from $4.6 million in Q4 2014. Nanosphere also reported preliminary full-year 2015 revenues of $21 million, a 47 percent increase over $14.3 million in 2014 and above its 2015 revenue guidance of $18 million to $20 million.

In a statement, the company said the revenue growth was driven by an expanding customer base, which included 35 new placements in Q4 of its Verigene multiplexed molecular diagnostics platform.

"We believe these preliminary results validate our value proposition [and] competitive position in the market and represent a pivotal point in our growth as a leader in the molecular microbiology market," CEO Michael McGarrity said in a statement.

Q4 closes an up year for Nanosphere — the company reported a 41 percent year-over-year Q1 revenue jump in May, a 76 percent spike in Q2 revenue in August, and a 33 percent increase in Q3 revenue in November.

The company's shares closed nearly 2 percent down, but rose 38 percent to $.80 in after-hours trading on the Nasdaq.

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