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NanoString Technologies, Inc. (NASDAQ: NSTG) is a renowned provider of life science tools for translational research and molecular diagnostics. Established in 2008, NanoString's technology is pivotal in enabling a diverse array of basic research, translational medicine, and in vitro diagnostics applications. The company's flagship product, the nCounter® Analysis System, is celebrated for its ability to profile the expression of hundreds of genes, miRNAs, or copy number variations simultaneously with high sensitivity and precision. This system has been referenced in over 300 peer-reviewed publications, underscoring its widespread adoption and scientific credibility.
The nCounter® system's versatility extends to diagnostic use as the nCounter Dx Analysis System, further solidifying NanoString's footprint in the molecular diagnostics landscape. The technology stands out for its cost-effectiveness and efficiency, making it a valuable tool for applications such as biomarker discovery and validation, as well as other translational research endeavors.
Among recent developments, NanoString Technologies has been embroiled in significant litigation with 10x Genomics, Inc. Notably, the European Unified Patent Court (UPC) declined to issue a second preliminary injunction against NanoString, allowing the company to continue its operations in specific jurisdictions. However, injunctions from the Regional Court Munich I and the UPC still impose restrictions on the sale and service of NanoString's CosMx Spatial Molecular Imager (SMI) instruments and reagents for RNA detection in Europe.
The legal battles extend to the United States, where 10x Genomics has filed multiple suits against NanoString alleging patent infringement related to the GeoMx Digital Spatial Profiler and the CosMx SMI. Recently, a jury in the U.S. District Court for the District of Delaware awarded 10x Genomics over $31 million in damages, asserting that NanoString's GeoMx products willfully infringed on several patents.
Despite these legal challenges, NanoString continues to thrive as a leader in its field, providing essential tools that drive significant discoveries in oncology, immunology, neuroscience, and beyond. The company's commitment to advancing human health through molecular diagnostics and translational research tools remains unwavering.
NanoString Technologies (NASDAQ: NSTG) announced the commercial launch of its CosMx™ Spatial Molecular Imager (SMI) and AtoMx™ Spatial Informatics Platform (SIP). The CosMx SMI enables high-resolution imaging of over 1,000 RNA and 64 protein analytes, facilitating research in gene and protein expression at single-cell resolutions. AtoMx SIP, the first cloud-based data analysis suite for spatial biology, allows scalable data storage and analysis, enhancing research efficiency. With over 475 instruments ordered globally as of September 30, 2022, NanoString is positioned to advance the field of spatial biology.
NanoString Technologies (NASDAQ:NSTG) announced scheduled webcasts for two healthcare conferences. CEO Brad Gray will participate in a fireside chat during the Stifel 2022 Healthcare Conference on November 15 at 1:50pm ET. He will also present at the Jefferies London Healthcare Conference on November 17 at 3:15pm GMT. Interested parties can access the live webcasts via the investor section of www.nanostring.com.
NanoString Technologies (NASDAQ: NSTG) and Abcam (NASDAQ: ABCM) have expanded their collaboration, announcing a co-marketing agreement for Abcam's validated antibodies to be integrated into NanoString's CosMx Spatial Molecular Imager (SMI). This partnership will enhance spatial biology capabilities, offering the first 64-plex protein panel for high-plex spatial multiomics at single-cell resolution. The new human immuno-oncology panel will be presented at the 37th Annual Meeting of the Society of Immunotherapy of Cancer Conference on Nov. 10.
NanoString Technologies (NASDAQ:NSTG) reported Q3 2022 financial results, highlighting a product and service revenue of $29.5 million, with significant growth in spatial biology instruments. Orders for approximately 60 spatial biology systems marked a 70% year-over-year increase. The company anticipates total product and service revenue of $125 to $127 million for 2022, revised down from previous guidance. Adjusted EBITDA loss is projected to reach approximately $100 million. The balance sheet remains strong with $230.5 million in cash and equivalents.
NanoString Technologies (NASDAQ: NSTG) announced a collaboration with Visiopharm to enhance biomarker and drug target discovery. This partnership integrates NanoString’s GeoMx Digital Spatial Profiler with Visiopharm’s AI-driven image analysis for improved translational research workflows. The combination aims to accelerate biomarker validation using high-plex protein analysis and whole transcriptome data. Their collaborative tools will allow researchers to utilize advanced spatial biology insights. The partnership aligns with the ongoing advancements in AI and spatial biology, potentially leading to significant advancements in the field.
NanoString Technologies (NASDAQ: NSTG) announced the publication of a research paper in Nature Biotechnology, detailing its CosMx™ Spatial Molecular Imager (SMI). This study showcases the technology's chemistry, reproducibility, and sensitivity in analyzing non-small cell lung cancer and breast cancer samples. The research reveals over 18 distinct cell types and 100 unique ligand-receptor interactions. The commercial SMI instruments are set to ship later this year, expanding the company's spatial analysis tools alongside the GeoMx® Digital Spatial Profiler.
NanoString Technologies, Inc. (NASDAQ:NSTG) will release its third quarter 2022 operating results on November 7, 2022, at market close. A conference call is scheduled for 4:30pm ET on the same day, during which management will discuss the results and provide a business update. Interested parties can register for the call in advance via the company's investor relations website. An audio replay of the call will be available starting 7:30pm ET on November 7, until midnight on November 14, 2022.
NanoString Technologies, Inc. (NASDAQ:NSTG) announced that its CEO, Brad Gray, will present at two financial conferences. He will participate in a fireside discussion at the Morgan Stanley 20th Annual Global Healthcare Conference on September 12 at 1:05pm ET and at the 2022 Baird Global Healthcare Conference on September 13 at 10:15am ET.
Live webcasts with slides will be accessible through the investor section of their website.
NanoString Technologies (NSTG) announced a significant advancement in pancreatic cancer research through a peer-reviewed paper published in Nature Genetics. This research utilized the GeoMx Human Whole Transcriptome Atlas to detail the molecular landscape of pancreatic cancer, showcasing innovations in precision oncology. The study highlights the tumor's cellular diversity and emphasizes how understanding malignant cell programs can enhance therapeutic strategies. The paper is featured on the cover of the August 2022 issue, demonstrating the platform's capability to refine oncology efforts against this challenging disease.
NanoString Technologies reported a strong second quarter for 2022, with product and service revenue of $32.0 million, a significant 65% year-over-year increase in orders for spatial biology instruments, including over 25 CosMx systems. Despite this growth, the company anticipates a total revenue of $140 to $150 million, lower than previous guidance, due to an expected mix shift in orders. The company also reported a net loss of $39.2 million for the quarter and updated its adjusted EBITDA loss guidance to $75 to $85 million.
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