Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases. It also offers binding kits, such as modified DNA polymerase used to bind SMRTbell libraries to the polymerase in preparation for sequencing; and sequencing kits comprise reagents required for on-instrument, real-time sequencing, including the phospholinked nucleotides. The company serves research institutions; commercial laboratories; genome centers; clinical, government, and academic institutions; genomics service providers; pharmaceutical companies; and agricultural companies. It markets its products through a direct sales force in North America and Europe, as well as through distribution partners in Asia, Europe, the Middle East, Africa, and Latin America. Pacific Biosciences of California, Inc. has a collaboration with Invitae Corporation to develop ultra-high-throughput clinical whole genome sequencing platform; and a research collaboration with Rady Children's Institute for Genomic Medicine for whole genome sequencing platform. The company was formerly known as Nanofluidics, Inc. and changed its name to Pacific Biosciences of California, Inc. in 2005. Pacific Biosciences of California, Inc. was incorporated in 2000 and is headquartered in Menlo Park, California.
IPO Year: 2010
Exchange: NASDAQ
Website: pacb.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/11/2024 | Buy → Neutral | UBS | |
| 6/3/2024 | $4.00 | Buy | Jefferies |
| 4/22/2024 | Overweight → Neutral | JP Morgan | |
| 4/18/2024 | $7.00 → $2.50 | Buy → Neutral | Goldman |
| 12/14/2023 | $11.00 | Overweight | Stephens |
| 12/14/2023 | Neutral | Guggenheim | |
| 12/13/2023 | Peer Perform | Wolfe Research | |
| 11/17/2023 | $13.00 → $10.00 | Neutral → Buy | UBS |
| 10/31/2023 | $11.00 | Neutral → Overweight | Cantor Fitzgerald |
| 9/28/2023 | $11.00 | Outperform | Bernstein |
UBS downgraded Pacific Biosciences from Buy to Neutral
Jefferies resumed coverage of Pacific Biosciences with a rating of Buy and set a new price target of $4.00
JP Morgan downgraded Pacific Biosciences from Overweight to Neutral
Goldman downgraded Pacific Biosciences from Buy to Neutral and set a new price target of $2.50 from $7.00 previously
Stephens initiated coverage of Pacific Biosciences with a rating of Overweight and set a new price target of $11.00
Guggenheim initiated coverage of Pacific Biosciences with a rating of Neutral
Wolfe Research initiated coverage of Pacific Biosciences with a rating of Peer Perform
UBS upgraded Pacific Biosciences from Neutral to Buy and set a new price target of $10.00 from $13.00 previously
Cantor Fitzgerald upgraded Pacific Biosciences from Neutral to Overweight and set a new price target of $11.00
Bernstein initiated coverage of Pacific Biosciences with a rating of Outperform and set a new price target of $11.00
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Organization's 6,000-genome effort will power global ALS research through detailed long-read sequencing data made freely available to scientists worldwide NEW YORK and MENLO PARK, Calif., June 2, 2025 /PRNewswire/ -- Target ALS, a nonprofit breaking down barriers to amyotrophic lateral sclerosis (ALS) research, has partnered with PacBio (NASDAQ:PACB), a leading provider of high-quality, highly accurate long read sequencing platforms, to launch the largest global whole genome sequencing initiative for ALS to date. By applying PacBio's HiFi sequencing to more than 6,000 genomes from people with ALS and healthy controls, the project aims to detect structural variants, repeat expansions, and ot
MENLO PARK, Calif., May 28, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will be participating in the following upcoming investor conferences: Jefferies Global Healthcare Conference on Thursday, June 5, 2025, at 8:45 AM ET in New York, NY46th Annual Goldman Sachs Global Healthcare Conference on Wednesday, June 11, 2025, at 10:40 AM ET in Miami Beach, FL Live webcasts of the events can be accessed at the company's investors page at investor.pacificbiosciences.com. A replay of the webcasts will be available for at least 30 days following the event. About PacBio PacBio (NASDAQ:PACB
MENLO PARK, Calif., May 22, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading provider of high-quality, highly accurate sequencing solutions, today announced the appointment of Haorui Gene, a globally recognized leader in blood typing genomics, as an official distributor in China. The distribution arrangement is designed to expand access to PacBio's HiFi long-read sequencing technology in clinical and research settings, with a focus on transfusion medicine and hematology, areas where precision and completeness of genomic data are critical to patient outcomes. Founded in 2020, Haorui Gene has quickly become a key player in blood typing genomics, deploying seven Sequel II and three R
MENLO PARK, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced that the Special Committee of its Board of Directors (the "Special Committee") has concluded its independent investigation into previously disclosed allegations from an attorney representing an employee impacted by our recent reduction in force regarding certain employment practices and cybersecurity matters of the Company. The allegations did not involve the current, or any previously reported, financial results, and the investigation found no improper employment practices and no material inaccuracies or omissions with respect to the cybersecurity disclosures in the Company's 2024 Form 10-K. Chairma
