Nanosphere (NSPH) Appears To Be Progressing, But...

Nanosphere (NSPH) issued a press release yesterday (02014.03.18) after the market closed having the headline: Nanosphere Enters Into $30 Million Common Stock Purchase Agreement With Aspire Capital. My immediate thought was dilution, but I'd take that over the company going out of business due to no working capital.

"Our core U.S. microbiology business is continuing to grow and we expect our expanding infectious disease test menu to build upon this momentum. This facility provides us with another component in our financing plan that ensures Nanosphere has the capital necessary to take advantage of our growing market opportunities," said Michael McGarrity, President and Chief Executive Officer of Nanosphere.

Nanosphere will be hosting an Investor Day tomorrow (02014.03.20) in New York City.

NSPH closed yesterday 02014.03.18 at $2.29. 52-week range: $1.77 - $4.49.