Nanosphere ($NSPH) is looking to expand, offering 10.5 million shares of common stock priced at an 8% discount of $2.40 apiece.
The diagnostics company is looking to raise $25.2 million in the public offering, money it will use to fund working capital and corporate expenses.
Nanosphere's shares have skyrocketed by 78% this year, The Wall Street Journal reports, and the company is expecting its second-quarter revenue to double that of 2011. Nanosphere recently snagged FDA clearance for a new blood culture test, and the firm added 25 lab and hospital placements in Q2, bringing its total to 166, according to the WSJ.
The company continues to expand its Verigene platform for molecular diagnostics, offering infectious-disease, pharmacogenetic and microbiological tests, among others. The firm was founded in 2000 based on nanotechnological work by researchers at Northwestern University.
- read Nanosphere's release
- get more from the WSJ