MENLO PARK, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended March 31, 2025. First quarter results: Q1 2025Q1 2024Revenue$37.2 million$38.8 millionInstrument revenue$11.0 million$19.0 millionConsumable revenue$20.1 million$16.0 millionService and other revenue$6.0 million$3.8 millionRevio™ systems1228Vega™ systems28—Annualized Revio pull-through per system~$236,000~$254,000Cash, cash equivalents, and investments$343.1 million$561.9 million Gross margin, operating expenses, net loss, and net loss per share are reported on a GAAP and non-GAAP basis. The non-GAAP measures are described below and reconciled to the correspon
MENLO PARK, Calif. and BANGKOK, May 05, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) a leading provider of high-quality, highly accurate sequencing platforms, and Chulalongkorn University, a national leader in genomic and translational research, today announced a strategic collaboration to implement PacBio HiFi whole genome sequencing (WGS) as part of a newborn screening research program. This marks the first initiative in Asia Pacific to explore the use of PacBio's HiFi sequencing technology at population scale - an effort designed to evaluate how comprehensive genomic data can support earlier, more accurate identification of rare and treatable conditions in newborns. The collaboration h
MENLO PARK, Calif., April 28, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading provider of high-quality, highly accurate sequencing platforms, today announced it plans to improve on its already highly accurate methylation detection capabilities in HiFi chemistry through licensing advanced DNA methylation detection methods developed by Professor Dennis Lo and colleagues at the The Chinese University of Hong Kong (CUHK) and Centre for Novostics. The licensed technology is designed to enhance PacBio HiFi sequencing with improved detection of DNA base modifications—including 5-hydroxymethylcytosine (5hmC) and hemimethylated 5-methylcytosine (5mC)—in native DNA. PacBio plans to bring th
MENLO PARK, Calif. and GENEVA, Switzerland , April 22, 2025 (GLOBE NEWSWIRE) -- The Davos Alzheimer's Collaborative (DAC), a global initiative to prevent Alzheimer's disease and improve brain health, today announced that PacBio (NASDAQ:PACB), a leader in high-quality, highly-accurate long-read sequencing platforms, will be a technology partner to its North African Dementia Registry (NADR) project. Spearheaded by DAC, this effort brings together The Institute of Global Health and Human Ecology (I-GHHE) at The American University in Cairo (AUC) and UCL Queen Square Institute of Neurology, University College London (UCL), and aims to develop a high-quality, comprehensive multi-omics dataset t
Implements Plan to Reduce Annualized Operating Expense Run Rate by $45 Million to $50 Million Q1 2025 Earnings Conference Call Scheduled for May 8, 2025 MENLO PARK, Calif., April 09, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced preliminary, unaudited revenue for the quarter ended March 31, 2025. Preliminary First Quarter Results Preliminary Q1 2025Q1 2024Revenue$36.9 million$38.8 millionInstrument revenue$10.8 million$19.0 millionConsumable revenue$20.1 million$16.0 millionService and other revenue$6.0 million$3.8 millionRevio systems1228Vega systems28-Annualized Revio pull-through per system~$236,000~$254,000Cash, cash equivalents, and investments$343.1 million$561.9
MENLO PARK, Calif., April 04, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading provider of high-quality, highly accurate sequencing platforms, today announced that the Compensation Committee of the Company's Board of Directors granted a non-qualified stock option (the "Option") covering 342,432 shares of PacBio common stock to the Company's recently hired Chief Financial Officer, Jim Gibson, under the Pacific Biosciences 2020 Inducement Equity Incentive Plan (the "2020 Inducement Plan"), effective on March 31, 2025. The award was granted as an inducement material to such individual's entering into employment with PacBio in accordance with Nasdaq Marketplace Rule 5635(c)(4). The Op
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MENLO PARK, Calif., May 22, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading provider of high-quality, highly accurate sequencing solutions, today announced the appointment of Haorui Gene, a globally recognized leader in blood typing genomics, as an official distributor in China. The distribution arrangement is designed to expand access to PacBio's HiFi long-read sequencing technology in clinical and research settings, with a focus on transfusion medicine and hematology, areas where precision and completeness of genomic data are critical to patient outcomes. Founded in 2020, Haorui Gene has quickly become a key player in blood typing genomics, deploying seven Sequel II and three R
