Shares of 10x Genomics, Inc. (TXG) surged 5.48% in after-hours trading on Wednesday, following the announcement of a patent litigation settlement agreement with Bruker Corporation. The resolution of this long-standing dispute has apparently boosted investor confidence in the genomics company.
The settlement includes a significant financial component, with Bruker agreeing to pay 10x Genomics $68 million. This payment will be made in equal quarterly installments between the third quarter of 2025 and the second quarter of 2026. Additionally, Bruker will pay ongoing royalties on sales of its spatial biology products for the duration of the licensed patents.
As part of the agreement, all ongoing lawsuits and administrative proceedings between the two companies will be withdrawn. This includes litigation pending in the United States, Germany, and the European Unified Patent Court. The global settlement also encompasses patent cross-license agreements, allowing both companies to focus on their scientific contributions without the distraction of legal disputes.
This resolution marks a significant milestone for 10x Genomics, potentially improving its financial outlook and reducing legal uncertainties. The market's positive reaction suggests that investors view this settlement as a favorable development for the company's future prospects in the competitive genomics industry.
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