Cytek Biosciences Shares Drop After Jury Says It Owes $56 Million in Damages
By Dean Seal
Shares of Cytek Biosciences fell after the company said it would challenge a jury's decision to make it pay $56 million in damages in a patent infringement case.
The stock was down 7.2% at $4.47 Monday. Shares are now down 12% since the start of the year.
The company said Friday that in a patent infringement lawsuit brought by Beckman Coulter, a jury found in Cytek's favor on three of four claims. On the remaining claim, the jury found no literal infringement, but did find infringement under the doctrine of equivalents.
The jury awarded past damages consisting of $20 million in lost profit and $36.1 million in royalties. Cytek said it would pursue post-verdict motions challenging the jury's infringement finding and the related damages.
Beckman Coulter had alleged that Cytek's Aurora flow cytometers violated Beckman's patent rights for technology used in its CytoFLEX platform.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
August 24, 2026 10:24 ET (14:24 GMT)
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