Here's Why 10x Genomics Rose 17.5% in December
Shares of 10x Genomics (NASDAQ: TXG) gained 17.5% last month, according to data provided by S&P Global Market Intelligence. The laboratory hardware provider had been embroiled in a costly patent dispute with Bio-Rad Laboratories (NYSE: BIO), but investors received some potentially great news on the matter in mid-December.
On Dec. 18, the U.S. International Trade Commission (ITC) upheld a previous court's ruling that certain legacy products did infringe on Bio-Rad patents but significantly reduced the amount of money that had to be set aside as a penalty. The ITC also ruled that the hardware underpinning next-generation products developed by 10x Genomics does not infringe on Bio-Rad patents, as Bio-Rad has alleged.
The decision means 10x Genomics might finally be able to remove the uncertainty hanging overhead when it transitions all business to its next-generation portfolio, which is expected by the end of 2020.
Source Fool.com
