Welcome to our dedicated page for Pacific Biosciences of California news (Ticker: PACB), a resource for investors and traders seeking the latest updates and insights on Pacific Biosciences of California stock.
Pacific Biosciences of California, Inc. (NASDAQ: PACB) is a leading biotechnology company dedicated to advancing genomic science through innovative sequencing solutions. PacBio develops and manufactures sophisticated genomic analysis systems that provide invaluable insights into complex genetic challenges. These solutions are integral to the work of scientists and clinical researchers striving to enhance their understanding of the genome. The company's strategic focus on high-quality, long-read and short-read sequencing technologies has propelled it to the forefront of the genomics field.
Core Technologies and Products:
- HiFi Long-Read Sequencing: Known for unparalleled accuracy and completeness, HiFi sequencing is particularly effective for complex genomic regions like tandem repeats, structural variants, and epigenetic modifications.
- SBB® Short-Read Sequencing: Sequencing by Binding (SBB®) technology offers high accuracy and efficiency for a wide range of applications, including human germline sequencing, plant and animal sciences, and oncology.
Product Innovations and Achievements:
- Revio and Onso Systems: Recently announced at a high-profile event, these systems bring cutting-edge capabilities to genomic sequencing, reflecting PacBio's commitment to innovation.
- HiFi Prep Kit 96 and HiFi Plex Prep Kit 96: These latest offerings allow for automated, scalable, and high-performance library preparation, reducing costs and workflow times significantly.
- PureTarget Repeat Expansion Panel: This new solution targets 20 genes associated with serious neurological disorders, providing comprehensive analysis and reducing the time required for identifying disease-causing variants.
Financial Performance:
PacBio's financial results reflect its strong market presence and growth potential. The company reported a gross profit increase of 86% for the fourth quarter of 2023 compared to the same period in 2022. Despite some challenges, such as delayed instrument purchases and softer consumable shipments, PacBio remains optimistic about its long-term growth, bolstered by strategic initiatives aimed at improving commercial execution and reducing operating expenses.
Global Reach and Partnerships:
The majority of PacBio's revenue is derived from the Americas, followed by significant contributions from the Asia-Pacific region and EMEA (Europe, Middle East, and Africa). Strategic partnerships, such as the collaboration with the GREGoR Consortium for the Pediatric Mendelian Genomics Research Center program, underscore PacBio's commitment to addressing rare genetic diseases.
Future Outlook:
Looking ahead, PacBio is focused on several strategic priorities, including the continued development of its long-read and high-throughput short-read platforms, improving gross margins, and reducing annualized operating expenses. The company is dedicated to providing scientists and researchers with the most advanced sequencing technologies, enabling them to make groundbreaking discoveries and advancements in genomics.
For more information, visit www.pacb.com and follow @PacBio on Twitter.
PacBio (NASDAQ: PACB), a leading developer of high-quality sequencing solutions, has announced its participation in four major upcoming investor conferences in November and December 2024. The schedule includes appearances at the UBS Global Healthcare Conference in Rancho Palos Verdes, Wolfe Research Healthcare Conference and Piper Sandler Healthcare Conference in New York, and Stephens Annual Investment Conference in Nashville. All presentations will be available via live webcasts on PacBio's investor page, with replays accessible for at least 30 days after each event.
PacBio reported Q3 2024 financial results with revenue of $40.0 million, down from $55.7 million in Q3 2023. Instrument revenue was $16.8 million, including 22 Revio systems sold. The company reported a net loss of $60.7 million ($0.22 per share). Notable developments include the announcement of SPRQ chemistry for Revio, increasing throughput by 33%, and the launch of Vega, a new long-read benchtop sequencer priced at $169,000. Cash position stood at $471.1 million as of September 30, 2024. The company also announced a private convertible note exchange transaction of $459 million.
PacBio announced a private convertible exchange transaction involving $459 million of its 1.50% Convertible Senior Notes due 2028. In exchange, the company will issue $200 million in new 1.50% Convertible Senior Notes due 2029, issue 20,451,570 shares of common stock, and make a $50 million cash payment. The new notes will have an initial conversion rate of 204.5157 shares per $1,000 principal amount, equivalent to approximately $4.89 per share. The transaction is expected to close around November 21, 2024, and will result in no remaining 2028 Notes outstanding.
PacBio (NASDAQ: PACB) has announced the Vega™ system, its first benchtop long-read sequencing platform, priced at $169,000. The system delivers the functionality of the Revio system in a compact, lower-throughput format. Vega offers HiFi technology for accurate sequencing across various applications, including targeted sequencing, RNA sequencing, and small genome sequencing. The system can process 600 full-length RNA samples per year, 9,600 samples using the PureTarget repeat expansion panel, or 200 human genomes. Shipping is planned to begin in Q1 2025.
