Wednesday, June 26, 2013

NanoString Walloped In IPO

Seattle-based NanoString Technologies, the provider of molecular diagnostics and other life sciences tools, was walloped in its IPO on Wednesday, closing down nearly 20 percent below its already low IPO price. The firm closed at $8.06 per share, down from its $10.00 per share debut price--which was already below its $13.00 to $15.00 target. NanoString is venture backed by OVP Venture Partners, Calrus Ventures, Draper Fisher Jurvetson, AllianceBernstein, Morgan Stanley Expansion Capital, GE Healthymagination Fund, and BioMed Ventures, among others. NanoString is now trading on the NASDAQ Global Market as NSTG.