10x Genomics Inc. filed SEC Form 8-K: Other Events
$TXG
Biotechnology: Laboratory Analytical Instruments
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 12, 2025
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(925 ) 401-7300
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
___________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
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Item 8.01 Other Events
On May 12, 2025, 10x Genomics, Inc. (the “Company”) entered into a settlement agreement and license agreements (the “Agreements”) with Bruker Corporation (“Bruker”) resolving all outstanding litigation and other proceedings between the parties across all jurisdictions around the world. The Company anticipates the parties will dismiss all claims with prejudice in all jurisdictions including actions pending in the United States, in Germany and before the European Unified Patent Court, within five days of May 12, 2025.
The Company had originally filed suit on May 6, 2021, against NanoString Technologies, Inc. (“NanoString”) in the U.S. District Court for the District of Delaware. The suit alleged that NanoString’s GeoMx Digital Spatial Profiler and associated instruments and reagents infringe U.S. Patent Nos. 10,472,669, 10,961,566, 10,983,113, 10,996,219, 11,001,878, 11,008,607 and 11,293,917.
On February 28, 2022, the Company filed a second suit against NanoString in the U.S. District Court for the District of Delaware. The suit alleged that NanoString’s CosMx Spatial Molecular Imager and associated instruments, reagents and services infringe U.S. Patent Nos. 10,227,639, 11,021,737, 11,293,051, 11,293,052, 11,293,054 and 11,542,554.
In May 2024, Bruker acquired certain assets and assumed certain liabilities of NanoString, including the litigation between the Company and NanoString, and the NanoString product lines subject to the lawsuits.
Pursuant to the terms of the Agreements the Company expects to receive up-front nonrefundable payments totaling $68 million, paid in equal quarterly installments with interest, between the third quarter of 2025 and the second quarter of 2026, as well as ongoing royalty payments related to the licensed products and services through the life of the licensed patents.
Forward-looking Statements
This Current Report on Form 8-K (this “Current Report”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. All statements included in this Current Report, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "see," "estimate," "predict," "potential," "would," "likely," "seek" or "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding litigation and the anticipated impacts of the settlement and license agreements with Bruker. These statements are based on management's current expectations, forecasts, beliefs, assumptions and information currently available to management. Actual outcomes and results could differ materially from these statements due to a number of factors and such statements should not be relied upon as representing 10x Genomics, Inc.'s views as of any date subsequent to the date of this Current Report. 10x Genomics, Inc. disclaims any obligation to update any forward-looking statements provided to reflect any change in 10x Genomics' expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. The material risks and uncertainties that could affect 10x Genomics, Inc.'s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this Current Report include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recently-filed 10-Q for the fiscal quarter ended March 31, 2025 and 10-K for the fiscal year ended December 31, 2024 and elsewhere in the documents 10x Genomics, Inc. files with the Securities and Exchange Commission from time to time.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
10x Genomics, Inc. | ||||||||
By: | /s/ Eric S. Whitaker | |||||||
Name: | Eric S. Whitaker | |||||||
Title: | Chief Legal Officer | |||||||
| Date: May 14, 2025 | ||||||||