10x Genomics Comments On Second UPC Preliminary Injunction Decision After UPC Denies Second Preliminary Injunction Request; Prior Injunctions Against NanoString's CosMx Products In Europe Remain In Full Effect
Portfolio Pulse from Benzinga Newsdesk
The European Unified Patent Court (UPC) has declined to issue a second preliminary injunction against NanoString Technologies (NSTG) based on European Patent 2 794 928 B1. However, previous injunctions against NanoString's CosMx products in Europe remain in effect. In the US, 10x Genomics (TXG) has filed suits against NanoString alleging patent infringement and is seeking over $30 million in damages. Trials are scheduled for November 2023 and September 2024.
October 10, 2023 | 4:08 pm
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NEGATIVE IMPACT
NanoString Technologies faces ongoing legal challenges from 10x Genomics, with potential financial implications if found guilty of patent infringement.
The ongoing legal battle and potential financial implications from the lawsuits filed by 10x Genomics could negatively impact NanoString's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
10x Genomics is actively pursuing legal action against NanoString Technologies for alleged patent infringement, seeking over $30 million in damages.
While the ongoing legal battle could potentially bring financial gains for 10x Genomics if they win, the outcome is uncertain and could also result in legal costs. Therefore, the short-term impact on the stock price is neutral.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100