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PLEASANTON, Calif. - 10x Genomics, Inc. (NASDAQ:TXG), a life sciences technology company with a market capitalization of $1.7 billion and impressive gross margins of nearly 70%, announced Tuesday the global launch of Xenium Protein, a new addition to its Xenium Spatial platform that enables simultaneous RNA and protein detection in the same cell and tissue section in a single automated run. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimates, with strong financial health indicators despite current market volatility.
The product represents the first fully integrated spatial multiomic workflow for the company’s Xenium platform, allowing researchers to analyze both RNA and protein together without needing to combine data from multiple technologies. This innovation comes as InvestingPro data shows the company maintaining a healthy balance sheet with more cash than debt and a strong current ratio of 5.84, indicating robust operational flexibility.
Xenium Protein includes ready-to-use protein subpanels that work alongside RNA panels on the same slide. The initial subpanels feature proteins involved in cell growth, signaling and immune response, which can be valuable for studying cancer, immunology and other disease areas.
"Integrating RNA and protein analysis within the same Xenium workflow enables a comprehensive view of tissue architecture and cell-cell interactions in a single experiment," said Dr. Julien Tessier, Principal Scientist at Sanofi, according to the company’s press release.
By eliminating the need for separate workflows or sample sections, the technology aims to simplify experimental design and reduce time to results for researchers. With annual revenue of $644 million and analysts projecting profitability this year, the company’s innovative approach appears to be gaining market traction. For deeper insights into 10x Genomics’ financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which are available for over 1,400 US stocks.
Michael Schnall-Levin, Founding Scientist and Chief Technology Officer at 10x Genomics, stated that integrated multiomic analysis is "essential to advancing our understanding of complex diseases and accelerating therapeutic discovery."
The company claims the technology removes reliance on data co-registration processes that can introduce uncertainty in research results.
10x Genomics develops life science technology for single cell and spatial biology applications used in academic and pharmaceutical research settings.
In other recent news, 10x Genomics announced it has signed a definitive agreement to acquire Scale Biosciences. This acquisition is aimed at expanding 10x Genomics’ capabilities in single cell analysis by integrating Scale’s combinatorial indexing and quantum barcoding technologies into its Chromium platform. The move is expected to make single cell analysis more accessible and affordable for researchers globally. Additionally, Canaccord Genuity has reiterated its Buy rating on 10x Genomics stock, maintaining a price target of $15. The research firm cited the company’s potential to benefit from large-scale single cell studies and the increasing use of artificial intelligence applications. Canaccord noted that these technologies could generate substantial revenue for 10x Genomics. These developments indicate a strategic expansion and potential for increased revenue in the future.
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