Welcome to our dedicated page for 10x Genomics news (Ticker: TXG), a resource for investors and traders seeking the latest updates and insights on 10x Genomics stock.
10x Genomics, Inc. (Nasdaq: TXG) is a leading life science technology company based in Pleasanton, California. The company specializes in creating innovative solutions for single cell and spatial biology research, providing researchers with the tools necessary to advance human health by deepening the understanding of complex biological systems.
10x Genomics' product portfolio includes cutting-edge instruments, consumables, and software designed for high-resolution, large-scale analysis of biological systems. Among its notable products are the Chromium Controller, Reagent Kits, 10x Compatible Products, and Informatics Software. The bulk of the company's revenue is generated from the sale of consumables, which are crucial for ongoing research and experimental workflows.
Recently, 10x Genomics launched the GEM-X technology, a significant upgrade to its existing single cell technology. The GEM-X platform offers enhanced performance and reliability, enabling more comprehensive single cell analysis. The company has also introduced the Xenium product line, including the Xenium multi-modal cell segmentation kit and an immuno-oncology gene panel, which expands their single cell spatial analysis capabilities.
Financially, 10x Genomics has demonstrated growth, with 2023 revenue reaching $618.7 million, an increase from the previous year. Although the company reported a net loss for the same period, the launch of new products like the Visium HD Spatial Gene Expression assay and the continued development of the GEM-X technology are expected to drive future growth and adoption among researchers worldwide.
10x Genomics collaborates closely with academic and translational researchers, as well as biopharmaceutical companies, to fuel discoveries in fields such as oncology, immunology, and neuroscience. Their integrated solutions enable scientists to study biological systems at a resolution and scale that aligns with the complexity of biology, making significant contributions to the understanding of health and disease.
To stay up-to-date with 10x Genomics' latest developments, visit their official website at 10xgenomics.com, or follow them on LinkedIn and X (Twitter).
Curio Bioscience reported a favorable decision from the European Unified Patent Court (UPC) regarding a patent infringement claim by 10x Genomics. The court found that Curio Seeker does not infringe on the main claim asserted by 10x Genomics and ordered Curio Bioscience not to offer any violating products in certain countries. Curio Bioscience expects no impact on its commercial business due to this ruling.
10x Genomics, Inc. reported $141.0 million in revenue for the first quarter of 2024, a 5% increase from the same period in 2023. The company introduced four major new products, including Visium HD Spatial Gene Expression and two new Chromium products powered by GEM-X. Despite revenue growth, gross margin decreased to 66% due to product mix changes. Operating expenses rose by 3% to $154.4 million, driven by higher legal expenses and facility costs. The company saw an operating loss of $61.5 million and a net loss of $59.9 million for the quarter. 10x Genomics is maintaining its full-year 2024 revenue guidance of $670 million to $690 million, anticipating 8% to 12% growth over 2023.
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