Nanosphere Inc.

NORTHBROOK, Ill., April 7, 2015 (GLOBE NEWSWIRE) -- Nanosphere, Inc. (Nasdaq:NSPH), a company enhancing medicine through targeted molecular diagnostics, announced today that a 20-to-1 reverse split of its common stock will be effective at 5:00 p.m. EDT on April 8, 2015, and commencing at the open of trading on Thursday, April 9, 2015, trading of the common stock will continue on the NASDAQ Capital Market on a reverse stock split-adjusted basis. The reverse stock split was approved by the company's stockholders at the special meeting of stockholders held today. The company's board of directors approved the implementation of a reverse stock split and determined the appropriate reverse stock split ratio to be 20-to-1.

At the effective time of the reverse stock split, every 20 shares of Nanosphere's issued and outstanding common stock will be converted into one newly issued and outstanding share of common stock, without any change in the par value per share.

Nanosphere Achieves Record Revenues of $4.7 Million for Second Quarter 2015
Published on August 11, 2015 at 4:42 AM
Nanosphere, Inc., a company enhancing medicine through targeted molecular diagnostics, today reported financial and operating results for the second quarter ended June 30, 2015.

Nanosphere achieved record revenues for the second quarter 2015, of $4.7 million compared to $2.7 million in the second quarter 2014. This 76% year-over-year revenue growth was driven by U.S. based microbiology laboratories' continued adoption of our Gram Positive (BCGP) and Gram Negative (BCGN) blood culture tests, which grew more than 87% over Q2 2014. The Company also confirmed full year revenue guidance for 2015 of $18-20 million.

"We are pleased to report another consecutive quarter of record revenue and gross profit improvement. This progress is driven by a clear focus on execution and continued adoption of our Verigene system and its expanding menu though our U.S. customer base. In addition, we continue to make significant progress on our next generation Verigene system and expect to start clinical trials by year end," said Michael McGarrity, Nanosphere's president and chief executive officer. "We are confident that our growth and competitive position in the market will continue to advance driven by our best in class performance, differentiated clinical and economic utility provided by our proprietary flex panel design, and continued productivity in our sales, cost reduction and development efforts."