10X Genomics filed the paperwork for its IPO on 8/19/19. The company will raise up to $100 Million. 10X provides instruments, consumables and software for or analyzing biological systems at a resolution and scale that "matches the complexity of biology." The company will trade on NASDAQ under the symbol "TXG."
10X provides solutions and products for:
- Single Cell Gene Expression
- Single Cell Immune Profiling
- Single Cell ATAC
- Spatial Cell Expression
- Single Cell CNV
- Linked-Reads Genomics
According to the filing prospectus, the company's revenue grew by 106% in 2018 compared to 2017 ($71.1 million to $146.3 million). For the six months ended June 30, 2018 and 2019, respectively, revenue grew at an annual growth rate of 85%. However, the company generated net losses of $18.8 million and $112.5 million for 2017 and 2018.
10X generated net losses of $21.6 million and $14.5 million for the six months ended June 30, 2018 and 2019, respectively. The $14.5 million net loss included a $15.9 million accrual for estimated royalties related to ongoing litigation according to its prospectus.
In January of 2019, the company announced the closing of a $35 Million Series D round. The round was led by Meritech Capital with Fidelity and Wells Fargo participating.