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NanoString Technologies hopes to use proceeds from the stock offering to support the commercial launch of its Digital Spatial Profiling platform next year.
The company's total revenues were $23.1 million, supported by growth across the firm's instrument and consumables sales, and its research collaboration business.
In a recent study, Mills and his colleagues determined the platform has suitable throughput, quantitative performance, and reproducibility for the clinic.
The company aims to shore up its core nCounter platform business with new consumables, as it continues to work on new technologies and explore clinical translation.
The company's total revenues were $35.2 million during the quarter compared to $25.2 million during the same period in 2016. Full-year results also beat analyst estimates.
With multiple independent biomarkers, and potential combinations that may require even more subtyping, diagnostics to guide immunotherapy appears to be getting more complicated.
An analysis of several multigene breast cancer recurrence signatures suggests that some tests may be better than others at assessing risk of late distant recurrence.
Although a draft guidance last month recommended against use of molecular tests to guide chemotherapy, the group's finalized decision is subject to price negotiation and other adjustments.
The two companies are entering a partnership to introduce diagnostic tests using NanoString's nCounter technology in Japan, beginning with a lymphoma assay.
Clearbridge subsidiary SAM Laboratory will be the exclusive provider of NanoString's Prosigna breast cancer prognostic gene signature assay in certain countries.