MENLO PARK, Calif., March 27, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced Jim Gibson will join and be appointed as the company's new Chief Financial Officer, effective as of his start date, which is expected to be March 31, 2025. With over three decades of financial leadership experience at some of Silicon Valley's most iconic and innovative companies, Mr. Gibson brings a deep track record of operational excellence, strategic financing, and scaling global organizations. Mr. Gibson joins PacBio from Sequoia, a strategic compensation and benefits solutions provider, where he served as CFO across
MENLO PARK, Calif., Feb. 03, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the appointment of David Ruggiero as the company's new Global Head of Sales & Service. Mr. Ruggiero brings over two decades of experience in sales leadership within the technology and life sciences sectors. Prior to joining PacBio, he served as Senior Vice President, North America for Sinch AB, a leading global provider of cloud-based communication solutions for business and mobile operators. In his role he led North American sales for the enterprise, mid-market segments. Before that, he held senior sales positions at Zoom V
MENLO PARK, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the appointment of Chris Smith to its Board of Directors, effective today. Mr. Smith is currently the Chief Executive Officer of NeoGenomics, Inc. (NASDAQ:NEO), a leading oncology testing services company. Mr. Smith, a seasoned executive with extensive experience in the life sciences and healthcare industries, brings a strong track record of leadership in genomics, diagnostics, and corporate strategy. As CEO of NeoGenomics, a leading provider of oncology testing services, he has overseen the company's continued growth and in
MENLO PARK, Calif., Dec. 11, 2023 /PRNewswire/ -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that David Botstein, Ph.D., a member of PacBio's Board of Directors, has retired from his position effective December 7, 2023. "I would like to thank David for his dedication to PacBio since he joined the Board in 2012," said Christian Henry, President and Chief Executive Officer. "His deep understanding of genomics and broad experience in technological innovation in the field has made him a valuable leader as PacB
Current Member, Jay Shendure, is Appointed Chair MENLO PARK, Calif., May 30, 2023 /PRNewswire/ -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the appointment of Olga Troyanskaya, Ph.D., Professor of Computer Science and the Lewis Sigler Institute for Integrative Genomics at Princeton University to PacBio's Scientific Advisory Board (SAB) and Jay Shendure, Ph.D. as Chair. Dr. Shendure is a Professor of Genome Sciences at the University of Washington. "I am so honored to have Dr. Troyanskaya join PacBio's Sci
Life sciences tools veteran brings decades of experience leading successful teams, commercializing industry-defining technology platforms, and scaling global organizations Resolve Biosciences, a company pioneering Molecular Cartography™ technology, announced today that it has appointed John Stark as Chief Executive Officer. As part of this transition, Resolve Biosciences' previous CEO, Jason Gammack, will be leaving the company. Mr. Stark brings more than 20 years of experience commercializing early-stage technologies, scaling organizations, and navigating capital markets for some of the most innovative life sciences companies. Most recently, Mr. Stark was Chief Executive Officer of Quant
MENLO PARK, Calif., July 21, 2022 /PRNewswire/ -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the appointment of Jeff Eidel as Chief Commercial Officer, effective August 16, 2022. In this role, Mr. Eidel will have global responsibility for all commercial activity including sales, marketing, and customer support. "Jeff is a strong leader and an incredible executive, and I expect him to have a significant impact on the entire organization," said Christian Henry, President and Chief Executive Officer of PacBio.
CAMBRIDGE, United Kingdom, June 14, 2022 (GLOBE NEWSWIRE) -- Cambridge Epigenetix (CEGX), a life sciences tools and technology company which is revolutionizing genome sequencing, today announced the appointment of Peter J. Fromen as Chief Executive Officer effective July 18, 2022. Gail Marcus who has been acting Chief Executive Officer since 2020 will continue as Chair of the Board. Professor Sir Shankar Balasubramanian FRS, co-founder of Cambridge Epigenetix, said, "We welcome Peter and his vast industry experience and valuable relationships to lead Cambridge Epigenetix at this critical juncture. The founders, Gail and the entire Board are delighted to have Peter's leadership as we see
CANTON, Mass., Nov. 22, 2021 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (NASDAQ:ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today announced the appointment of Prathyusha Duraibabu to the Company's Board of Directors, effective November 19, 2021. Ms. Duraibabu will serve as an independent director of the Company and member of the Audit Committee of the Board. "Prathyusha is a proven leader who brings significant expertise from a more than 24-year career in the technology and healthcare sectors, and has held senior leadership positio
MENLO PARK, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended March 31, 2025. First quarter results: Q1 2025Q1 2024Revenue$37.2 million$38.8 millionInstrument revenue$11.0 million$19.0 millionConsumable revenue$20.1 million$16.0 millionService and other revenue$6.0 million$3.8 millionRevio™ systems1228Vega™ systems28—Annualized Revio pull-through per system~$236,000~$254,000Cash, cash equivalents, and investments$343.1 million$561.9 million Gross margin, operating expenses, net loss, and net loss per share are reported on a GAAP and non-GAAP basis. The non-GAAP measures are described below and reconciled to the correspon
