Pacific Biosc Stock Price, News & Analysis

Pacific Biosciences (NASDAQ: PACB) announced a partnership with the European Reference Genome Atlas (ERGA) to enhance biodiversity research through high-quality genomic data. The collaboration aims to generate complete, error-free genome assemblies for 200,000 European plant and animal species by 2030, supporting conservation efforts. PacBio's HiFi Sequencing technology ensures reliable genetic mapping. This initiative aligns with PacBio's ongoing commitment to biodiversity genomics and global collaborative projects.

Pacific Biosciences (NASDAQ: PACB) announced on September 24, 2021, that its Compensation Committee granted stock options for 100,000 shares and restricted stock units (RSUs) for 50,000 shares to a new employee. These awards are part of the 2020 Inducement Equity Incentive Plan, introduced to attract new talent. The stock options have an exercise price of $27.99, equal to the stock's closing price on the grant date. The vesting schedule includes milestones at one year and monthly thereafter for options, while RSUs vest over four years.

Pacific Biosciences (PACB) has completed its acquisition of Omniome, enhancing its position in the sequencing market by combining long-read and short-read technologies. This acquisition is expected to accelerate the adoption of PacBio’s SMRT Sequencing platform, allowing for increased accuracy and sensitivity in clinical applications. The transaction, valued at approximately $316 million in cash and stock, is supported by a $300 million private placement financing. The integration aims to unlock new markets and improve cancer diagnostics.

Pacific Biosciences (NASDAQ: PACB) announced that its executives will participate in several upcoming investor conferences. The events include the Wells Fargo Virtual Healthcare Conference on September 10, Morgan Stanley's 19th Annual Global Healthcare Conference on September 14, and the 2021 Cantor Virtual Global Healthcare Conference on September 28. Each fireside chat will provide insights into the company's advancements in long-read sequencing technology. Live webcasts will be available on the company’s investor page, with replays accessible for 30 days post-event.

Pacific Biosciences of California (NASDAQ: PACB) announced that its executives will speak at the UBS Genomics 2.0 and MedTech Innovations Summit on August 11, 2021, at 4:00 pm Eastern Time (1:00 pm Pacific Time). The event will feature a panel discussion, and live webcasts will be accessible on the company's investor page, with replays available for at least 30 days. Pacific Biosciences specializes in highly accurate long-read sequencing technology, empowering life scientists globally to explore genetic variations for numerous applications.

Pacific Biosciences (PACB) reported record revenue of $30.6 million for Q2 2021, an increase of 79% from Q2 2020. The company placed 38 Sequels II/IIe systems, increasing the installed base to 282 units. Instrument revenue rose to $14.3 million, with consumables at $12.2 million. Gross profit surged to $13.8 million, yielding a gross margin of 45%. However, operating expenses rose to $51.3 million, leading to a net loss of $41.0 million. The company also announced plans to acquire Omniome and raised $300 million in a private placement.

Pacific Biosciences (PACB) has announced the acquisition of Circulomics Inc., a firm specializing in high-quality DNA extraction products essential for genomic workflows. This acquisition aims to enhance the front end of PacBio's sequencing workflows through Circulomics' proven Nanobind technology, which aids in obtaining high molecular weight (HMW) DNA from various samples. The financial terms of the deal were undisclosed, and its pro forma impact is not expected to be material in 2021. The company will provide further details during its fiscal second-quarter earnings call.

Pacific Biosciences (NASDAQ: PACB) announced on July 28, 2021, that it granted 29,500 restricted stock units (RSUs) to a new employee as part of its 2020 Inducement Equity Incentive Plan. The RSUs will vest over four years, with one-fourth vesting on each anniversary of the grant date, July 22, 2021. This move is intended to incentivize new employees who were not previously associated with the company, aligning with Nasdaq rules.

Pacific Biosciences (PACB) and Invitae Corporation announced an expansion of their collaboration to develop a high-throughput HiFi sequencing platform, integrating technology from Omniome, Inc. This partnership aims to enhance sequencing accuracy and sensitivity, particularly for cancer diagnostics and pathogen detection. The integration of short read sequencing technology is expected to lower analysis costs and improve clinical insights. The collaboration will commence in the second half of 2021, contingent on the completion of PACB’s acquisition of Omniome.