Pacific Biosciences of California, Inc. reports developments in long-read sequencing systems and genomic-analysis workflows. The company designs, develops, and manufactures sequencing solutions, including HiFi long-read sequencing technology, for research applications such as human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, rare disease research, metagenomics, and reproductive genetics.
Recurring PACB updates include quarterly financial results, Revio system adoption, chemistry and library-preparation workflows, partner integrations for bioinformatics and sample preparation, research consortia using HiFi whole genome data, and governance changes. Company releases also reflect its focus on long-read sequencing following the completed disposition of short-read sequencing assets.
PacBio (NASDAQ: PACB) has announced significant advancements in its Sequel II/IIe platform, enabling DNA methylation calling in native DNA and faster sample preparation. These enhancements provide access to the epigenome without additional costs or complexity, unlocking new research opportunities. The update also simplifies workflows, reducing preparation time by over 50% and required DNA inputs by 40%. With new features supporting gene therapy applications, the enhancements aim to improve the quality and depth of genomic insights for researchers.
PacBio (NASDAQ: PACB) will host its first-quarter 2022 financial results conference call on May 4, 2022, at 5:00 pm Eastern Time. The call will be accessible via webcast on the company's website. PacBio specializes in long-read sequencing technology, enhancing genomic research through its innovative instruments. This technology enables comprehensive analysis of genomes, transcriptomes, and epigenomes, thus significantly contributing to various scientific fields including human biomedical research and microbiology.
PacBio (NASDAQ: PACB) announced a collaboration with Corteva Agriscience to advance plant biotechnology using high-throughput whole genome HiFi sequencing. This partnership aims to develop custom workflows for sequencing plant, pest, and microbial samples, enhancing DNA extraction and library preparation processes. The initiative is essential for addressing agricultural demands amid population growth. The initial phase, scheduled for completion in Q3 2022, focuses on scalable workflows to support extensive DNA sample collections from Corteva.
PacBio announces its significant role in completing the first truly complete human reference genome, as detailed in a publication from the Telomere-to-Telomere (T2T) Consortium in Science. This achievement utilized HiFi sequencing technology to assembly all three billion base pairs across 23 chromosomes, covering previously inaccessible regions. The T2T-CHM13 reference genome introduces nearly 200 million base pairs of novel sequences, improving studies on genetic diseases such as FSHD. The success of this assembly is expected to drive genomic discoveries and better understand human health.
PacBio (NASDAQ: PACB) has announced the establishment of a new European headquarters in London, set to open on April 4, 2022, aimed at addressing the growing customer demand in the EMEA region. Additionally, the company has partnered with Genesupport, the first commercial service provider to offer PacBio sequencing services in Europe. This strategic expansion is designed to enhance commercial support and collaboration for laboratories utilizing PacBio's HiFi sequencing technology. The new headquarters will include extensive lab space for customer training and development projects.
PacBio has partnered with SickKids in Toronto to use HiFi whole genome sequencing (HiFi WGS) to find genetic variants linked to medical conditions. Despite advancements in genetic testing, over 50% of cases remain undiagnosed. HiFi WGS will analyze samples from patients with suspected genetic conditions, such as autism and congenital diseases. The technology aims to uncover previously unidentified genomic variants. This collaboration represents an important step in genetic disease research, potentially enhancing detection capabilities.
PacBio (NASDAQ: PACB) announced the granting of stock options and restricted stock units (RSUs) totaling 150,000 shares to a newly hired employee under the 2020 Inducement Equity Incentive Plan, effective February 22, 2022. The options have an exercise price of $10.32 per share, matching the closing stock price on the effective date. The vesting schedule includes a one-year cliff and monthly vesting thereafter for the options, while the RSUs will vest annually over four years.
PacBio (NASDAQ: PACB) has appointed Michael Eberle, Ph.D., as Vice President of Computational Biology. Eberle, a seasoned genomics expert with over 20 years of experience, will lead the bioinformatics and data sciences program to enhance PacBio’s genomic analysis capabilities. His leadership, particularly from his previous role at Illumina, is expected to drive innovation and support the growing global customer base. The company remains committed to its mission of advancing genomic research through long- and short-read sequencing technologies.
PacBio has partnered with KK Women’s and Children’s Hospital to enhance the understanding of genetic causes related to neurodevelopmental disorders in children.
This collaboration is part of the BRIDGES program, aiming to improve diagnostic yields beyond the 39% achieved by current short-read sequencing methods. By using PacBio’s HiFi long-read sequencing technology, they hope to address unresolved rare diseases and establish a bioinformatics pipeline for better variant detection.
Leadership from both organizations underscores the potential to improve health outcomes for affected families.
PacBio (NASDAQ: PACB) reported record fourth quarter revenues of $36.0 million, a 33% increase from the previous year. The company expanded the installed base of its Sequel II/IIe systems by 84% to 374. Key advancements include the launch of the HiFiViral SARS-CoV-2 Kit and collaborations with Genomics England and Google. Despite these achievements, PacBio experienced a net loss of $69.3 million for the quarter, a decline from $74.9 million net income in Q4 2020. For fiscal year 2021, revenue rose to $130.5 million, a 65% increase, yet net loss was $181.2 million.