Volta Labs has joined the PacBio Compatible program, strengthening their partnership to provide automated library preparation solutions for PacBio sequencing customers. The collaboration centers on the Callisto Sample Prep System, which enables automated preparation of PacBio HiFi libraries with minimal hands-on time (less than 30 minutes) and 5.5 hours of walk-away time. The system supports batch sizes from 4-24 reactions and offers high yield at half-scale reactions. Recent data presented at a Genomeweb webinar demonstrated the system's impact on scaling PacBio sequencing operations, particularly benefiting organizations from core labs to biotech companies.
PacBio has announced SPRQ, a new sequencing chemistry for its Revio long-read sequencing system that brings significant improvements. The update reduces DNA input requirements by 4x to 500ng per sample and increases data output by 33% per SMRT Cell. These enhancements enable sequencing costs to drop below $500 per human genome, with each Revio system capable of sequencing up to 2,500 human genomes annually. The upgrade also improves methylation calling accuracy and adds new methylation mark detection capabilities, providing enhanced multiomic analysis. The SPRQ chemistry will be compatible with all existing Revio systems through a simple software update, with shipping beginning in December 2024.
PacBio (Nasdaq: PACB) has announced the inclusion of its Onso short-read sequencing platform in the 10x Genomics Compatible Partner Program. This program recognizes instruments and workflows compatible with 10x Genomics' products and applications, expanding sequencing solutions for researchers worldwide.
The Onso platform, known for its exceptional accuracy in short-read sequencing, aligns well with 10x Genomics' tools for single-cell and spatial biology applications. It joins PacBio's MAS-seq long read RNA sequencing solution in the program, as part of PacBio's effort to provide integrated workflows for genomics and transcriptomics research.
Key benefits of this collaboration include:
- Streamlined workflows combining PacBio's Onso platform with 10x Genomics' technologies
- Compatibility with 10x Genomics' Single Cell 3' v3.1 assay
- Enhanced data quality and efficiency in research
- Unmatched sequencing accuracy from PacBio's Onso platform
PacBio (NASDAQ: PACB) has announced a Research Collaboration Agreement with the National Cancer Centre of Singapore (NCCS) to accelerate cancer research using PacBio's advanced sequencing technologies. The collaboration will focus on profiling prevalent cancers in Asia using the Onso short-read sequencing system and Kinnex long-read sequencing kit, with emphasis on single-cell RNA sequencing.
The Onso platform, known for its exceptional accuracy, will be used to detect clinically relevant mutations across various cancer types. PacBio's authorized channel partner, DKSH, has installed the Onso platform at the Cancer Discovery Hub in NCCS. This collaboration aims to benefit Singapore and provide access to cutting-edge technology for the broader research community in Asia.
The integration of Onso for short reads and Revio for long reads will enable comprehensive multi-omics studies, offering new possibilities for precision oncology. This initiative combines short-read and long-read sequencing to explore the genomic complexities of cancers prevalent in Asia, with the ultimate goal of improving tailored diagnostic and treatment options for patients.
PacBio (NASDAQ: PACB) has announced its upcoming third quarter 2024 financial results conference call, scheduled for Thursday, November 7, 2024, at 4:30 pm Eastern Time (1:30 pm Pacific Time). Investors and interested parties can access the webcast through PacBio's investor relations website at https://investor.pacificbiosciences.com/.
For those preferring a dial-in option, the following numbers are provided:
- Toll-free: 1-888-349-0136
- International: 1-412-317-0459
Participants using the dial-in option are advised to join the call ten minutes before the start time and ask to join the 'PacBio Q3 Earnings Call'. A replay of the webcast will be available on the company's investor relations website after the call.
PacBio, A*STAR, and Macrogen have opened a state-of-the-art joint laboratory at A*STAR Genome Institute of Singapore (GIS) in Singapore. This facility will provide local researchers access to cutting-edge long-read sequencing technology, marking a significant milestone for HiFi long-read sequencing applications in precision medicine, population genomics, and health and disease biology in Southeast Asia.
The lab will house two PacBio Revio systems, known for their scalability, high throughput, and ease of use. These systems feature PacBio's proprietary HiFi sequencing technology, offering highly accurate long reads ideal for complex genomic studies and real-time methylation detection. Macrogen will provide streamlined sequencing service support, positioning the lab as a hub for genomics innovation in Singapore.
This collaboration aims to strengthen Singapore's position as a global leader in genomics research, supporting the National Precision Medicine (NPM) long-read sequencing needs and serving as a vital resource for researchers in fields such as population genetics, cancer research, and rare disease studies.
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