NanoString Says Disagrees With Jury's Patent-Infringement Verdict; Withdraws Outlook

(RTTNews) - NanoString Technologies Inc. (NSTG) said it respectfully disagreed with the verdict of the jury in the U.S. District Court for the District of Delaware. The company will seek to have the verdict overturned or amended in post-trial motions and then expects to appeal to the U.S. Court of Appeals for the Federal Circuit, a court that specializes in patent disputes.

On 17th November, the jury found that NanoString GeoMx Digital Spatial Profiler products infringe patents licensed to 10x Genomics and awarding approximately $31 million in damages, consisting of approximately $25 million of lost profits and a $6 million royalty.

NanoString noted that it remain resolute in its belief that the patents that 10x Genomics has asserted describe a fundamentally different scientific method than that which is used for GeoMx system. Simply put, the company believes the asserted patents are invalid, that it doesn't infringe these patents, and that it should be vindicated on appeal.

NanoString also said that it withdrew its full year 2023 and fourth quarter financial guidance, pending a review of the impact of this litigation outcome on its business.