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NanoString

The agreement amends and restates an existing loan and security agreement between NanoString and SVB to increase the size of the revolving loan facility to $20 million.

The company beat Wall Street estimates, and officials said momentum is building as the firm readies its GeoMx digital spatial profiling technology for launch.

The company aims to commercialize ProstaGene's PCaTest, which uses a 16-gene panel to determine the overall outcome of a patient's prostate cancer.

NanoString will initially draw $60 million at close, which will net it approximately $8 million after repaying its existing debt with the investment firm.

The new additions reflect data published this summer in the TAILORx trial, which speak to the chemopredictive ability of Genomic Health's Oncotype DX.

The blood-based test, called Melaseq, measures 38 circulating microRNAs that regulate processes that melanoma cells undergo as they become malignant.

The decline was in line with what the company preliminarily reported last month, reflecting much lower collaboration revenues than in the prior year period.

The company hopes to use proceeds from the stock offering to support the commercial launch of its Digital Spatial Profiling platform next year.

The company will offer 4 million shares of common stock at a price of $12.50 per share, with an option for underwriters to purchase up to an additional 600,000 shares.

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