10x Genomics Wins Another Patent Infringement Case Against NanoString Technologies; Jury Awards 10x Genomics Over $31M In Damages And Finds All Seven Asserted Patents Valid And Willfully Infringed By NanoString
Portfolio Pulse from Benzinga Newsdesk
10x Genomics (TXG) has won a patent infringement case against NanoString Technologies (NSTG), with a jury awarding TXG over $31 million in damages. The jury found all seven asserted patents valid and willfully infringed by NSTG's GeoMx products. TXG plans to seek ongoing royalties, treble damages, attorney's fees, a permanent injunction, and pre- and post-judgment interest. This is the third ruling against NSTG in six months, with previous rulings from European courts. TXG has another pending suit against NSTG in the U.S. with a trial scheduled for September 2024.
November 19, 2023 | 8:34 pm
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POSITIVE IMPACT
10x Genomics wins a significant patent infringement case against NanoString, awarded over $31 million in damages, and may seek further compensation and injunctions.
The positive outcome of the lawsuit is likely to be viewed favorably by investors, potentially boosting TXG's stock price in the short term. The award and potential for further compensation and injunctions against NSTG could strengthen TXG's market position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
NanoString Technologies faces a loss in a patent infringement case to 10x Genomics, with over $31 million in damages and the possibility of further penalties.
The loss in court and the financial penalties could negatively impact NSTG's stock price in the short term. The potential for ongoing royalties, treble damages, and a permanent injunction could further strain NSTG's financials and operations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90