ATLANTA, Feb. 13, 2024 /PRNewswire/ -- VOLO Events Agency (VOLO), a leading producer of experiential marketing and live events for global brands, has won the best Event Technology award at the BizBash 11th Annual Event Experience Awards. The award recognizes the outstanding use of technology to create an immersive and engaging event experience for PacBio (NASDAQ: PACB) a pioneering leader in the Biotechnology industry. The product launch at AEG's NOVO theater in Los Angeles announced two new genomic sequenc ...

Pacific Biosciences of California (PACB) , popularly known as PacBio, recently announced two new high throughput library preparation kits and workflows, namely, HiFi Prep Kit 96 and HiFi Plex Prep Kit 96, optimized for its Revio sequencing system.With these kits, PacBio is likely to offer customers automated, scalable, high-performance library preparation solutions with a 40% cost reduction and a 60% workflow time reduction.Price PerformanceFor the past six months, PACB’s shares have declined 46.1% against ...

New Library Preparation Solutions Offer Never Before Achieved Scale for the Revio™ Sequencing System MENLO PARK, Calif., Feb. 5, 2024 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced two new high throughput library preparation kits and workflows optimized for its Revio sequencing system. With these kits, PacBio takes another leap forward in the long-read market by offering customers automated, scalable, and high-performance lib ...

Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, recently announced PanDNA, a versatile Nanobind DNA extraction kit.With the addition of this new offering, the range of sample types appropriate for long-read sequencing is now greater and includes bacteria, cells, tissue, blood, plant nuclei, and insects.Price PerformanceFor the past six months, PACB’s shares have plunged 51.8% compared with the industry’s decline of 4.8%. The S&P 500 increased 5.8% in the same time frame.Image Sou ...

Existing HT CBB Kit Enables High-Throughput Extraction of HMW DNA Tailored for HiFi With an Updated Workflow for Animal Blood and Bacteria MENLO PARK, Calif., Jan. 15, 2024 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced PanDNA, a versatile Nanobind DNA extraction kit. This new offering expands the array of sample types suitable for long-read sequencing, including cells, bacteria, blood, tissue, plant nuclei, and insects. Nano ...

PALO ALTO, Calif., Jan. 11, 2024 /PRNewswire/ -- TurnCare, a leading medical technology and services company dedicated to advancing how hospitals manage high acuity patients, is proud to announce the addition of John F. Milligan, Ph.D., investor, innovator, and former CEO of Gilead, to its Board of Directors. Dr. Milligan, a seasoned industry veteran, played a pivotal role in growing Gilead from an early-stage private company into a multi-billion-dollar business with a global footprint. Dr. Milligan's contr ...

Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, recently announced preliminary revenues for fourth-quarter 2023. The robust preliminary results drove up the company’s shares by 0.1% in the pre-market trading session.The company is expected to release fourth-quarter results in February.Per the preliminary report, fourth-quarter 2023 total revenues are estimated to be $58.4 million, up 113% year over year. The Zacks Consensus Estimate of $54.1 million lies below the preliminary fig ...

Ships a record number of PacBio sequencers in 2023, including 173 Revio™ systems, and announces record fourth quarter preliminary consumable revenue of $18.9 million as demand for long-read sequencing grows and increased capacity from the Revio system drives sample elasticity MENLO PARK, Calif., Jan. 8, 2024 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced preliminary unaudited revenue for the fourth quarter 2023 and full year 2023 ...

