Baird served as lead manager on the offering
AboutNanoString Technologies, Inc. (“NanoString” or the “Company”) (NASDAQ:NSTG) recently completed an underwritten public offering of 5,175,000 shares of its common stock at a price to the public of $23.00 per share pursuant to its shelf registration statement. NanoString sold 3,175,000 shares of common stock, which includes the exercise in full by the underwriters of their option to purchase an additional 675,000 shares of common stock, and Clarus Lifesciences II, L.P., a stockholder of NanoString, sold 2,000,000 shares of common stock. Net proceeds to NanoString from the offering were approximately $68.3 million after deducting underwriting discounts and the estimated expenses of the offering. NanoString intends to use the net proceeds of the offering for working capital and general corporate purposes. NanoString will not receive any proceeds from the sale of shares of common stock by the selling stockholder.
NanoString provides life science tools for translational research and molecular diagnostic products. The Company's nCounter® Analysis System has been employed in life sciences research since it was first introduced in 2008 and has been cited in more than 2,300 peer-reviewed publications. The nCounter Analysis System offers a cost-effective way to easily profile the expression of hundreds of genes, proteins, miRNAs, or copy number variations, simultaneously with high sensitivity and precision, facilitating a wide variety of basic research and translational medicine applications, including biomarker discovery and validation. The Company's technology is also being used in diagnostics. The Prosigna® Breast Cancer Prognostic Gene Signature Assay together with the nCounter Dx Analysis System is FDA 510(k) cleared for use as a prognostic indicator for distant recurrence of breast cancer. In addition, the Company collaborates with biopharmaceutical companies in the development of companion diagnostic tests for various cancer therapies, helping to realize the promise of precision oncology. NanoString is headquartered in Seattle, Washington.
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- March 2019
- NanoString Technologies, Inc.
- Target Location
- North America