NanoString Comments On Unified Patent Court Order; Says "We Are Disappointed With Today's Decision By The UPC And Will Immediately Appeal The Preliminary Injunction In The UPC Court Of Appeal In Luxembourg"
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The European Unified Patent Court (UPC) has granted a preliminary injunction against NanoString Technologies, Inc. (NASDAQ:NSTG) in 17 EU Member States, temporarily blocking the company's ability to market and sell its CosMx Spatial Molecular Imager products for RNA detection. This is part of an ongoing patent dispute with 10x Genomics and Harvard. NanoString plans to immediately appeal the decision and remains confident that it does not infringe the asserted patents. The ruling does not affect NanoString's ability to market or sell CosMx SMI products for protein detection in the EU, or any products in the US, the UK, or the rest of the world outside of the EU member states participating in the UPC system.
September 19, 2023 | 3:56 pm
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The preliminary injunction against NanoString may temporarily affect its sales in 17 EU Member States. However, the company plans to appeal the decision and the ruling does not affect its ability to sell other products or in other regions. The company reiterated its 2023 total revenue guidance of $175-$185 million.
The preliminary injunction could negatively impact NanoString's sales in the short term in the affected EU countries. However, the company's intention to appeal the decision and the fact that the ruling does not affect its ability to sell other products or in other regions could mitigate this impact. The company's reiteration of its 2023 revenue guidance also suggests that it does not expect a significant financial impact from this decision.
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