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 ...

MENLO PARK, Calif., Jan. 10, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), developer of the world’s most advanced sequencing technologies, and Intus Bio, a leader in microbiome research and discovery, today unveiled GutID, the first commercial human gut health test powered by Intus Bio’s groundbreaking Titan-1 platform and PacBio’s HiFi sequencing technology. By combining Intus Bio’s patented strain-level resolution assay and AI-powered analysis with PacBio’s renowned sequencing accuracy, GutID sets a new ...

Partnership and Collaboration - Berry Genomics will leverage PacBio's Vega system to develop long-read sequencing-based solutions for carrier, prenatal, and newborn screening programs in China and other markets [1] - Berry Genomics will build on the Vega platform to deliver solutions tailored to the characteristics of its clinical customers and the populations they serve [2] - Berry Genomics has committed to purchasing more than 50 Vega units as part of its agreement with PacBio [2] Technology and Product Development - The Vega system is PacBio's first benchtop long-read sequencing platform, offering exceptional data accuracy with HiFi technology and fast turnaround time [4] - Vega delivers the functionality of PacBio's high-throughput Revio system in a compact, lower-throughput benchtop platform, making it suitable for laboratories with limited space and sample volumes [4] - Berry Genomics will take the resulting instrument through the NMPA regulatory review process in China and support additional product registrations in other markets [2] Market and Application Focus - Next-generation sequencing technology has shown great potential in understanding genetic diseases and interpreting the human genome to benefit human health [3] - Small to medium-sized laboratories in China require genomics equipment that is compact, affordable, and capable of processing smaller sample volumes quickly [3] - Berry Genomics aims to provide best-in-class genomics services to clinical labs, unlocking new research opportunities and expanding the application of long-read sequencing technology [3][8] Company Background - PacBio is a premier life science technology company specializing in advanced sequencing solutions, including HiFi long-read sequencing and SBB short-read sequencing technologies [5] - Berry Genomics, established in 2010 and listed on the A-share main board in 2017, focuses on transforming genetic testing technology into clinical applications, particularly in reproductive health, genetic disease testing, and oncology [7][8]

Pacific Biosciences of California (PACB) closed at $2 in the latest trading session, marking a +0.5% move from the prior day. The stock's change was more than the S&P 500's daily loss of 1.11%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq decreased by 1.89%.Heading into today, shares of the maker of genetic analysis technology had lost 8.72% over the past month, lagging the Medical sector's loss of 6.22% and the S&P 500's loss of 1.7% in that time.The investment c ...

Core Insights - PacBio will present at the 43rd Annual J.P. Morgan Healthcare Conference on January 14, 2025, at 4:30 PM PT in San Francisco, California [1] - A live webcast of the presentation will be available on the company's investor page, with a replay accessible for at least 30 days post-event [2] Company Overview - PacBio is a leading life science technology company specializing in high-quality sequencing solutions aimed at resolving genetically complex problems [3] - The company utilizes two core technologies: HiFi long-read sequencing and SBB® short-read sequencing, focusing on accuracy, quality, and completeness [3] - PacBio's products cater to various research applications, including human germline sequencing, plant and animal sciences, infectious diseases, microbiology, and oncology [3]

I'm an investment analyst with clinical experience in healthcare and an MBA, expanding my focus from biotech to a range of sectors. I've had the privilege of sharing my insights on Seeking Alpha since 2017, emphasizing financial modeling techniques like DCF analysis to identify underlying assumptions in stock valuations. I provide scenario-based forecasts to help readers gauge reasonable outcomes. Influenced by works like Superforecasting and Antifragile, I advocate for disciplined risk management through a ...

Revenue Performance - Revenue decreased to $114.8 million for the nine months ended September 30, 2024, down from $142.2 million for the same period in 2023, primarily due to lower Revio unit sales[104] - Total revenue for the three months ended September 30, 2024, was $39.967 million, a decrease of 28% from $55.691 million for the same period in 2023[111] - Revenue decreased by $27.4 million, or 19%, to $114.8 million for the nine months ended September 30, 2024, compared to $142.2 million for the same period in 2023[126] Instrument Revenue - Instrument revenue for the nine months ended September 30, 2024, was $50.5 million, compared to $85.3 million for the same period in 2023, reflecting a significant decline[104] - Instrument revenue for the three months ended September 30, 2024, decreased by 52% to $16.8 million, down from $34.7 million for the same period in 2023, with only 22 Revio systems sold compared to 52 in the prior year[112] - Product revenue decreased by $34.8 million, or 41%, to $50.5 million for the nine months ended September 30, 2024, primarily due to the sale of 74 Revio systems compared to 129 systems in the prior year[126] Gross Profit and Expenses - Gross profit decreased for the nine months ended September 30, 2024, primarily due to a decrease in revenue and $4.4 million of restructuring charges[104] - Gross profit decreased by $16.0 million, or 37%, to $27.2 million for the nine months ended September 30, 2024, with a gross margin of 24% compared to 30% in the same period of 2023[128] - Total operating expense increased by $58.4 million, or 20%, to $348.5 million for the nine months ended September 30, 2024[130] Loss and Impairment - Loss from operations increased to $321.3 million for the nine months ended September 30, 2024, compared to $246.9 million for the same period in 2023, driven by a $93.2 million goodwill impairment charge[104] - Goodwill impairment charge of $93.2 million was recorded for the nine months ended September 30, 2024, due to a decline in stock price and changes in expected future cash flows[132] Cash and Investments - Cash, cash equivalents, and short-term investments were $471.1 million at September 30, 2024, representing a 25% decrease compared to the balance at December 31, 2023[104] - As of September 30, 2024, cash, cash equivalents, and investments totaled $471.1 million, down from $631.4 million as of December 31, 2023[141] - Cash used in operating activities for the nine months ended September 30, 2024, was $175.4 million, an improvement from $201.6 million in 2023[144] Research and Development - Research and development expense decreased by $35.2 million, or 25%, to $107.5 million for the nine months ended September 30, 2024, driven by restructuring activities[129] Other Income and Expenses - Other income, net decreased to $19.7 million for the nine months ended September 30, 2024, compared to $24.3 million in the same period of 2023[126] - Interest expense for the nine months ended September 30, 2024, was $10.7 million, slightly down from $10.8 million for the same period in 2023[137] - Interest expense for the three months ended September 30, 2024, was $3.5 million, compared to $3.6 million for the same period in 2023[121] Future Plans and Developments - The company plans to reduce annualized run-rate operating expenses by the end of 2024, with restructuring charges of approximately $24.7 million incurred for the nine months ended September 30, 2024[103] - The Vega system, a new benchtop long-read sequencing platform, was announced on November 6, 2024, with shipments expected to commence in the first quarter of 2025[108] Financing Activities - Cash provided by financing activities for the nine months ended September 30, 2024, was $7.2 million, a significant decrease from $190.5 million in 2023[144] - A deferred income tax benefit of $10.7 million for the nine months ended September 30, 2023, was related to the release of the valuation allowance for deferred tax assets due to the Apton acquisition[139] - The company has a contingent consideration obligation of $25.0 million related to the Apton acquisition, contingent upon achieving $50.0 million in revenue[142] Interest Rate Sensitivity - A hypothetical 100 basis-point change in interest rates would have affected the fair value of the investment portfolio by approximately $2.4 million as of September 30, 2024[157]