Revenue Performance - Revenue increased by $41.2 million, or 41%, to $142.2 million for the nine months ended September 30, 2023, compared to $101.0 million for the same period in 2022[126]. - Instrument revenue for the three months ended September 30, 2023, increased by $23.3 million, or 203%, to $34.7 million, driven by the sale of 52 Revio systems[135]. - Product revenue increased by $43.9 million, or 51%, to $129.9 million for the nine months ended September 30, 2023, compared to $85.9 million for the same period in 2022[148]. - Instrument revenue increased by $42.7 million, or 100%, to $85.3 million for the nine months ended September 30, 2023, driven by the sale of 129 Revio systems[150]. - Consumables revenue increased by $0.8 million, or 5%, to $16.9 million for the three months ended September 30, 2023, compared to $16.1 million for the same period in 2022[136]. - Consumables revenue increased by $1.3 million, or 3%, to $44.6 million for the nine months ended September 30, 2023, attributed to higher Revio consumables sales[151]. Profitability and Expenses - Gross profit margin decreased to 30% for the nine months ended September 30, 2023, down from 43% for the same period in 2022, primarily due to lower margins on Revio instruments[126]. - Gross profit decreased by $0.7 million, or 2%, to $43.2 million for the nine months ended September 30, 2023, with a gross margin of 30%, down from 43% in the prior year[154]. - Loss from operations increased by $26.8 million, or 12%, to $246.9 million for the nine months ended September 30, 2023, compared to $220.1 million for the same period in 2022[132]. - Research and development expense decreased by $7.8 million, or 5%, to $142.6 million for the nine months ended September 30, 2023, compared to $150.4 million for the same period in 2022[155]. - Sales, general and administrative expense increased by $8.0 million, or 7%, to $123.8 million for the nine months ended September 30, 2023, driven by increased marketing expenses[156]. - Merger-related expenses totaled $9.0 million for the nine months ended September 30, 2023, primarily due to the acquisition of Apton[157]. Cash and Investments - Cash, cash equivalents, and short-term investments were $767.8 million at September 30, 2023, representing a 1% decrease compared to the balance at December 31, 2022[132]. - As of September 30, 2023, cash, cash equivalents, and investments totaled $767.8 million, slightly down from $772.3 million as of December 31, 2022[164]. - Cash used in operating activities for the nine months ended September 30, 2023, was $201.6 million, compared to $202.6 million for the same period in 2022[171][172]. - Cash provided by investing activities for the nine months ended September 30, 2023, was $71.2 million, up from $35.7 million in 2022[169][174]. - Cash provided by financing activities during the nine months ended September 30, 2023, was $190.5 million, significantly higher than $8.8 million in 2022[169][175]. Acquisitions and Mergers - The company entered into a merger agreement with Apton Biosystems on August 2, 2023, issuing approximately 6.3 million shares of common stock upon closing[131]. - A deferred income tax benefit of $10.7 million was recognized for the nine months ended September 30, 2023, related to the Apton acquisition[163]. - The company paid approximately $100.9 million in cash and 9.0 million shares of common stock as milestone consideration related to the Omniome acquisition in October 2023[167]. - The company is obligated to pay $25.0 million to former Apton equity holders upon achieving $50 million in revenue from a high throughput sequencer using Apton's technology[168]. - The change in fair value of contingent consideration was $14.0 million during the nine months ended September 30, 2023, related to the Omniome acquisition milestone[159]. Other Income - Other income, net increased by $23.0 million, or 1784%, to $24.3 million for the nine months ended September 30, 2023, compared to $1.3 million for the same period in 2022[146]. - Other income for the nine months ended September 30, 2023, was $24.3 million, a significant increase from $1.3 million in the same period of 2022, primarily due to investment income[162]. Product Launches - The company commenced commercial shipments of the Onso short-read sequencing instrument in August 2023, following the launch of Revio in the first quarter of 2023[123]. - The installed base of Revio systems reached 129 by the end of the quarter, reflecting strong customer demand for the new product[126]. Financial Sensitivity - A hypothetical 100 basis-point change in interest rates would affect the fair value of the investment portfolio by approximately $2.4 million[185]. - The company has maintained a full valuation allowance on net deferred tax assets of its U.S. entities, indicating uncertainty in realizing these assets[163].

Pacific Biosciences of California, Inc. (NASDAQ:PACB) Q3 2023 Earnings Conference Call October 30, 2023 4:30 PM ET Company Participants Todd Friedman - Senior Director, Investor Relations Christian Henry - President and Chief Executive Officer Susan Kim - Chief Financial Officer Conference Call Participants Tejas Savant - Morgan Stanley Kyle Mikson - Canaccord Jack Meehan - Nephron Research Eve Burstein - Bernstein Matt Sykes - Goldman Sachs Dan Brennan - TD Cowen John Sourbeer - UBS Sung Ji Nam - Scotiaban ...