Item 7.01 Regulation FD Disclosure.
The ITC 1100 Action
On January 11, 2018, 10x Genomics, Inc. (the "Company") filed a complaint
against Bio-Rad Laboratories, Inc. ("Bio-Rad") at the International Trade
Commission ("ITC") pursuant to Section 337 of the Tariff Act of 1930 alleging
that Bio-Rad infringes our U.S. Patent Nos. 9,644,204, 9,689,024, 9,695,468 and
9,856,530 (the "ITC 1100 Action"). The judge issued an Initial Determination on
July 12, 2019 finding that Bio-Rad's ddSEQ products infringe the '024, '468 and
'530 patents. The judge also found all of our asserted patents to be valid and
rejected Bio-Rad's claim of ownership in all of the asserted patents.
On February 12, 2020, the ITC issued its Final Determination affirming the
judge's findings with respect to Bio-Rad's violation of the '024, '468 and '530
patents, including the judge's findings for those patents with respect to
infringement, validity and ownership. The ITC issued an exclusion order
prohibiting Bio-Rad from importing into the United States infringing
microfluidic devices, components thereof and products containing same, including
the ddSEQ products. The ITC also issued a cease and desist order preventing
Bio-Rad from selling such imported products in the United States. The ITC's
remedial orders do not identify any ddSEQ assay as exempted from their potential
scope. The ITC orders do not prohibit the importation or sale of microfluidic
consumables imported into the U.S. for use by researchers who are using such
consumables as of February 12, 2020, and who have a documented need to continue
receiving such consumables for a specific current ongoing research project for
which that need cannot be met by any alternative product. The Final
Determination is subject to a 60-day presidential review period. We expect
Bio-Rad to appeal the Final Determination to the Court of Appeals for the
Federal Circuit. We expect appeals to be completed in mid 2021.
Forward-Looking Statements
Statements in this Current Report on Form 8-K that are not statements of
historical fact are forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended (the "Securities Act"), and
Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), which are subject to the "safe harbor" created by those sections. Such
forward-looking statements include, without limitation, statements concerning
the Company's plans, objectives, goals, beliefs, including the Company's belief
that appeals in the ITC 1100 Action will be completed in mid 2021, business
strategies, future events, business conditions, results of operations, financial
position, business outlook, business trends and other information.
Forward-looking statements generally can be identified by the use of
forward-looking terminology such as "may," "will," "should," "expect," "plan,"
"anticipate," "could," "intend," "target," "project" "contemplate," "believe,"
"estimate," "predict," "potential" or "continue" or the negatives of these terms
or variations of them or similar terminology. Among the factors that could cause
actual results to differ materially from those indicated in the forward-looking
statements are risks and uncertainties associated with the Company's business
and financial condition in general, including the risks and uncertainties
described under "Risk Factors" in the Company's prospectus filed with the
Securities and Exchange Commission ("SEC") on September 12, 2019, and in the
Company's Quarterly Report on Form 10-Q filed with the SEC on November 12, 2019,
as such risk factors may be updated from time to time in the Company's periodic
filings with the SEC. Such prospectus, such Quarterly Report on Form 10-Q and
the Company's other periodic filings are accessible on the SEC's website
at www.sec.gov. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this report. All
forward-looking statements are qualified in their entirety by this cautionary
statement, and the Company undertakes no obligation to revise or update any
forward-looking statements to reflect events or circumstances after the date of
this report.
Information Furnished Pursuant to Item 7.01
The information furnished pursuant to Item 7.01 in this Current
Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the
Exchange Act, or otherwise subject to the liabilities of that section, nor shall
it be deemed incorporated by reference into any other filing under the
Securities Act or the Exchange Act, except as expressly set forth by specific
reference in such a filing.
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