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NanoString sinks after IPO

This article was originally published in Clinica

Executive Summary

NanoString Technologies saw its stock close at $8.06 per share on 26 June – 19.4% below its already discounted IPO price. NanoString, a molecular diagnostics specialist, planned to raise $86.3 million and set a $13-15 price range for 5.4 million shares (www.clinica.co.uk, 4 June 2013) before ultimately launching its IPO at $10 for gross proceeds of $54 million. The Seattle, Washington-based company's breast cancer test Prosigna is available in the EU and Israel, but is not approved in the US.

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