Pacific Biosc Stock Price, News & Analysis

Pacific Biosciences (PACB) has announced a collaboration with Invitae (NVTA) to develop a high-throughput whole genome sequencing platform. This partnership aims to make whole genome sequencing more affordable and accessible in mainstream healthcare. The new system is projected to offer comprehensive genomic insights for under $1,000, facilitating better diagnostic capabilities. Both companies will allocate significant resources to support the development, targeting scalability in clinical settings, with expectations that by 2025, as many as 60 million genomes could be sequenced globally.

Pacific Biosciences (NASDAQ: PACB) announced on January 12, 2021, the granting of stock options and restricted stock units (RSUs) under its 2020 Inducement Equity Incentive Plan. Chief Operating Officer Mark Van Oene received options for 750,000 shares and RSUs for 335,000 shares. Chief Commercial Officer Peter Fromen was granted options for 320,000 shares and RSUs for 160,000 shares. Additionally, a non-executive officer received options for 100,000 shares and RSUs for 50,000 shares. The exercise prices are set at $36.70 and $32.89 per share, linked to closing prices on respective grant dates.

Pacific Biosciences announced preliminary revenue of approximately $27 million for Q4 2020, reflecting a 41% sequential increase from Q3 2020's $19.1 million. The total revenue represents a 3% decline from Q4 2019's $27.9 million. Notably, the company placed 35 Sequel II/IIe Systems during the quarter, increasing its installed base to 203 systems. The firm also reported $94 million from a stock offering, ending the quarter with over $318 million in cash. However, COVID-19 has negatively affected annual revenues.

Pacific Biosciences (NASDAQ: PACB) announced the appointments of Mark Van Oene as COO and Peter Fromen as CCO, effective January 8, 2021. CEO Christian Henry expressed confidence that their vast experience in genomics will enhance the company’s management during a pivotal growth period. Van Oene, previously at Illumina, will oversee R&D and strategic planning, while Fromen will handle global sales and marketing. Both executives aim to expand PacBio’s influence in genomics, leveraging the company’s technology to advance applications in human health and research.

Pacific Biosciences announces the acquisition of seven Sequel IIe Systems by the Wellcome Sanger Institute, enhancing its long-read sequencing capabilities for projects focused on biodiversity. This upgrade supports initiatives including the Darwin Tree of Life and Aquatic Symbiosis Genomics, aiming to sequence up to 3,000 genomes. The Sequel IIe System offers high-quality de novo genome assemblies, combining accuracy and long reads to improve genomic research. The investment positions the institute as a leader in sequencing technology.

Pacific Biosciences of California (NASDAQ: PACB) announced the granting of stock options and restricted stock units (RSUs) to a new non-executive officer employee on December 14, 2020. The Compensation Committee approved a total of 100,000 stock options and 50,000 RSUs under the 2020 Inducement Equity Incentive Plan. The options have an exercise price of $20.90, matching the stock's closing price on the grant date. The vesting period for options and RSUs is structured over four years, enhancing the company’s ability to attract top talent.

Pacific Biosciences (NASDAQ: PACB) highlighted the utility of its long-read sequencing platform in disease surveillance during a presentation at the American Society for Microbiology NGS Conference. The company collaborates with Labcorp to sequence the genomes of over 6,500 SARS-CoV-2 viruses, improving understanding of viral evolution during the COVID-19 pandemic. PacBio's technology enables high-resolution genome sequencing, essential for monitoring viral mutations as vaccines are deployed. Future initiatives will include sequencing 20,000 archived samples to track viral evolution, enhancing disease diagnosis and treatment.

Pacific Biosciences (NASDAQ: PACB) has announced that three prominent UK laboratories—Edinburgh Genomics, Oxford Genomics Centre, and University of Liverpool Centre for Genomic Research—have expanded their investment in the company’s SMRT® Sequencing technology by adding new Sequel II and IIe Systems. This addition aims to enhance their capabilities in delivering accurate long-read sequencing services. The systems are expected to significantly benefit research applications such as variant detection and genome assembly, while PacBio’s HiFi sequencing promises high accuracy and comprehensive genetic insights.

Pacific Biosciences of California (Nasdaq: PACB) has priced an underwritten public offering of 7,400,460 shares at $14.25 each, aiming to raise approximately $86.9 million. The company will offer 6,096,112 shares while a selling stockholder is offering 1,304,348 shares. The offering is expected to close around November 13, 2020, pending customary conditions. Proceeds will fund product launches, R&D, and general corporate purposes, with potential investments in complementary businesses or technologies. Morgan Stanley and Cowen are the joint book-running managers.