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Simplifying LSTDx – Episode 4: Single Cell and Spatial Biology

发布日期: 2026-07-27研究机构: Morgan Stanley公司 / 股票: TXG.O报告页数: 10原文语言: English证据页码: 2

研报英文原文证据摘录

Simplifying LSTDx – Episode 4: Single Cell and Spatial Biology

arch? While single cell provides information

on cell composition, spatial biology preserves a cell's location and provides context

for cell behavior within a spatial context. Using the above example of a tumor tissue

sample, spatial biology can provide insights such as what the immune cells are doing

next to tumor cells relative to what immune cells are doing next to adipocyte cells,

and what genes are active in what regions.

Atera has potential to transform spatial biology research. Our KOL has pre-

ordered an Atera (which he expects to be delivered in the September/October

timeframe) and was bullish on the instrument's potential to drive broader spatial

biology adoption. Historically, spatial biology research has required compromises

among a number of factors such as gene count (plex), sensitivity, cell resolution,

FFPE compatibility, and imaging time. In addition, researchers traditionally had two

experiments paths: (1) profile by single cell, identify genes of interest, then run a

spatial cohort on the targeted genes with Xenium; or (2) run an untargeted method

like Visium, with no upfront hypothesis required. The KOL noted that the former is

expensive and time consuming, while the latter comes with a sensitivity penalty.

With Atera, researchers will no longer be required to make compromises between

plex/sensitivity and other factors. The KOL expects a cannibalization effect on TXG's

current spatial portfolio, noting that if all goes well, they'd expect to stop using

Xenium next year. However, with better data quality, Atera could unlock adoption

among pharma customers by generating more insights and giving pharma more

confidence to invest in spatial (though the KOL believed this was something to

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