Diagnostic systems provider NanoString Technologies sets terms for $76 million IPO

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NanoString Technologies, which develops, manufactures and sells diagnostic systems for the analysis of genomic information, announced terms for its IPO on Thursday. The Seattle, WA-based company plans to raise $76 million by offering 5.4 million shares at a price range of $13 to $15. At the midpoint of the proposed range, NanoString Technologies would command a fully diluted market value of $227 million.

NanoString Technologies, which was founded in 2003 and booked $24 million in sales for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol NSTG. NanoString Technologies initially filed confidentially in November 2012. J.P. Morgan and Morgan Stanley are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: News Headlines , IPOs


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