The Garvan Institute of Medical Research

PLEASANTON, Calif. , Aug. 8, 2024 /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, today reported financial results for the second quarter ended June 30, 2024. Recent Highlights Revenue was $153.1 million for the second quarter, a 4% increase over the corresponding period of 2023, primarily driven by stronger contributions from consumables. Began shipping Xenium Prime 5K, which measures 5,000 genes and features an enhanced chemistry to deliver excellent per-gene sensitivity, improved specificity and spatial fidelity, and integrated multimodal cell segmentation. Announced that the Garvan Institute of Medical Research selected Chromium GEM-X for its new TenK10K project, which intends to map 50 million human cells to identify unique genomic fingerprints of autoimmune diseases, heart diseases and cancer. "While it's a challenging macro environment, we saw strong demand for spatial and single cell consumables this quarter, fueled by significant product launches earlier this year," said Serge Saxonov, Co-founder and CEO of 10x Genomics. "We remain confident in the strength, differentiation and long-term potential of our platforms as we evolve our commercial organization and continue to execute our strategy." Second Quarter 2024 Financial Results Revenue was $153.1 million for the second quarter of 2024, a 4% increase from $146.8 million for the corresponding prior year period. Gross margin was flat year over year at 68%. Operating expenses were $146.0 million for the second quarter of 2024, a 10% decrease from $163.0 million for the corresponding prior year period. This decrease was primarily driven by lower personnel expenses, including stock-based compensation expense, and a decrease in laboratory materials and supplies. Operating loss was $41.7 million for the second quarter of 2024, as compared to $63.4 million for the corresponding prior year period. Operating loss includes $38.5 million of stock-based compensation for the second quarter of 2024, as compared to $45.7 million of stock-based compensation for the corresponding prior year period. Net loss was $37.9 million for the second quarter of 2024, as compared to a net loss of $62.4 million for the corresponding prior year period. Cash and cash equivalents and marketable securities were $380.1 million as of June 30, 2024. 2024 Financial Guidance 10x Genomics is updating its outlook for the full year 2024. The company now expects revenue to be in the range of $640 million to $660 million versus a prior range of $670 million to $690 million. The updated range represents 3% to 7% growth over full year 2023 revenue. Webcast and Conference Call Information 10x Genomics will host a conference call to discuss the second quarter 2024 financial results, business developments and outlook after market close on Thursday, August 8, 2024 at 1:30 PM Pacific Time / 4:30 PM Eastern Time. A webcast of the conference call can be accessed at . The webcast will be archived and available for replay at least 45 days after the event. About 10x Genomics 10x Genomics is a life science technology company building products to accelerate the mastery of biology and advance human health. Our integrated solutions include instruments, consumables and software for single cell and spatial biology, which help academic and translational researchers and biopharmaceutical companies understand biological systems at a resolution and scale that matches the complexity of biology. Our products are behind breakthroughs in oncology, immunology, neuroscience and more, fueling powerful discoveries that are transforming the world's understanding of health and disease. To learn more, visit 10xgenomics.com or connect with us on LinkedIn or X (Twitter). Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the "safe harbor" created by those sections. All statements included in this press release, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "see," "estimate," "predict," "potential," "would," "likely," "seek" or "continue" or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding 10x Genomics, Inc.'s product momentum, potential, organization, strategy, demand, progress and launches, our expected performance advantages and benefits of using our products and services, customer usage and adoption of our products and our financial performance and results of operations, including our expectations regarding revenue and guidance. These statements are based on management's current expectations, forecasts, beliefs, assumptions and information currently available to management. Actual outcomes and results could differ materially from these statements due to a number of factors and such statements should not be relied upon as representing 10x Genomics, Inc.'s views as of any date subsequent to the date of this press release. 10x Genomics, Inc. disclaims any obligation to update any forward-looking statements provided to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. The material risks and uncertainties that could affect 10x Genomics, Inc.'s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recently-filed 10-K for the fiscal year ended December 31, 2023 and the company's 10-Q for the quarter ended March 31, 2024 to be filed with the Securities and Exchange Commission (SEC) and elsewhere in the documents 10x Genomics, Inc. files with the SEC from time to time. Disclosure Information 10x Genomics uses filings with the Securities and Exchange Commission, our website (), press releases, public conference calls, public webcasts and our social media accounts as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Contacts Investors: [email protected] Media: [email protected] SOURCE 10x Genomics, Inc.

