Nanostring Technologies aims to price initial public offering of stock

Funds used to commercialize and expand clinical utility of Prosigna

By Devika Patel

Knoxville, Tenn., May 20 - Nanostring Technologies, Inc. will price an initial public offering of common stock with a greenshoe, according to a Form S-1 filed Monday with the Securities and Exchange Commission. The company expects its shares will trade on the Nasdaq under the symbol "NTSG."

J.P. Morgan, Morgan Stanley, Leerink Swann and Baird are assisting.

Proceeds will be used to commercialize Prosigna; expand the clinical utility of Prosigna and develop other diagnostic product opportunities; expand life sciences commercial operations to grow and support the installed base of the company's nCounter Analysis Systems; develop new life sciences applications, chemistry and instrumentation for the nCounter technology platform; and fund working capital and other general corporate purposes.

The Seattle company develops and sells products that unlock scientifically valuable and clinically actionable genomic information from minute amounts of tissue.

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