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NanoString Files $100M Shelf Registration

NEW YORK (GenomeWeb) – NanoString Technologies today filed a $100 million shelf registration with the US Securities and Exchange Commission.

The Seattle-based molecular diagnostics and genetic analysis products firm said in the filing that it may from time to time offer common stock, preferred stock, depositary shares, warrants, and debt securities under the shelf registration. It said that proceeds from such offerings would be used for general corporate purposes, which may include working capital, capital expenditures, or acquisitions of complementary products, technologies, or businesses.

Earlier this year, NanoString launched its Prosigna Breast Cancer Prognostic Gene Signature Assay services. The assay runs on NanoString's nCounter Dx Analysis System and is based on the PAM50 gene signature. It assesses the gene expression profile of cells found in a woman's breast cancer tissue.

The firm recently reported that its second quarter revenues increased more than 50 percent year over year, driven by sales of the nCounter System.

As of June 30, NanoString held $21.2 million in cash and cash equivalents and $58.4 million in short-term investments.

According to the shelf registration, as of that same date it had 18,101,051 shares of common stock outstanding.

In Friday morning trade on the Nasdaq, shares of NanoString were up nearly 2 percent at $11.39.