NanoString Technologies filed for Chapter 11 bankruptcy on February 4, 2024. The next day, GeekWire reported that its stock had sunk 70%. That was a contemporaneous headline figure, not a freshly calculated or independently verified price change. The company’s operating business was later acquired by Bruker, but NanoString’s former shares and warrants were canceled when its bankruptcy plan took effect on June 26, 2024.
Why did NanoString stock drop 70%?
The immediate event was NanoString Technologies’ Chapter 11 filing. On February 4, 2024, NanoString and certain subsidiaries filed voluntary petitions in the U.S. Bankruptcy Court for the District of Delaware. The company said it was seeking customary “first day” relief to make the transition and continue ordinary-course operations; management, the board and employees were to keep operating the business and serving customers during the proceeding. NanoString’s February 5 SEC filing records the filing and the company’s stated plan.
On February 5, GeekWire published a headline saying NanoString stock “sinks 70%” as the bankruptcy process began. The 70% figure belongs to that contemporaneous report. The available information does not establish the precise reference price or measurement window, so it should not be treated as a newly calculated decline or a current market quote. GeekWire’s February 5, 2024 report.
Did NanoString file for bankruptcy?
Yes. The company and certain subsidiaries filed voluntary Chapter 11 petitions on February 4, 2024, in the U.S. Bankruptcy Court for the District of Delaware. Chapter 11 allowed the business to continue operating while it pursued a court-supervised restructuring and sale process; it did not mean that the public shares were protected from cancellation.
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What happened to NanoString stock after bankruptcy?
NanoString common stock was suspended from Nasdaq and began trading on the OTC Pink Marketplace under ticker NSTGQ on February 14, 2024. This was a venue and ticker change during the bankruptcy case, not evidence that the old equity retained value or would survive the plan.
The company’s Chapter 11 plan became effective on June 26, 2024. NanoString’s SEC filing said all outstanding common shares—including shares issuable under equity awards—and warrants exercisable for common shares were canceled. Holders would not receive or retain property on account of those interests at that time. The filing described a distribution only as a possibility if value remained after creditors and other claimholders had been paid in full; it does not establish that such a surplus existed or that former shareholders received a payment. NanoString’s June 26, 2024 SEC filing.
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What happened to NanoString after Bruker bought it?
Bruker announced on May 6, 2024 that it had completed the acquisition of substantially all assets and rights associated with NanoString’s business. The transaction was part of the court-supervised process. Bruker said the acquired assets and rights included the nCounter, GeoMx, CosMx and AtoMx product lines. The operating business and technologies therefore continued under Bruker ownership, separately from NanoString’s former public shares.
Bruker stated that the acquisition involved approximately $392.6 million in cash consideration, plus assumption of certain liabilities. In the same closing announcement, Bruker reported NanoString revenue of approximately $168 million for 2023 and said its platforms and solutions had been critical in enabling work leading to more than 7,000 peer-reviewed publications. These are figures reported by Bruker, not independently audited measures presented here as such. Bruker’s May 6, 2024 acquisition announcement.
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Is NanoString still trading?
NanoString’s former common shares and warrants were canceled when its plan became effective in June 2024. The historical OTC ticker NSTGQ should not be confused with an active, surviving investment in the business now owned by Bruker. The cancellation applies to the old equity interests; it does not mean that the acquired operating business ceased to exist.
A secondary docket index lists post-confirmation reporting activity, including a report for the quarter ending June 30, 2026. That indicates reporting activity after confirmation, but by itself does not establish that every part of the bankruptcy case remains open or that former shareholders will receive a distribution. Inforuptcy’s docket index.
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