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PLEASANTON, Calif. - 10x Genomics, Inc. (NASDAQ:TXG), currently trading at $12.80 with a market capitalization of $1.57 billion, announced today it has signed a definitive agreement to acquire Scale Biosciences, Inc., a company specializing in scalable single cell analysis technology. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet.
The acquisition aims to integrate Scale’s combinatorial indexing and quantum barcoding technologies into 10x Genomics’ Chromium platform, potentially making single cell analysis more accessible and affordable for researchers worldwide. The company’s financial health score is rated as GOOD by InvestingPro, with a particularly strong cash flow score of 3.41 out of 5.
Scale Biosciences was founded by scientists with expertise in genomics and bioinformatics, including Professor Garry Nolan from Stanford University and Professors Jay Shendure and Cole Trapnell from University of Washington, who will join 10x as advisors.
"At 10x, we’re relentlessly innovating to build a world where single cell analysis is routine, accessible, and scalable at levels previously unimaginable," said Serge Saxonov, CEO of 10x Genomics.
The acquisition supports 10x Genomics’ multi-year product roadmap for scaling the number of cells and samples that can be analyzed while maintaining data quality. The company plans to continue supporting current Scale customers with ongoing experiments and initiatives such as the 100 Million Cell Challenge and the Billion Cells Project.
Key Scale products will remain available on the market, according to the press release. Financial terms of the acquisition were not disclosed.
10x Genomics develops integrated solutions for single cell and spatial biology, including instruments, consumables, and software used in research areas such as oncology, immunology, and neuroscience.
In other recent news, 10X Genomics reported its first-quarter 2025 financial results, exceeding both Canaccord Genuity’s projections and the FactSet consensus. The company’s performance was bolstered by strong growth in consumables revenue, particularly from its Chromium and Spatial products. Additionally, 10X Genomics has settled a patent dispute with Bruker Corporation for $68 million, which will be paid in installments from the third quarter of 2025 through the second quarter of 2026. This settlement includes ongoing royalties from Bruker’s spatial biology product sales and concludes all legal proceedings between the companies across various jurisdictions.
In terms of analyst activity, Canaccord Genuity has reiterated its Buy rating on 10X Genomics, citing the company’s potential to benefit from large-scale single cell studies and artificial intelligence applications. However, Canaccord has adjusted its price target for the stock to $15.00, down from $18.00, reflecting a more cautious outlook due to reduced near-term estimates and increased macroeconomic uncertainty. Despite this adjustment, the firm remains optimistic about 10X Genomics’ long-term prospects, emphasizing the company’s role in advancing multiomics technologies. These developments highlight the company’s strategic positioning and ongoing legal resolutions as it navigates the current market environment.
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