In a note, Cowen analyst Doug Schenkel said the company has had trouble meeting its targets and suggested it pursue a strategic sale of its nCounter platform.
The firm estimated that its total revenue in the quarter was $25.9 million to $26.9 million with only $16.9 million coming from products and services.
Their study suggests that commercial IHC assays for PD-L1 can yield compatible and transferrable results if handled appropriately.
The biggest losers following the release of the preliminary PAMA rates may be Quest and LabCorp, analysts said today.
The company said that more than 95 percent of eligible early-stage breast cancer patients can now have the test paid by insurance.
The shelf registration follows a recent $56.5 million financing and comes amid an expansion of the firm's commercial operations.
NanoString Technologies this week provided investors with a mixed bag of news as it released its second quarter earnings and financial outlook for the rest of the year.
NanoString also beat analyst estimates on the top and bottom lines, and upped its revenue guidance for the year based primarily on collaboration revenues.
New data now suggests that evaluating PD-L2 levels might better predict response to PD-1 targeting immune-oncology drugs than current tests that only measure PD-L1.