Shares of 10x Genomics, Inc. (TXG) plunged 5.08% in intraday trading on Wednesday, following news of a settlement agreement with Bruker Corporation to resolve their ongoing patent disputes. The significant drop suggests investors may be concerned about the potential financial implications of the settlement for 10x Genomics.

According to reports, Bruker and 10x Genomics have agreed to a final settlement that will result in the dismissal of multiple lawsuits. The agreement covers the withdrawal of all ongoing lawsuits and administrative proceedings filed by both companies, including litigation pending in the United States, Germany, and the European Unified Patent Court. However, the financial terms of the settlement were not disclosed, leaving room for speculation about its impact on 10x Genomics' future operations and financials.

While the resolution of legal disputes typically brings clarity and reduces uncertainty for companies, the market's negative reaction to this news suggests that investors may be interpreting the settlement as potentially unfavorable for 10x Genomics. The lack of transparency regarding the financial terms of the agreement may be contributing to the selling pressure, as shareholders attempt to gauge the possible costs or restrictions that could affect the company's business moving forward.