Product and service revenues were up 10 percent year over year to $22.4 million compared to $20.4 million in the year-ago quarter.
The partners will use the GeoMx Digital Spatial Profiler to identify new biomarkers in high-risk breast cancer and the nCounter to evaluate leukemia fusion testing.
Authors concluded that all three assays — Oncotype DX, EndoPredict, and Prosigna — met Canadian thresholds for cost-effectiveness and urged caution in considering the findings.
The researchers have used nCounter, an FDA-cleared platform from NanoString Technologies, to develop their gene expression assay for subtype classification.
The company reported total revenues of $27.7 million, with growth in its consumables business but a drop in instrument revenues from the prior year's first quarter.
NanoString said this week that it closed its previously announced underwritten public offering of 5.2 million shares of its common stock at $23 per share.
The company said it will offer 4.5 million shares for $23 per share and intends to use the net proceeds for working capital and general corporate purposes.
The company said it will offer 2.5 million shares, while stockholder Clarus Lifesciences will sell another 2 million shares in the offering.
Though the firm saw lower overall revenue, it increased its fourth quarter and full-year product and services revenue by 12 percent and 16 percent respectively.
The firm reported that it expects product and service revenue of approximately $23.5 million for the fourth quarter of last year and $83.5 million for full-year 2018.