Nanosphere prices initial public offering


Nanosphere develops the Verigene System, an advanced molecular diagnostics platform.
(Photo: Nanosphere)

November 2, 2007 — Nanosphere Inc., a nanotechnology-based molecular diagnostics company, has announced the pricing of its initial public offering of 7 million shares of its common stock at $14 per share. The company has granted to its underwriters a 30-day option to purchase up to an additional 1.05 million shares of common stock at the initial public offering price.

Nanosphere’s common stock began trading October 31 on NASDAQ under the symbol NSPH. Credit Suisse Securities LLC acted as the sole book-running manager for the offering. Piper Jaffray & Co., Leerink Swann LLC and Allen & Company LLC acted as co-managers.

Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene System, for direct genomic and ultra-sensitive protein detection.

Nanosphere recently announced that it had received clearance from the U.S. Food and Drug Administration for the company’s Verigene F5 / F2 / MTHFR Nucleic Acid Test, which detects disease-associated gene mutations that can contribute to blood coagulation disorders and difficulties metabolizing folate (vitamin B-12).

In September, the company’s Verigene Warfarin Metabolism Nucleic Acid Test received FDA clearance.

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