Core Insights - PacBio has appointed Chris Smith, CEO of NeoGenomics, to its Board of Directors, effective immediately, while David Meline steps down from the Board [1][4] - Chris Smith brings extensive experience in genomics, diagnostics, and corporate strategy, having led NeoGenomics in its growth and innovation in precision medicine [2][3] - The addition of Smith is expected to enhance PacBio's efforts to expand into the clinical genomics market, leveraging his expertise in clinical diagnostics [3][4] Company Overview - PacBio is a leading life science technology company focused on developing advanced sequencing solutions to address complex genetic problems [5] - The company utilizes two core technologies: HiFi long-read sequencing and SBB® short-read sequencing, applicable across various research fields including oncology, infectious disease, and microbiology [5] - PacBio's products are designated for research use only and are not intended for diagnostic procedures [6]

MENLO PARK, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leader in high-quality, long-read sequencing, is proud to announce its critical role in a study to be published in Nature Genetics. The study, titled Synchronized long-read genome, methylome, epigenome, and transcriptome for resolving a Mendelian condition, showcases how researchers leveraged PacBio's advanced sequencing solutions, including the synchronized Fiber-seq and Kinnex (formerly MAS-seq) multiomic approach, to uncover th ...

New sequencing approach resolves the genetic complexity of a rare Mendelian conditionMENLO PARK, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leader in high-quality, long-read sequencing, is proud to announce its critical role in a study to be published in Nature Genetics. The study, titled Synchronized long-read genome, methylome, epigenome, and transcriptome for resolving a Mendelian condition, showcases how researchers leveraged PacBio’s advanced sequencing solutions, including the ...

Core Insights - PacBio has announced the Global Institute for Food Security (GIFS) at the University of Saskatchewan as the first Revio PacBio Certified Service Provider in Canada, enhancing access to high-quality sequencing solutions [1][4][6] Company Overview - PacBio is a leading life science technology company focused on developing advanced sequencing solutions, including HiFi long-read and SBB short-read sequencing technologies, aimed at resolving genetically complex problems across various research applications [7] Service Provider Details - GIFS will utilize PacBio's HiFi sequencing technology through its Omics and Precision Analytics Laboratory (OPAL) platform, providing researchers with access to accurate long-read sequencing data for complex genetic studies [2][3] - The certification as a PacBio Certified Service Provider indicates that GIFS has the necessary expertise and infrastructure to deliver high-quality sequencing solutions, including genome assemblies and transcriptomics [3][4] Research and Development Impact - The partnership aims to support Canadian researchers in addressing global challenges such as food security and agricultural sustainability by providing them with advanced genomics solutions [4][5] - GIFS' OPAL platform offers full-service genomics solutions, including automation and advanced data analysis, positioning it as a valuable resource for large-scale genomic projects [4][5] Strategic Importance - The addition of GIFS to PacBio's Certified Service Provider network reflects the company's commitment to making its advanced sequencing solutions accessible to researchers globally [6]

Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, has been gaining from its continued product development. The optimism, led by decent 2024 preliminary results and restructuring initiatives, is expected to contribute further. However, long purchasing cycles and business seasonality concerns persist.In the past six months, this Zacks Rank #3 (Hold) company’s shares have lost 8.1% against 4.8% growth of the industry. The S&P 500 Composite has also gained 9.4% in the said time frame.T ...

Core Insights - The publication from Radboud University Medical Center highlights the effectiveness of PacBio's HiFi long-read sequencing technology in identifying genetic causes of rare diseases, suggesting a potential shift towards a more comprehensive diagnostic approach [1][3] Company Summary - Following the announcement, PacBio's shares fell by 7.9% to $1.85, with a 6-month decline of 11.7%, contrasting with a 0.8% decline in the industry and a 3.5% gain in the S&P 500 [2] - PacBio's current market capitalization stands at $575.1 million, with a Zacks Consensus Estimate for fiscal 2024 revenues at $155.7 million, reflecting a 22.4% decline from fiscal 2023 [4] - The study conducted by Radboudumc analyzed 100 patient samples, achieving a 93% identification rate of pathogenic variants using HiFi sequencing, which could enhance cost-effective diagnostics [5][9] - PacBio and Radboudumc are working to integrate HiFi sequencing into clinical practice, with plans to increase sample processing capacity and support diagnostics for all variant types by summer 2025 [8] Industry Summary - The global long-read sequencing market was valued at $455.1 million in 2022 and is projected to grow at a CAGR of 30.9% from 2023 to 2030, driven by the rising prevalence of genetic diseases and advancements in personalized medicine [10][11]

Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, recently shared its preliminary results for the fourth quarter and full year of 2024. Shares of PacBio closed 8% down on Jan. 14, as the top line missed market expectations.The company is scheduled to release fourth-quarter results on Feb. 15, 2025.Q4 Preliminary ResultsPacBio reported preliminary revenues of $39.2 million, down 33% year over year. The Zacks Consensus Estimate is pinned at $40.9 million.Consumable revenues are antic ...

MENLO PARK, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading provider of highly accurate long-read sequencing solutions, announced a significant publication from Radboud University Medical Center (Radboudumc) and its research partners in the American Journal of Human Genetics. The study demonstrates the impact of PacBio’s HiFi long-read sequencing technology in identifying genetic causes of rare diseases, illustrating the feasibility of potentially replacing multiple diagnostic tes ...

Core Insights - PacBio reported preliminary unaudited revenue for Q4 2024 of $39.2 million, a decline of 33% year-over-year, and full-year revenue of $154.0 million, down 23% from the previous year [1][6] - The company launched the Vega benchtop system and SPRQ chemistry, aimed at making HiFi sequencing more accessible and affordable [1][7] - CEO Christian Henry expressed optimism about market share growth in 2025 and noted positive early feedback on new products [2] Business Updates - The Vega system is designed to broaden access to HiFi long-read sequencing [7] - SPRQ chemistry enables sequencing of the human genome for under $500, significantly reducing DNA input requirements [7] - PacBio has begun delivering Vega systems to Berry Genomics for prenatal health and screening programs [7] Financial Position - The company strengthened its balance sheet by exchanging $459 million in convertible senior notes for $200 million in new notes due in August 2029, along with 20.5 million shares and $50 million in cash [7] - Preliminary instrument revenue for Q4 2024 is expected to be approximately $15.3 million, down from $35.1 million in Q4 2023, with 23 Revio and 7 Vega systems sold [7] - Preliminary consumables revenue for Q4 2024 is expected to be around $18.8 million, slightly down from $18.9 million in the same period last year [7] - Total preliminary unrestricted cash and investments as of December 31, 2024, is expected to be approximately $390 million [7]

Pacific Biosciences of California, Inc. (PACB) recently delivered its first Vega systems to Berry Genomics as part of an early access agreement announced in 2022. Under the terms of the original agreement, Berry Genomics is likely to develop and optimize its targeted assays to support carrier, prenatal and newborn screening programs in China and other markets.Vega systems are advanced sequencing platforms, designed for high-throughput, precise genomic analysis. These systems utilize PacBio's HiFi sequencing ...