BRIEF-NanoString Technologies cuts 30 jobs; sees FY 2017 revenue between $113 mln-$115 mln


Jan 8 (Reuters) – Nanostring Technologies Inc:

* NANOSTRING TECHNOLOGIES SAYS ‍PRODUCT AND SERVICE REVENUE FOR FISCAL YEAR 2017 IS EXPECTED TO BE ABOUT $72 MILLION, VERSUS PRIOR GUIDANCE OF $68 TO $71 MILLION​

* SEES FY 2017 REVENUE $113 MILLION TO $115 MILLION

* NANOSTRING TECHNOLOGIES PROVIDES PRELIMINARY OPERATIONAL AND FINANCIAL RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2017

* ‍PRODUCT AND SERVICE REVENUE FOR Q4 OF 2017 IS EXPECTED TO BE APPROXIMATELY $21 MILLION​

* ‍DURING Q4, COMPANY ELIMINATED APPROXIMATELY 30 POSITIONS IN LOWER-PRIORITY AREAS OF BUSINESS​

* ‍NOW EXPECTS THAT ITS EXISTING CASH ON-HAND WILL BE SUFFICIENT TO FUND ITS OPERATIONS THROUGH MID-2019​ Source text for Eikon: Further company coverage:


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