NanoString Technologies shares are trading lower after 10x Genomics won a patent infringement case against the company. Following the verdict, the company withdrew its full year 2023 and Q4 financial guidance.
Portfolio Pulse from Benzinga Newsdesk
NanoString Technologies' stock is trading lower after losing a patent infringement case to 10x Genomics. As a result, NanoString retracted its financial guidance for the full year 2023 and Q4.
November 20, 2023 | 4:24 pm
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NanoString Technologies' shares dropped following a lost patent infringement lawsuit to 10x Genomics, causing the company to withdraw its 2023 and Q4 financial forecasts.
The loss of the patent infringement case to 10x Genomics is a significant legal setback for NanoString Technologies, likely resulting in investor concern over potential financial liabilities and future revenue impact. The withdrawal of financial guidance further exacerbates uncertainty, suggesting a lack of visibility into future performance which can negatively affect investor sentiment and the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100