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NanoString Technologies Inc prices follow-on offering

Thursday, 23 Jan 2014 06:30pm EST 

NanoString Technologies Inc:Says the pricing of its follow-on public offering of $55 mln of its common stock at a price to the public of $18.50 per share.Says in addition, the company has granted the underwriters a 30-day option to purchase up to an additional $8.25 mln of its common stock.Says it intends to use the net proceeds from this offering: to further commercialize its ProsignaTM Breast Cancer Prognostic Gene Signature Assay, including establishing a dedicated oncology sales force;.to expand the clinical utility of Prosigna and develop other potential diagnostic product opportunities;.to expand life sciences commercial operations to grow and support the installed base of its nCounter Analysis Systems among life sciences research customers;.to develop new life sciences applications, chemistry and instrumentation for its nCounter technology platform;.and for working capital and other general corporate purposes.Says it may also use a portion of the net proceeds to acquire, license and invest in complementary products, technologies or businesses; however, it currently has no agreements or commitments to complete any such transaction.Says the bookrunning managers of the offering are J. P. Morgan and Morgan Stanley, and the co-managers are Leerink Partners and Robert W. Baird & Co. Incorporated. 

Company Quote

29 Oct 2014