NanoString Tech (NSTG) has released an update.
Following a trial verdict in favor of 10x Genomics, Inc. and Prognosys Biosciences, Inc., the company faces financial uncertainty and challenges in raising additional capital. The company is considering various strategic, financial, and restructuring alternatives, but there are no commitments for any specific transaction. Discussions are ongoing with holders of the 2026 Senior Secured Notes about potential additional financing and covenant relief, even as default notices have been issued. The company’s ongoing litigation and the recent verdict raise doubts about its continued viability and ability to meet financial obligations, including impacting its ability to generate sufficient cash flow.
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