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NanoString Technologies 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.
The company aims to shore up its core nCounter platform business with new consumables, as it continues to work on new technologies and explore clinical translation.
The US has sent its formal notice of withdrawal from the World Health Organization, according to the Wall Street Journal.
Science reports that a draft spending bill would increase the US National Institutes of Health budget by 13 percent.
The Harvard Crimson reports that Harvard and MIT are suing the Department of Homeland Security and ICE over the new international student visa policy.
In Nucleic Acids Research this week: algorithm to determine molecular sequence types and other microbial features, computational method to uncover R-loop structures, and more.