10x Genomics, Inc. - TXG STOCK NEWS

10x Genomics, Inc. (Nasdaq: TXG) reported strong financial results for Q4 and full year 2021, with revenues of $143.5 million for Q4 and $490.5 million for the year, reflecting increases of 28% and 64%, respectively, compared to 2020. Gross margins for Q4 were 81%, slightly down from 83% year-over-year. Significant operating losses decreased to $15.8 million in Q4 from $409.6 million a year earlier. For 2022, the company projects revenues of $600 million to $630 million, indicating 22% to 28% growth.

10x Genomics (Nasdaq: TXG) will release its fourth quarter and full year financial results for 2021 on February 16, 2022. A conference call is scheduled at 1:30 p.m. PT to discuss the results and future outlook. The company's integrated solutions for biological analysis have been widely adopted globally, with significant citations in research. 10x Genomics holds a robust patent portfolio exceeding 1,300 patents.

10x Genomics (Nasdaq: TXG) expanded its 10x Certified Service Provider Network by adding three clinical research organizations: Q2 Solutions, Azenta Life Sciences, and CellCarta. This initiative aims to assist global biopharmaceutical companies in utilizing its advanced single-cell and spatial technologies for drug development. The partnership is designed to help predict therapy resistance in cancer patients and enhance clinical trial outcomes. Established in 2018, the program now includes over 40 service providers worldwide, showcasing an increasing demand for innovative genomic solutions.

ReCode Therapeutics announced the appointment of Shehnaaz Suliman as CEO and board member, effective immediately. Former CEO David Lockhart transitions to Chief Scientific Officer. Dr. Suliman, with over 25 years in drug development, previously led Alector and held key roles at Theravance and Roche. She aims to advance ReCode's pipeline of genetic medicines utilizing their selective organ targeting platform. The leadership change is anticipated to enhance growth and innovative therapeutics in the biopharmaceutical space.

10x Genomics (Nasdaq: TXG) announced participation in the 40th Annual J.P. Morgan Healthcare Conference on January 10, 2022, at 2:15 p.m. ET. The presentation will be accessible via a live and archived webcast on the company's website. 10x Genomics specializes in life science technology, offering integrated solutions for biological analysis.

Its products are utilized globally, including by top research institutions and pharmaceutical companies. The company boasts over 1,200 patents and has contributed to significant research in areas like oncology and neuroscience.

10x Genomics (TXG) reported third-quarter 2021 revenue of $125.3 million, marking a 74% increase from the previous year and an 8% rise sequentially. The company launched the Chromium X instrument and increased its installed base, contributing to higher consumables revenue. Operating expenses decreased to $116.7 million, down 5% year-over-year, primarily due to lower R&D expenses. The operating loss improved to $15.9 million from $65.3 million in Q3 2020. Net loss narrowed to $17.2 million compared to $65.8 million a year prior. 2021 revenue guidance was revised to $490-$500 million, indicating 64%-67% growth.

10x Genomics (Nasdaq: TXG) will report its third quarter 2021 financial results after market close on November 3, 2021. Management will host a conference call at 1:30 p.m. PT to discuss the results and future business outlook. The call will be accessible via a live webcast on the company’s website, which will also archive the event for 45 days.

10x Genomics focuses on life science technology, providing integrated solutions for biological analysis, adopted by leading global research institutions and cited in over 2,800 research papers.