10X Genomics $TXG and NanoString $NSTG Q2 2023
The Spatial Battles continue
Both TXG 0.00%↑ 10X Genomics and NSTG 0.00%↑ NanoString presented Q2 2023 results.
https://www.genomeweb.com/business-news/10x-genomics-raises-full-year-revenue-guidance-xenium-sales
https://www.genomeweb.com/business-news/nanostring-technologies-q2-revenues-soar-37-percent-strong-instrument-sales
The two companies bubbled up as many other biotech companies did during 2021, and fizzled out during 2022.
The difference between the two is that at the end of 2022 and starting 2023, TXG 0.00%↑ 10X Genomics has experienced a slight recovery of their share value, whereas NSTG 0.00%↑ NanoString continues to decline.
By the time you read this, what I’ve written (12:00 UK time 4th August 2023) may already be different, but the pre-market for TXG 0.00%↑ is down -5.5%:
Whereas the pre-market for NSTG 0.00%↑ NanoString is flattish with respect to the levels experienced the day before in trading:
I will now discuss the Q2 2023 results for both companies and what the predicted instrument install-base tells us about customer trends for the spatial biology segment which both companies are betting hard on…