Following the UPC granting a preliminary injunction against NanoString (NSTG) in the 10x Genomics (TXG) case, Stifel analyst Daniel Arias said that NanoString shares had baked in a good deal of bad news heading into the decision, but the extra leg down is not surprising given the way in which investors are likely to extrapolate to the U.S. proceedings and to the cash generation risk. The firm does not believe a financing solution is still possible for NanoString, but until confidence is gained in the outlook for the company’s two main growth engines, intrepid investors will likely be pretty hard to find. With respect to 10x Genomics, Stifel said these developments should further the early momentum that Xenium has in the marketplace. The analyst has a Buy rating on NanoString and 10x Genomics.
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