Pacific Biosc - PACB STOCK NEWS

PacBio has partnered with SickKids in Toronto to use HiFi whole genome sequencing (HiFi WGS) to find genetic variants linked to medical conditions. Despite advancements in genetic testing, over 50% of cases remain undiagnosed. HiFi WGS will analyze samples from patients with suspected genetic conditions, such as autism and congenital diseases. The technology aims to uncover previously unidentified genomic variants. This collaboration represents an important step in genetic disease research, potentially enhancing detection capabilities.

PacBio (NASDAQ: PACB) announced the granting of stock options and restricted stock units (RSUs) totaling 150,000 shares to a newly hired employee under the 2020 Inducement Equity Incentive Plan, effective February 22, 2022. The options have an exercise price of $10.32 per share, matching the closing stock price on the effective date. The vesting schedule includes a one-year cliff and monthly vesting thereafter for the options, while the RSUs will vest annually over four years.

PacBio (NASDAQ: PACB) has appointed Michael Eberle, Ph.D., as Vice President of Computational Biology. Eberle, a seasoned genomics expert with over 20 years of experience, will lead the bioinformatics and data sciences program to enhance PacBio’s genomic analysis capabilities. His leadership, particularly from his previous role at Illumina, is expected to drive innovation and support the growing global customer base. The company remains committed to its mission of advancing genomic research through long- and short-read sequencing technologies.

PacBio has partnered with KK Women’s and Children’s Hospital to enhance the understanding of genetic causes related to neurodevelopmental disorders in children.

This collaboration is part of the BRIDGES program, aiming to improve diagnostic yields beyond the 39% achieved by current short-read sequencing methods. By using PacBio’s HiFi long-read sequencing technology, they hope to address unresolved rare diseases and establish a bioinformatics pipeline for better variant detection.

Leadership from both organizations underscores the potential to improve health outcomes for affected families.

PacBio (NASDAQ: PACB) reported record fourth quarter revenues of $36.0 million, a 33% increase from the previous year. The company expanded the installed base of its Sequel II/IIe systems by 84% to 374. Key advancements include the launch of the HiFiViral SARS-CoV-2 Kit and collaborations with Genomics England and Google. Despite these achievements, PacBio experienced a net loss of $69.3 million for the quarter, a decline from $74.9 million net income in Q4 2020. For fiscal year 2021, revenue rose to $130.5 million, a 65% increase, yet net loss was $181.2 million.

PacBio announced that its executives will present at two upcoming investor conferences: the 11th Annual SVB Leerink Global Healthcare Conference on February 16, 2022, at 3:00 pm ET, and the Cowen 42nd Annual Health Care Conference on March 7, 2022, at 1:30 pm ET. Both presentations will be accessible via live webcasts at PacBio's investors page, with replays available for 30 days. PacBio, traded on NASDAQ under the symbol PACB, specializes in advanced sequencing technology that enhances genetic research across various scientific fields.

PacBio (NASDAQ: PACB) announced it will hold its quarterly conference call to discuss the fourth quarter and full year 2021 financial results on February 15, 2022, at 4:30 pm ET. This call will be accessible via a live webcast on the Pacific Biosciences website. The company aims to provide insights into its financial performance and future outlook, reflecting its commitment to empowering life scientists through advanced sequencing technologies.

PacBio (NASDAQ: PACB) announced on January 14, 2022, that its Compensation Committee granted non-qualified stock options for 80,000 shares and restricted stock units (RSUs) for 40,000 shares to a new employee. This action is part of the 2020 Inducement Equity Incentive Plan, aimed at attracting talent. The options have an exercise price of $16.58, equal to the stock's closing price on January 10, 2022. Vesting for options and RSUs will occur over four years, aligning employee incentives with long-term company performance.

PacBio has appointed Lara Toerien, Ph.D., as Vice President and General Manager for the Americas region, aiming to enhance its commercial growth strategy. Toerien brings over 25 years of experience, previously serving as Senior Regional Sales Director at Illumina. She will focus on expanding the adoption of PacBio’s long-read sequencing technology across various fields, including infectious diseases and genomics. PacBio’s innovative SMRT Sequencing technology is well-regarded in the scientific community, facilitating comprehensive genetic analysis globally.