NanoString Provides Preliminary Operational and Financial Results for Fourth Quarter and FY 2019

NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for translational research, today provided preliminary operational and financial results for the fourth quarter and fiscal year ended December 31, 2019.

"Last year was transformative for NanoString. The launch of the GeoMxa?? Digital Spatial Profiler (DSP) accelerated our growth, with product and service revenue increasing by 24% for the full year, and by 42% during the fourth quarter. Our strategic transaction to license our nCounterA® diagnostic business to Veracyte has sharpened our focus on GeoMx and other growth opportunities in our research markets,a?? said NanoString president and CEO, Brad Gray. "We expect this transformation to continue in 2020, as we enjoy our first full year of GeoMx revenue, and expand our addressable markets into discovery research through the launch of GeoMx compatibility with next-generation sequencers.a??

"We enter 2020 with a substantially strengthened financial profile,a?? said Tom Bailey, chief financial officer of NanoString. "With $157 million in cash and short-term investments, we have the resources to sustain our growth in 2020 and beyond.a??

Financial Highlights:

For the fourth quarter of 2019, product and service revenue is expected to be $33.6 million, an increase of 42% compared to the prior year period and exceeding the upper end of the companya??s guidance range of $30 to $32 million. This includes nCounter revenue of $25.2 million and GeoMx DSP revenue of $8.4 million, as compared to prior guidance for fourth quarter nCounter revenue of $24 to $26 million and prior guidance for fourth quarter GeoMx DSP revenue of $6 million.
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