Friday, February 15, 2013

Nanosphere (NSPH) giga-Crashes

Nanosphere (NSPH) lost 32% of its market value yesterday (02013.02.14) after reporting 4Q'12 results and major management restructuring. Volume was 6.75 million vs. t3m-avg. of 0.43 million. Today my NSPH investment is underwater.

Tidbit from the press release.

Lurie Investments together with its affiliates has executed a twelve-month voluntary lock-up agreement with Nanosphere, indicating its intent to hold its position and realize the value it believes exists within the Company. Lurie Investments and its affiliates hold approximately 14.7 million shares of common stock, representing approximately 26% ownership of the Company.

Nanosphere ended 02012 with $33.1 million in "cash."

Nanosphere's 4Q'12 press release ended with the following guidance.

Nanosphere had previously provided guidance in the range of 80 to 100 placements for the first quarter of 2013. Slower than anticipated growth in international markets and the timing of projected regulatory approvals of the Company's gram negative blood stream infection and its enteric pathogens panels make 45-55 placements more likely in the first quarter.

NSPH closed yesterday (02013.02.14) at $1.79. 52-week range: $1.51 - $3.89.

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