Business
10x Genomics Reports Second Quarter 2020 Financial Results
PLEASANTON, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- 10x Genomics, Inc. (Nasdaq: TXG) today reported financial results for the second quarter ended June 30,
About this update from 10x Genomics, Inc.
[{"type":"text","content":"PLEASANTON, Calif., Aug. 11, 2020 (GLOBE NEWSWIRE) -- 10x Genomics, Inc. (Nasdaq: TXG) today reported financial results for the second quarter ended June 30, 2020.\n Recent Highlights Revenue was $42.9 million for the second quarter, representing a 23% decrease over the corresponding period in 2019, with the decline resulting from widespread customer lab closures related to the COVID-19 pandemic.Executed on our product development roadmap and launched several new products for our customers across both our Chromium and Visium platforms, including: Targeted Gene Expression for our Chromium platform to enable scientists to focus their research on the cell types and biomarkers that matter most. Our Targeted Gene Expression product for Visium is planned for later this year;Single-cell Multiome ATAC+Gene Expression for our Chromium platform to enable simultaneous analysis of epigenetic programming and gene expression across thousands to tens of thousands of cells in a single experiment;Next-generation Immune Profiling product for our Chromium platform offering up to a 60 percent increase in gene detection sensitivity for a more comprehensive approach to simultaneously examine cellular heterogeneity of the immune system, T and B cell repertoire diversity, and antigen specificity at single cell resolution; andVisium Spatial Gene Expression with Immunofluorescence, expanding Visium into multi-omics and allowing whole transcriptome spatial analysis and immunofluorescence protein detection to be performed in the same tissue. Launched the Visium Clinical Translational Research Network to improve and accelerate workflows related to assessing the spatial cellular relationship in clinical translational research studies and unveiled the first 45 members including GSK, Johns Hopkins Medical Institutions and Mass General Cancer Center. “Due to the efforts and perseverance of the 10x team, we were able to successfully execute across the business and launch a number of breakthrough products in the face of significant challenges during the quarter,” said Serge Saxonov, Co-Founder and CEO of 10x Genomics. “While we may face continued near-term disruption related to the pandemic, recent events have reinforced the importance of mastering biology, and I am as confident as ever in our long-term opportunity.” Second Quarter 2020 Financial Results Revenue ...