NanoString to cut about 110 jobs, shares rise

NS Wind Down Co

10/10/2023 11:47

** Shares of lab equipment maker NanoString Technologies
 NSTG.O  rise ~4.2% to $1.25 premarket
    ** Co says it has commenced reorganization plans that will
eliminate about 110 positions and reduce expenses by over $15
mln on an annualized basis
    ** Expects severance and employee transition charge of about
$5 mln in Q4 2023
    ** Up to last close, shares down 85% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))