10x Genomics Unveils Chromium Xo: A Low-Cost Instrument to Expand Access to High-Performance Single Cell Research

Rhea-AI Summary

10x Genomics has launched Chromium Xo, a new low-cost single cell instrument priced at $25,000, aimed at expanding access to high-performance single cell research. This addition to the Chromium fleet is designed for researchers with budgets, offering high-quality data and superior reproducibility.

Key features of Chromium Xo include:

• Compatibility with the GEM-X 3' assay, providing up to 80% cell capture and 40% higher gene sensitivity
• Potential for 50% savings on sequencing costs compared to non-10x methods
• Automation for partitioning hundreds of thousands of cells in minutes
• Intuitive push-button interface for efficient cell processing

The instrument aims to democratize single cell analysis and drive towards the goal of enabling high-performance analysis for $100 per sample.

Positive

• Launch of Chromium Xo, a low-cost single cell instrument priced at $25,000
• GEM-X 3' assay offers up to 80% cell capture and 40% higher gene sensitivity
• Potential for 50% savings on sequencing costs compared to non-10x methods
• Automation and intuitive interface improve efficiency and reproducibility
• Path for researchers to upgrade to Chromium X for access to full single cell portfolio

Negative

• None.

Insights

Biotech Industry Analyst

The launch of Chromium Xo represents a significant market expansion strategy for 10x Genomics. By offering a $25,000 instrument, they're targeting budget-conscious researchers and smaller labs, potentially increasing their market share. This move could accelerate the adoption of single cell analysis in academic and emerging biotech settings.

The emphasis on cost-efficiency, including 50% savings on sequencing costs, addresses a key barrier in the field. If successful, this could lead to increased consumables revenue for 10x Genomics. However, investors should monitor whether this lower-priced option cannibalizes sales of higher-end models. The upgrade path to Chromium X is a smart retention strategy, potentially driving future upsells.

Financial Analyst

While the $25,000 price point of Chromium Xo is attractive, its impact on 10x Genomics' financials needs careful consideration. The lower price could boost unit sales but might pressure average selling prices and gross margins. The key to profitability will lie in the consumables and upgrades strategy.

Investors should focus on:

• Adoption rates and their effect on overall instrument sales mix
• Changes in consumables revenue per instrument
• Upgrade rates to higher-end models

If Chromium Xo successfully expands the market without cannibalizing premium sales, it could drive significant long-term growth. However, initial margin pressure may occur as the product mix shifts.

Market Research Analyst

The introduction of Chromium Xo could be a game-changer in the single cell analysis market. By significantly lowering the entry barrier, 10x Genomics is poised to capture a larger share of the academic and small biotech segments, which have been price-sensitive. This move may force competitors to respond, potentially triggering a price war in the industry.

The focus on ease of use and automation addresses key pain points in manual workflows, which could accelerate market adoption. The promise of $100 per sample analysis in the future suggests a strong product roadmap. If achieved, this could dramatically expand the total addressable market, driving substantial growth for 10x Genomics and the entire single cell analysis field.

PLEASANTON, Calif., Sept. 3, 2024 /PRNewswire/ -- 10x Genomics, Inc. (Nasdaq: TXG), a leader in single cell and spatial biology, today announced the launch of Chromium Xo, a new addition to its fleet of Chromium single cell instruments. Designed to meet the needs of researchers who desire high-quality data on limited budgets, Chromium Xo offers an affordable entry point into routine, high-performance single cell analysis.

"Chromium Xo is the latest in a series of 10x innovations intended to democratize single cell analysis because we never want researchers to have to settle for anything less than the best," said Ben Hindson, Chief Scientific Officer and Co-founder. "With Chromium Xo, we're not just lowering the cost barrier; we're empowering more researchers to achieve high-quality, repeatable results necessary for meaningful scientific breakthroughs."

Chromium Xo is 10x Genomics' most affordable single cell instrument, delivering the high-quality data, superior reproducibility and ease of use that the company's instrument-powered workflows are known for, at a U.S. list price of $25,000.

Chromium Xo is specifically designed to run 10x Genomics' industry-leading GEM-X 3' assay, which provides up to 80% cell capture and more than 40% higher gene sensitivity compared to alternative non-10x methods. GEM-X technology also enables researchers to generate more usable reads to detect more genes with less sequencing, potentially saving more than 50% on sequencing costs compared to non-10x methods.

In addition, there is a path for researchers to seamlessly upgrade to Chromium X to access the full breadth of the company's single cell portfolio, including assays for FFPE samples and immune profiling.

With features like automation to partition hundreds of thousands of cells in minutes and an intuitive push-button interface for efficient cell processing, Chromium instruments remove many of the challenges and inconsistencies of manual, instrument-less workflows. The instrument-powered Chromium platform enables high data quality and twice the sample recovery as manual methods. In addition, Chromium instruments streamline the workflow, improve scalability and enable superior reproducibility, resulting in less hands-on time, lower labor and experimental costs and faster time to results compared to alternative single cell workflows.

Added Hindson, "Our ultimate goal is to enable high-performance single cell analysis for $100 per sample. With Chromium Xo and what's planned in our pipeline, we are continuing to drive our Chromium technology in that direction so more researchers can rely on these methods more often."

Chromium Xo is now shipping globally.

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," "see," "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, but are not limited to, statements regarding 10x Genomics, Inc.'s ("10x Genomics") and others' product launches, performance, configuration, costs, capabilities, requirements, workflows, adoption and pipeline. 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 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" 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 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 (www.10xgenomics.com), 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: investors@10xgenomics.com
Media: media@10xgenomics.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/10x-genomics-unveils-chromium-xo-a-low-cost-instrument-to-expand-access-to-high-performance-single-cell-research-302237175.html

SOURCE 10x Genomics, Inc.

FAQ

What is the price of the new Chromium Xo instrument from 10x Genomics (TXG)?

The Chromium Xo instrument from 10x Genomics (TXG) has a U.S. list price of $25,000.

What are the key features of the Chromium Xo instrument from 10x Genomics (TXG)?

Key features include compatibility with GEM-X 3' assay, up to 80% cell capture, 40% higher gene sensitivity, potential for 50% sequencing cost savings, automation for cell partitioning, and an intuitive push-button interface.

How does the Chromium Xo from 10x Genomics (TXG) compare to alternative single cell workflows?

Chromium Xo offers higher data quality, twice the sample recovery, improved scalability, and superior reproducibility compared to manual, instrument-less workflows. It also results in less hands-on time, lower labor and experimental costs, and faster time to results.

What is 10x Genomics' (TXG) goal for the cost of high-performance single cell analysis?

10x Genomics (TXG) aims to enable high-performance single cell analysis for $100 per sample, with Chromium Xo being a step towards this goal.