NanoString down after company withdraws annual forecast

10x Genomics

20/11/2023 13:38

** Lab equipment maker NanoString Technologies'  NSTG.O 
shares down 11.7% at $1.13 premarket
    ** Late-Sunday, company withdrew its FY23 and Q4 financial
forecasts after losing a U.S. patent case by 10x Genomics
related to GeoMx products sold by NanoString
    ** NSTG said on Sunday it disagrees with the jury's verdict
on Friday and believes it will defeat any request by 10x
Genomics for a potential future injunction
    ** NanoString also said it will continue to sell its GeoMx
products, used to profile tissues for mRNA and protein
expression, worldwide without interruption  
    ** Brokerage TD Cowen cuts PT on NanoString's shares to
$1.40 from $6, downgrades rating to "market perform" from
"outperform"
    ** As of last close, NSTG stock down about 84% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))