— FY18 Product and Service Revenue of
— Generated Pre-Orders for More Than 30 GeoMx™ Digital Spatial Profilers —
“With 16% growth in our product and service revenue, 2018 was a year of renewed commercial momentum and strong execution as the investments we’ve made in our people and commercial processes began to pay off,” said
For the fourth quarter of 2018, product and service revenue is expected to be approximately
Product and service revenue for fiscal year 2018 is expected to be approximately
Total revenue for the fourth quarter of 2018 is expected to be approximately
Cash, cash equivalents and short-term investments totaled more than
- Approximately 135 nCounter® Analysis Systems were sold in 2018.
- Installed base of approximately 730 nCounter Analysis Systems at
December 31, 2018, an increase of approximately 20% since year-end 2017.
- Shipped first beta GeoMx Digital Spatial Profilers during the fourth quarter.
- Announced that the GeoMx Priority Site program was over-subscribed, yielding pre-orders for more than 30 instruments.
These preliminary results are based on management's initial analysis of operations for the quarter and year ended
NanoString Technologies provides life science tools for translational research and molecular diagnostic products. The company's nCounter® Analysis System has been employed in life sciences research since it was first introduced in 2008 and has been cited in more than 2,300 peer-reviewed publications. The nCounter Analysis System offers a cost-effective way to easily profile the expression of hundreds of genes, proteins, miRNAs, or copy number variations, simultaneously with high sensitivity and precision, facilitating a wide variety of basic research and translational medicine applications, including biomarker discovery and validation. The company's technology is also being used in diagnostics. The Prosigna® Breast Cancer Prognostic Gene Signature Assay together with the nCounter Dx Analysis System is FDA 510(k) cleared for use as a prognostic indicator for distant recurrence of breast cancer.
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 2018 operating results and financial condition, expectations for demand for our products and growth in our business and the expected commercial launch of our GeoMx Digital Spatial Profiler. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include market acceptance of our products; delays or denials of regulatory approvals or clearances for products or applications; delays or denials of reimbursement for diagnostic products; the impact of competition; the impact of expanded sales, marketing, product development and clinical activities on operating expenses; delays or other unforeseen problems with respect to manufacturing, product development or clinical studies; adverse conditions in the general domestic and global economic markets; as well as the other risks set forth in our filings with the
Vice President, Investor Relations & Corporate Communications
Source: NanoString Technologies, Inc.