Garvan Institute's TenK10K Project Aims to Map 50 Million Human Cells from 10,000 People PLEASANTON, Calif., Aug. 5, 2024 /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, announced today its involvement in TenK10K, a large-scale, multi-year study led by the Garvan Institute of Medical Research. The TenK10K project intends to map 50 million human cells from 10,000 people to identify unique genomic fingerprints of autoimmune diseases, heart diseases and cancer. For this groundbreaking project, the Garvan Institute selected Chromium GEM-X products to generate single cell data to improve the accuracy of predicting disease risk and treatment response. "TenK10K has the potential to enable a significant step forward in personalized medicine," said Professor Joseph Powell, leader of the TenK10K project, Program Director for Translational Genomics at the Garvan Institute of Medical Research, and Director of the UNSW Cellular Genomics Futures Institute. "Through single cell sequencing, which analyzes individual cells rather than an average of many cells, we can see fingerprints that we've never been able to distinguish. We are excited by translational opportunities that come from combining these leading sequencing and single cell technologies with advanced machine learning methods." One of the largest projects of its kind, TenK10K aims to improve how accurately disease-linked immune cell fingerprints can be identified and develop: Commercial tests to identify the right therapy for challenging autoimmune diseases including multiple sclerosis, rheumatoid arthritis, lupus, type 1 diabetes, spondylitis, inflammatory bowel disease and Crohn's disease Early trials of powerful new RNA therapies Potential early targets for treatments for cancers and long COVID Tests to track the aftermath of heart attacks and identify risk of sudden death As part of this new study, the Garvan Institute will use Chromium GEM-X products, the next generation of 10x Genomics' leading single cell technology, delivering increased sensitivity, throughput, data quality and sample recovery. GEM-X is uniquely positioned for translational research, delivering class-leading performance at larger scale and lower cost, even with more challenging samples. "Single cell analysis at a massive scale has the potential to make a massive impact on how we understand, diagnose, treat and ultimately cure disease. We are thrilled to see the Garvan Institute help turn this potential into reality and use our new Chromium GEM-X technology as part of their groundbreaking TenK10K project," said Ben Hindson, Co-Founder and Chief Scientific Officer at 10x Genomics. "Enabling more researchers to harness the full power of high-performance single cell analysis at larger scale and lower cost is what drives our continued velocity of innovation." TenK10K builds on the early success of the Garvan Institute's OneK1K pioneering study. For a 2022 paper published in Science, Powell and a team of researchers used single cell sequencing technologies from 10x Genomics to analyze the genomic profile of more than one million cells from 1,000 people. This study led to a proof-of-principle clinical trial at 10 hospitals in Sydney, Australia to help match individual patients with the most effective treatment. "The early results suggest we can predict a patient's response to a therapy based on their genetic profile," Powell added. For the TenK10K project, the Garvan Institute has partnered with Illumina, which is providing supplies, equipment and specialist research support to the Garvan Institute. About 10x Genomics 10x Genomics is a life science technology company building products to accelerate the mastery of biology and advance human health. Our integrated solutions include instruments, consumables and software for single cell and spatial biology, which help academic and translational researchers and biopharmaceutical companies understand biological systems at a resolution and scale that matches the complexity of biology. Our products are behind breakthroughs in oncology, immunology, neuroscience and more, fueling powerful discoveries that are transforming the world's understanding of health and disease. To learn more, visit 10xgenomics.com or connect with us on LinkedIn or X (Twitter). Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which fall under the "safe harbor" provisions of those sections. