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.
The company hopes to use proceeds from the stock offering to support the commercial launch of its Digital Spatial Profiling platform next year.
The partners will use NanoString's PanCancer panel in NCI-sponsored trials to characterize immune activity and develop potentially predictive gene signatures.
Though the Dow, the Nasdaq, and the Nasdaq Biotechnology Index all rose in May, they were outperformed by the GenomeWeb Index.
The company is expecting that existing users from its technology access program are likely to purchase instruments when they become available later this year.
The company's total revenues were $23.1 million, supported by growth across the firm's instrument and consumables sales, and its research collaboration business.
Positive first quarter earnings reports lifted many stocks of life science tools firms even as the broader biotechnology market suffered.
The five CROs will be able to offer DSP analyses to their customers through a technology access program ahead of NanoString's planned platform launch in 2019.
The decline matched the struggles of the broader stock market, though bright spots could be found with GenMark, Quidel, and NanoString all having good months.
In a recent study, Mills and his colleagues determined the platform has suitable throughput, quantitative performance, and reproducibility for the clinic.
Sometimes genetic tests give inconclusive results and provide little reassurance to patients, the Associated Press reports.
Vox wonders whether gene-editing crops will be viewed similarly as genetically modified organisms of if people will give them a try.
In Science this week: research regulation and reporting requirement reform, and more.
With H3Africa, Charles Rotimi has been working to bolster the representation of African participants and African researchers in genomics, Newsweek reports.