$heff's $tation of $tocks & $olid DD

[$heff]

Sheff Alert DD Report on NSPH at $4.11-Significantly Undervalued here! Targetis $10 by mid August as FDA has not been on time with FDA 510K Clearances for medical products.(Alerted to subscribers on 7/6)

I like NSPH at this level or under $5 ($4.11 now)! Nanosphere (NASDAQ: NSPH) has three 510(k) applications pending at the FDA with estimated decisions during 2H09 (June 30th), including diagnostic assays for cystic fibrosis and hemochromatosis (a disorder in which excessive amounts of iron are absorbed and accumulate in the body in tissues and organs such as the heart and liver), along with a second generation version of its Verigene System that incorporates automated sample processing.

The most recent direct buy on NSPH (5/22) was the most impressive! 504,500 shares @ 3.05 by Lurie Investment Fund.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6628092

--------------------------------------------------------------------------------------
Source: Nanosphere, Inc.
Nanosphere Co-founder and Board Member, Dr. Chad Mirkin, Awarded Prestigious Lemelson-MIT Prize for Revolutionary Advancements in Nanotechnology

NORTHBROOK, Ill., June 24, 2009 (GLOBE NEWSWIRE) -- Nanosphere, Inc. (Nasdaq:NSPH), a leader in the development and commercialization of advanced molecular diagnostics systems, announced today that its co-founder and member of its board of directors has been awarded the prestigious Lemelson-MIT Prize.

Chad Mirkin, Ph.D., a scientist and pioneer in the development of ultra-high sensitivity and selectivity assays based upon nanostructures, was cited as "a prolific inventor and entrepreneur, his innovations have the potential to transform the future of medical diagnostics and patient point-of-care and to ignite change across many industries from semi-conductors to healthcare," in the MIT announcement made earlier today.

The Lemelson-MIT Program recognizes outstanding inventors, encourages sustainable new solutions to real-world problems, and enables and inspires young people to pursue creative lives and careers through invention.

"MIT's recognition of both Dr. Mirkin's ground-breaking science and the promise of nanotechnology further validates the advances we make every day in improving healthcare and patient outcomes," said William P. Moffitt, president and chief executive officer of Nanosphere.

Nanosphere has commercialized many of the nanoparticle-based, medical diagnostic assays based upon the principles of Dr. Mirkin's inventions. This has led to the development of the Verigene ID(tm) System, Nanosphere's innovative biodiagnostic system that can test patients for several different disease targets at the same time, on-site in a research laboratory, community hospital, or doctor's office in less than an hour. "In the case of proteins, the test can be thousands of times more sensitive than any commercial protein detection system out there, and has the power to revolutionize medical diagnosis," explained Dr. Mirkin.

"Dr. Mirkin is an extraordinary scientist who is at the forefront of the growing field of nanotechnology," states Michael J. Cima, Faculty Director, Lemelson-MIT Program. "His inventions are paving the way for the emergence of nanotechnology in medicine, with impact that extends far beyond the scientific community. He is truly deserving of this honor."

Dr. Mirkin, the George B. Rathmann Professor of Chemistry and Director of the International Institute for Nanotechnology at Northwestern University, will accept the prize and present his accomplishments to the public at the Massachusetts Institute of Technology during the Lemelson-MIT Program's third-annual EurekaFest, a multi-day celebration of the inventive spirit, held June 25-27.

Dr. Mirkin is currently the director of the Northwestern University International Institute for Nanotechnology and the George B. Rathmann Professor of Chemistry, Professor of Medicine, and Professor of Materials Science and Engineering. Dr. Mirkin received his undergraduate training at Dickinson College (B.S., 1986) and his graduate training at the Pennsylvania State University, where he completed his Ph.D. in chemistry in 1989. That same year, he moved to MIT as a National Science Foundation Postdoctoral Fellow. Dr. Mirkin joined the faculty at Northwestern University in 1991.

About Nanosphere, Inc.

Nanosphere develops, manufactures and markets an advanced molecular diagnostics platform, the Verigene(r) System for direct genomic and ultra-sensitive protein detection. This easy-to-use and cost-effective platform enables simple, low-cost and highly sensitive genomic and protein testing on a single platform. Nanosphere is based in Northbrook, IL. Additional information is available at www.nanosphere.us.

The Nanosphere, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4344

Safe Harbor Statement

Except for historical information, the matters discussed in this press release are "forward-looking statements" and are subject to risks and uncertainties. Actual results could differ materially from these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (i) Nanosphere's ability to develop commercially viable products; (ii) Nanosphere's ability to achieve profitability; (iii) Nanosphere's ability to produce and market its products; (iv) Nanosphere's ability to obtain regulatory approval of its products; (v) Nanosphere's ability to protect its intellectual property; (vi) competition and alternative technologies; and (vii) Nanosphere's ability to obtain additional financing, if and when necessary, to support its operations. Additional risks are discussed in the Company's current filings with the Securities and Exchange Commission. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The forward-looking statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CONTACT: Nanosphere, Inc.
William P. Moffitt, President and CEO
847-400-9021
[e-mail]

The Torrenzano Group
Rick Anderson
212-681-1700, Ext. 115
[e-mail]
http://www.globenewswire.com/newsroom/news.html?ref=rss&d=167829

------------------------------------------------------------------------------------

Nanosphere (NSPH) recently filed 510(k) applications with the FDA for two new diagnostic products, including a cystic fibrosis assay and an infectious disease panel for respiratory viruses (influenza + respiratory syncytial virus or RSV). Since the 510(k) process is not as involved or length as a PMA; NSPH could receive word from the FDA by mid-2009.

NSPH trades at a market cap of $117M with a much lower enterprise value of $50M thanks to $75M in net cash on the balance sheet, but the Company is still in the early stages of transitioning from the development stage with just over $1M in trailing 12-month revenue. The Company is also developing additional diagnostic assays to detect cardiovascular disease (cariac troponin I test) and diagnostics should be the beneficiary of a focus on preventive medicine by the new administration.
--------------------------------------------------------------------------------------

The long and short is that I really like this company a lot and believe that it is significantly undervalued with 3 pending 510K Clearance approval possibilities by the end of August. One is pending now, end of July, and end of August.

Best, Sheff