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or variations of them or similar terminology, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include statements regarding 10x Genomics, Inc.'s products, performance, configuration, capabilities, usage and anticipated projects utilizing 10x Genomics technologies. These statements are based on management's current expectations, forecasts, beliefs, assumptions and information currently available to management, and actual outcomes and results could differ materially from these statements due to a number of factors. Other risks and uncertainties that could affect 10x Genomics' financial and operating results and cause actual results to differ materially from those suggested by the forward-looking statements made in this press release include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in the documents 10x Genomics files with the Securities and Exchange Commission (the "SEC") from time to time. Although 10x Genomics believes that the expectations reflected in the forward-looking statements are reasonable, it cannot provide any assurance that these expectations will prove to be correct nor can it guarantee that the future results, levels of activity, performance, usage and events and circumstances reflected in the forward-looking statements will be achieved or occur. The forward-looking statements in this press release are based on information available to 10x Genomics as of the date hereof, and 10x Genomics disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing 10x Genomics' views as of any date subsequent to the date of this press release. Disclosure Information 10x Genomics uses filings with the Securities and Exchange Commission, our website (), press releases, public conference calls, public webcasts and our social media accounts as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Contacts Investors: [email protected] Media: [email protected] SOURCE 10x Genomics, Inc.

Consortium to advocate for safe AI, genomics use A consortium pushing for the safe use of advanced analytics for enhanced genetic disease diagnosis will be established with the assistance of federal government funding. The Centre for Population Genomics, a joint initiative between the Garvan Institute of Medical Research and Murdoch Children’s Research Institute, has received an A$8 million ($5.4 million) grant from the Medical Research Future Fund to establish the Australian Alliance for Secure Genomics and AI in Rare Disease (AASGARD). In Australia, at least one in 17 people is inflicted with genetic diseases such as muscular dystrophy. Half of patients reportedly cannot receive a confident diagnosis and access critical new precision medicines currently. "[The AASGARD consortium] will develop and rigorously test new AI-driven analysis tools, apply them to help tens of thousands of Australian patients, and share the resulting frameworks and knowledge so that others can benefit," shared Daniel MacArthur, professor and director of the Centre for Population Genomics. The consortium will include international partners, Microsoft Research, Genomics England, and the Broad Institute of MIT and Harvard. National inter-university network to promote digital, data for healthcare An Australian-first national network of universities has been formed to promote the application of digital technology, informatics, and data science to healthcare in the country. Composed of 36 universities, the Australian Council of Senior Academic Leaders in Digital Health will "help fast track the integration of digital health research into practice," said Annette Schmiede, CEO of the Digital Health Cooperative Research Centre (DHCRC). The council will be headed by Clair Sullivan, professor and director of the Queensland Digital Health Research Centre at the University of Queensland. According to DHCRC, the council will focus on providing strategic leadership in digital health scholarship, strengthening digital health education and scholarly research, advocating for investments in digital health education and research, and helping enhance the impact of higher education institutions. It will also explore solutions to address issues around adopting and applying digital technology in healthcare and upskilling current and future workforce. eHealth NSW to expand CDNP to rural Sydney A platform for enhancing hospital and ambulance communications across Sydney will be expanded to rural and remote areas of the city in the second half of the year. The Clinical Device Notification Platform (CDNP) seeks to improve the communications for 70 ambulance stations and 12 hospitals in the state capital, enabling paramedics and clinicians to provide timely diagnosis and expert advice. It is delivered by eHealth NSW, together with NSW Ambulance, NSW local health districts, and the Agency for Clinical Innovation. In April, new communication capabilities were added to the CDNP, including in-app audio calling, messaging, and image sharing, streamlining handovers and facilitating information sharing between paramedics, emergency clinicians, and cardiologists.