The big problem was a one-time $100 million legal settlement that pushed it to lose $49 million more in Q4 2019 than Q4 2018. That comes from a shareholders lawsuit claiming Snap didn’t adequately disclose the impact of competition from Facebook on its business. The IPO was soured by weak user growth as people shifted from Snapchat Stories to Instagram Stories.
A US federal court said this week it will allow 10x Genomics to provide Vanderbilt University’s Vaccine Center with a new Chromium instrument configured to run GEM microfluidic chips to help respond to the 2019-nCoV coronavirus outbreak. 10x Genomics has been prohibited from selling so-called legacy instruments under an injunction issued by the US District Court for the District of Delaware, but the firm has been granted a one-time exception. Bio-Rad Laboratories, the plaintiff in the patent infringement suit that led to the injunction, agreed to the arrangement. Vanderbilt’s Vaccine Center requested the instrument to run 10x’s single-cell immune profiling assay on control samples, after it moved its existing Chromium instrument into a contained environment.
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