10x Genomics shares drop 12% on disappointing second-quarter preliminary results by Investing.com

By David Kirakosyan

Shares of 10x Genomics, Inc. (NASDAQ:) is down more than 12% after hours following the company’s preliminary Q2 results, with revenue projected at approximately $114.5 million (down 1% year-over-year), Missing Street’s estimate of $127.7. million.

“Our second quarter results fell short of our expectations,” said Serge Saxonov, Co-Founder and CEO of 10x Genomics. “We continue to believe strongly in the long-term opportunity, technological leadership, and underlying strength of the market. We are more excited than ever to unleash the full potential of bioengineering.” space and single cell.”