NanoString will initially draw $60 million at close, which will net it approximately $8 million after repaying its existing debt with the investment firm.
Using samples from different points in patients' treatment, researchers employed a variety of tools, including NanoString's GeoMx DSP, to explore potential response markers.
The company is marketing the panel, which runs on NanoString Technologies' nCounter System, to chemical and cosmetics firms as a replacement for animal models.
The decline was in line with what the company preliminarily reported last month, reflecting much lower collaboration revenues than in the prior year period.
The company will offer 4 million shares of common stock at a price of $12.50 per share, with an option for underwriters to purchase up to an additional 600,000 shares.
NanoString Technologies hopes to use proceeds from the stock offering to support the commercial launch of its Digital Spatial Profiling platform next year.
