TXG - Why Is Life Science Tools Firm NanoString Stock Trading Lower Today? | Benzinga
On Monday, NanoString Technologies Inc (NASDAQ:NSTG) voluntarily initiated a Chapter 11 restructuring proceeding in the United States Bankruptcy Court for the District of Delaware.
Coincident with this proceeding, NanoString is exploring strategic alternatives, including the potential sale of the company or product lines.
“The unexpected outcome of the November GeoMx patent litigation trial in Delaware and the unusually large magnitude of the damages awarded by the jury have forced us to take proactive steps to protect our stakeholders, customers, and employees,” said Brad Gray, President and CEO of NanoString.
NanoString is currently the primary target of an extensive litigation ...