NanoString disagrees with jury verdict, will seek to have overturned or amended

NanoString Technologies (NSTG) commented on the November 17th verdict of a jury in the U.S. District Court for the District of Delaware finding that NanoString GeoMx Digital Spatial Profiler products infringe patents licensed to 10x Genomics (TXG) and awarding approximately $31M in damages, consisting of approximately $25M of lost profits and a $6M royalty. NanoString said that, “We respectfully disagree with the jury’s verdict, which we will seek to have overturned or amended in our post-trial motions and then expect to appeal to the U.S. Court of Appeals for the Federal Circuit, a court that specializes in patent disputes. We remain resolute in our belief that the patents that 10x Genomics has asserted describe a fundamentally different scientific method than that which is used for our GeoMx system. Simply put, we believe the asserted patents are invalid, that we don’t infringe these patents, and that we should be vindicated on appeal. This verdict does not prevent NanoString from continuing to sell GeoMx products anywhere in the world. We believe that we will defeat any request by 10x Genomics for a potential future injunction and that we will continue to sell our GeoMx products worldwide without interruption. NanoString remains fully dedicated to enabling scientists to map the universe of biology and ultimately saving patients’ lives. 10x Genomics has filed multiple patent infringement lawsuits against us and other smaller competitors, a business strategy that we view as attempting to dominate the market to the detriment of scientists. NanoString remains steadfast in its commitment to defend the scientific community’s access to our products and researchers’ scientific freedom to select the platforms they need to advance their research.” NanoString also announced that it was withdrawing its full year 2023 and fourth quarter financial guidance, pending a review of the impact of this litigation outcome on its business.