Pacific Biosc Stock Price, News & Analysis

PacBio (NASDAQ: PACB) announced a new informatics tool called Paraphase that enhances the analysis of difficult-to-genotype gene paralogs and pseudogenes. This tool allows for accurate variant calling and copy number analysis by identifying full gene sequences in gene families. Paraphase has successfully analyzed genes related to significant health issues, including spinal muscular atrophy, and has shown potential in identifying silent carriers in populations with variable gene copies. The method promises improvements in the accuracy of genetic research, particularly in complex genomic regions.

PacBio (NASDAQ: PACB) announces the launch of its Revio long-read sequencing systems, aimed at enhancing genomic research. Beginning March 8, 2023, the Revio system allows researchers to generate 15 times more HiFi data for under $1,000. Major customers include Baylor College of Medicine and the Broad Institute, with Broad ordering 10 systems, equating to the capacity of 150 Sequel IIe units. PacBio recorded orders for 76 Revio systems in Q4 2022, marking a significant milestone. The company aims to ship 25 Revio systems in Q1 2023, continuing to scale throughout the year.

PacBio (NASDAQ: PACB), a leader in high-quality sequencing solutions, will participate in Cowen's 43rd Annual Health Care Conference on March 7, 2023, at 12:50 PM ET. The event will feature a fireside chat with company management, available via a live and archived webcast on the investor page at pacb.com. PacBio is focused on addressing complex genetic challenges through advanced sequencing technologies, including HiFi long read and SBB short read sequencing. The company's solutions are applicable across various research domains, such as human germline sequencing, oncology, and infectious disease.

PacBio (NASDAQ: PACB) reported its Q4 and fiscal year 2022 financial results, revealing a 24% revenue decline to $27.4 million compared to $36.0 million in the previous year. Instrument revenue fell to $6.1 million, while consumables revenue increased to $16.7 million. The company recorded a net loss of $84.4 million in Q4, worsening from a loss of $69.3 million in Q4 2021, leading to a net loss per share of $0.37. For the fiscal year, total revenue of $128.3 million was down 2% from 2021, with a net loss of $314.2 million, up from $181.2 million the prior year. Despite challenges, PacBio noted increased orders for its Revio systems and a robust cash position of $772.3 million.

On February 7, 2023, PacBio (NASDAQ: PACB) announced plans to enhance its Multiplexed Arrays Sequencing (MAS-Seq) technology for new assays on the Sequel II/IIe and Revio systems. This initiative follows the successful introduction of MAS-Seq, which significantly increases throughput for single-cell isoform sequencing by up to 16-fold. The company aims to expand applications to bulk RNA sequencing and 16S rRNA studies, offering cost-effective solutions and comprehensive software. PacBio anticipates launching the first expanded MAS-Seq kits in the second half of 2023, addressing customer demand for full-length RNA sequencing.

PacBio (NASDAQ: PACB) announced it will hold a conference call on February 16, 2023, at 4:30 PM ET to discuss its fourth quarter and full year 2022 financial results. The call will be accessible via webcast on the company's investor relations website. PacBio is known for developing advanced sequencing solutions aimed at resolving complex genetic problems, utilizing its HiFi long read and emerging SBB® short read sequencing technologies for various research applications, including oncology and infectious diseases.

Pacific Biosciences of California (PACB) announced the pricing of its public offering of 17,500,000 shares at $10.00 each, aiming to raise approximately $175 million. The underwriters, including Goldman Sachs and Morgan Stanley, have a 30-day option for an additional 2,625,000 shares. The proceeds will be utilized for research and development, expanding commercial infrastructure, and general corporate purposes. The offering is set to close on January 27, 2023, pending customary conditions.

Pacific Biosciences of California (NASDAQ: PACB) plans to offer $150.0 million in common stock through an underwritten public offering, with an additional $22.5 million option for underwriters. Proceeds will support research and development, expand commercial infrastructure, and cover general corporate expenses. The offering is subject to market conditions and is filed under a shelf registration statement with the SEC. Notably, there are no current commitments for additional acquisitions despite the potential for investing in complementary businesses and technologies.