10x Genomics, Quanterix worst-hit if US health agency cuts costs, Leerink says

10x Genomics

10/02/2025 14:37

** Brokerage Leerink Partners says that about $4 billion of
expected cost cuts at the National Institutes of Health will
disproportionately impact large private academic institutions,
research centers and medical schools 
    ** NIH, the U.S. government's largest source of federal
funds for medical research, plans to reduce indirect costs
across both existing and future grants related to biomedical
research
    ** The "U.S. academic system has not experienced such a
magnitude of funding cuts and at such a speed" -  Leerink
        ** Brokerage sees the worst sales impact for life
sciences technology firms 10x Genomics  TXG.O  and Quanterix
 QTRX.O  in Q1 as researchers get cautious and pause purchases
of instruments dramatically
  
        ** Gene sequencing equipment maker Illumina  ILMN.O ,
already on China's "unreliable entity" list, could also see
"meaningful impact" as academic and research institutes make up
a major part of its customer base 
  
    ** Medical device maker Thermo Fisher Scientific  TMO.N 
will face more impact than rival Danaher  DHR.N  due to a
relatively higher exposure to institutions
    ** In the last 12 months, TGX stock fell 69.51%, QTRX fell
66.11%, ILMN fell 18.27%, BRKR fell 35.76%, DHR fell 18.32% and
RGEN fell 19.55% 
    
    

 (Reporting by Siddhi Mahatole)
 ((siddhiprabhanjan.mahatole@thomsonreuters.com))