Welcome to our dedicated page for Pacific Biosc news (Ticker: PACB), a resource for investors and traders seeking the latest updates and insights on Pacific Biosc stock.
PacBio (Pacific Biosciences of California, Inc., NASDAQ: PACB) is a life science technology company focused on advanced genetic sequencing, and its news flow reflects developments across genomics research, collaborations, and financial performance. The company regularly issues press releases describing how its HiFi long-read sequencing platforms are being adopted in human health, rare disease research, and other genomics applications.
Recent PacBio news highlights planned collaborations with organizations such as the n-Lorem Foundation and EspeRare to apply long-read whole-genome sequencing in research on individualized antisense oligonucleotide therapies for ultra-rare and nano-rare genetic diseases. Other coverage includes projects where PacBio HiFi sequencing is used as a first-line whole-genome approach in studies of Sudden Unexplained Death in Childhood, and multi-center research through the HiFi Solves Consortium evaluating the clinical research utility of HiFi genomes in complex genomic regions.
Investors and researchers following PACB news will also find updates on technology advances, such as the community-developed CiFi long-read 3C method that integrates chromatin conformation capture with HiFi sequencing, and regulatory milestones achieved through partners like Berry Genomics in China with the Sequel II CNDx system. Financial news includes quarterly and preliminary annual revenue announcements, details on instrument and consumable performance, and commentary on new sequencing chemistries and assay portfolios.
This PACB news page on Stock Titan aggregates these types of announcements so readers can track PacBio’s research collaborations, technology developments, regional partnerships, and earnings-related updates in one place. Users interested in genomic sequencing, long-read technologies, and the business outlook for PacBio can review the latest press releases and historical news items to understand how the company’s platforms are being used and how management describes its progress.
Pacific Biosciences (NASDAQ:PACB) launched the Sequel IIe System, enhancing its SMRT Sequencing technology for faster, cost-effective genome and transcriptome data generation. The system features advanced on-instrument processing allowing direct production of highly accurate long reads (HiFi reads), reducing secondary analysis time by up to 70% and data storage needs by 90%. This innovation aims to simplify high-accuracy sequencing, making it accessible for various projects and supporting significant advancements in human genetics.
Pacific Biosciences (NASDAQ: PACB) announced the appointment of Susan G. Kim as Chief Financial Officer, effective September 28, 2020. Her extensive experience includes CFO roles at App Annie and Katerra, where she focused on revenue growth and operational scaling. CEO Christian Henry expressed confidence in Kim's ability to enhance company performance. With over 20 years in finance, her background spans significant global firms. The company continues to lead in high-quality genomic sequencing technologies, underlining its commitment to innovation in life sciences.
Pacific Biosciences of California (Nasdaq: PACB) has announced a priced public offering of 19,430,000 shares at $4.47 per share, expected to close on August 14, 2020. The company anticipates receiving gross proceeds of approximately $86.9 million, not including overallotment. Proceeds will be used for product launches, R&D, commercial expansion, and potential investments in complementary businesses. The offering is led by Morgan Stanley and Cowen, with a 30-day option for underwriters to purchase an additional 2,914,500 shares.
Pacific Biosciences (PACB) announced a public offering of $75 million in common stock, with an option for underwriters to purchase an additional $11.25 million. The proceeds will be used for new product launches, research and development, and expanding commercial infrastructure. The offering is subject to market conditions and may not be completed as anticipated. The company has filed a registration statement with the SEC, effective July 14, 2020, and a preliminary prospectus will be available for investors.
Pacific Biosciences (NASDAQ: PACB) announced the appointment of Christian O. Henry as CEO, effective September 14, 2020. Henry has served on the Board since 2018 and brings valuable experience to lead the company into a new growth phase. Dr. John F. Milligan will take over as Chairman of the Board. Dr. Michael Hunkapiller will retire from an active role but continue as a Senior Fellow and board member. Ben Gong has been named interim CFO. The leadership change aims to enhance innovation and market presence in genomic sequencing.
Pacific Biosciences (PACB) reported Q2 2020 revenues of $17.1 million, down from $24.6 million in Q2 2019. Instrument revenue fell to $8.9 million from $12.7 million, while consumables dropped to $4.8 million from $8.6 million. The company recorded a net loss of $23.1 million compared to a $24.6 million loss last year. Cash and investments increased to $120.0 million, up from $49.1 million at year-end 2019. The ongoing COVID-19 pandemic impacted operations, leading to lower product revenues.
Pacific Biosciences (NASDAQ: PACB) is set to hold its quarterly conference call on August 3, 2020, at 4:30 PM ET to discuss the Second Quarter 2020 Financial Results. Investors and interested parties can access the call via live webcast on the company’s website. The conference will provide insights into the company's financial performance during the quarter, along with discussions on future outlook and strategic initiatives. Call-in options are also available for those wishing to participate directly.
Pacific Biosciences (NASDAQ: PACB) announces the retirement of CEO Dr. Michael Hunkapiller and CFO Susan K. Barnes. Dr. Hunkapiller will remain on the Board of Directors post-retirement, while Ms. Barnes will exit in August 2020. The Board is actively searching for successors for both roles. Under Dr. Hunkapiller's leadership, the company has advanced its SMRT® technology significantly, becoming a leader in long-read sequencing used in top research centers globally. The transition aims to ensure the company's ongoing innovation and commercial success.
Pacific Biosciences (NASDAQ: PACB) has rescheduled its 2020 Annual Meeting of Stockholders from June 18 to August 4, 2020, switching to a virtual format due to COVID-19. The record date for stockholders eligible to vote has been updated to June 15, 2020. Additionally, the company plans to revise its proposal for the 2020 Equity Incentive Plan, allowing stockholders more time to review it. Other proposals previously outlined in the proxy statement will remain unchanged. Stockholders must register online to attend the virtual meeting.
Pacific Biosciences (PACB) reported Q1 2020 financial results, showing total revenue of $15.6 million, down from $16.4 million in Q1 2019. Instrument revenue fell to $4.0 million from $5.6 million, while consumables revenue increased to $8.3 million from $7.8 million. The company achieved a net income of $1.3 million, contrasting last year's $30.3 million net loss, primarily due to $34.0 million from Illumina’s Continuation Advances. As of March 31, 2020, cash and investments totaled $142.6 million.
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