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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.
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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