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NanoString Reports Expected 2015 Revenue Growth

NEW YORK (GenomeWeb) – NanoString Technologies yesterday reported preliminary fourth quarter and full-year 2015 financial results, with total revenues increasing about 40 percent and 30 percent, respectively.

Seattle-based NanoString projected total Q4 revenue of $21.1 million to $22.1 million, an increase of 35 percent to 42 percent over the prior year period. It also expects full-year revenues of $61.5 million to $62.5 million, an increase of 29 percent to 31 percent over fiscal year 2014, and within the firm's guidance of $60 million to $63 million.

"We are pleased with our fourth quarter performance which delivered record revenues and strong growth across instruments, consumables, and collaborations," NanoString President and CEO Brad Gray said in a statement.

Investors responded positively to the news, sending shares of NanoString up more than 7 percent to $12.81 in morning trading on the Nasdaq.

As of Dec. 31, the firm reported cash, cash equivalents, and short-term investments of approximately $48 million.