— FY19 Product and Service Revenue of
— Over 90 Cumulative GeoMx DSP Orders as of Year End —
“Last year was transformative for
“We enter 2020 with a substantially strengthened financial profile,” said
For the fourth quarter of 2019, product and service revenue is expected to be
Product and service revenue for full year 2019 is expected to be
Total revenue for the fourth quarter of 2019 is expected to be approximately
Cash and short-term investments totaled
- Generated orders for approximately 20 GeoMx DSP systems during the fourth quarter.
- Shipped 34 GeoMx DSP systems during the fourth quarter, and completed the installation of 25 of those 34 shipped units.
$0.7 millionin GeoMx consumables during the fourth quarter.
- Completed 35 Technology Access Program projects during the fourth quarter, bringing the total number of completed projects to more than 200 since inception of the program.
Sold approximately 125 nCounter Analysis Systems in 2019, increasing our installed base to approximately 855 nCounter Analysis Systems as of
December 31, 2019, an increase of approximately 17% over fiscal year 2018.
Licensed our nCounter-based diagnostic business to
Veracytefor initial consideration of $50 million. Certain operating costs were eliminated as a result of the transaction and combining the impact of these cost savings with the impact of the supply agreement on Prosigna® revenue and gross profit results in an approximate $14 millionimprovement in NanoString's2018 operating loss on a pro forma basis and an approximate $12 millionimprovement in NanoString’s anticipated 2019 operating loss on an annualized pro forma basis.
These preliminary results are based on management's initial analysis of operations for the quarter and year ended
For more information, please visit www.nanostring.com.
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our preliminary estimates of fourth quarter and fiscal year 2019 operating results and financial condition, expectations for demand for our products and growth in our business, the availability of GeoMx compatibility with next-generation sequencers and the anticipated impact on our business of our transaction with
Vice President, Investor Relations & Corporate Communications