NEW YORK (GenomeWeb News) – Nanosphere said Friday that it will offer 15 million shares of its common stock in a public offering priced at $1.75 per share.

The Northbrook, Ill.-based molecular diagnostics company said that it expects to bring in net proceeds of around $24.1 million, or $27.7 million if the underwriters exercise their overallotment option of 2,250,000 shares in full. Funds from the offering will be used for general corporate purposes and working capital, Nanosphere said.

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