Implements Plan to Reduce Annualized Operating Expense Run Rate by $45 Million to $50 Million Q1 2025 Earnings Conference Call Scheduled for May 8, 2025 MENLO PARK, Calif., April 09, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced preliminary, unaudited revenue for the quarter ended March 31, 2025. Preliminary First Quarter Results Preliminary Q1 2025Q1 2024Revenue$36.9 million$38.8 millionInstrument revenue$10.8 million$19.0 millionConsumable revenue$20.1 million$16.0 millionService and other revenue$6.0 million$3.8 millionRevio systems1228Vega systems28-Annualized Revio pull-through per system~$236,000~$254,000Cash, cash equivalents, and investments$343.1 million$561.9
MENLO PARK, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced financial results for the quarter and fiscal year ended December 31, 2024. Fourth quarter results Revenue of $39.2 million, a 33% decrease compared with $58.4 million in the prior-year period.Instrument revenue of $15.3 million compared with $35.1 million in the prior-year period. Instrument revenue in the fourth quarter of 2024 included 23 Revio® sequencing systems and 7 Vega™ sequencing systems.Consumables revenue of $18.8 million compared with $18.9 million in the prior-year period.Service and other revenue of $5.1 million compared with $4.4 million in the prior-year period. Gross margin, opera
MENLO PARK, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its fourth quarter 2024 financial results on Thursday, February 13, 2025, at 4:30 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at https://investor.pacificbiosciences.com/. Date: Thursday, February 13, 2025, at 4:30 pm ET (1:30 pm PT)Listen live via internet or replay: https://investor.pacificbiosciences.com/Toll-free: 1-888-349-0136International: 1-412-317-0459 If using the dial-in option, please join the call ten minutes before the start time using the appropriate number above and ask to join the
Commenced shipment of the Vega™ benchtop system ahead of schedule, bringing HiFi sequencing to more customers Launched SPRQ chemistry, enabling the sub-$500 HiFi genome on the Revio® system MENLO PARK, Calif., Jan. 14, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced preliminary unaudited revenue for the fourth quarter of 2024 and full year 2024 of $39.2 million and $154.0 million representing a year-over-year decline of 33% and 23%, respectively. "Though challenging, 2024 was a productive year for PacBio as we launched groundbreaking products, strengthened our balance sheet, and made significant pr
MENLO PARK, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended September 30, 2024. Third quarter results: Revenue of $40.0 million compared with $55.7 million in the prior-year period.Instrument revenue of $16.8 million compared with $34.7 million in the prior-year period. Instrument revenue in the third quarter of 2024 included 22 Revio™ sequencing systems.Consumables revenue of $18.5 million compared with $16.9 million in the prior-year period.Service and other revenue of $4.7 million compared with $4.1 million in the prior-year period. Gross profit, operating expenses, net loss, and net loss per share are reported on
MENLO PARK, Calif., Oct. 10, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its third quarter 2024 financial results on Thursday, November 7, 2024, at 4:30 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at https://investor.pacificbiosciences.com/. Date: Thursday, November 7, 2024, at 4:30 pm ET (1:30 pm PT)Listen live via internet or replay: https://investor.pacificbiosciences.com/Toll-free: 1-888-349-0136International: 1-412-317-0459 If using the dial-in option, please join the call ten minutes before the start time using the appropriate number above and ask to join the "PacBio
MENLO PARK, Calif., Aug. 07, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended June 30, 2024. Second quarter results: Revenue of $36.0 million compared with $47.6 million in the prior-year period.Instrument revenue of $14.7 million compared with $29.9 million in the prior-year period. Instrument revenue in the second quarter of 2024 included 24 Revio™ sequencing systems.Consumables revenue of $17.0 million compared with $13.7 million in the prior-year period.Service and other revenue of $4.3 million compared with $3.9 million in the prior-year period. Gross profit for the second quarter of 2024 was $5.9 million, which included $4.6 mil
MENLO PARK, Calif., July 15, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its second quarter 2024 financial results on Wednesday, August 7, 2024, at 4:30 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at https://investor.pacificbiosciences.com/. Date: Wednesday, August 7, 2024, at 4:30 pm ET (1:30 pm PT)Listen live via internet or replay: https://investor.pacificbiosciences.com/Toll-free: 1-888-349-0136International: 1-412-317-0459 If using the dial-in option, please join the call ten minutes before the start time using the appropriate number above and ask to join the "PacBio Q
MENLO PARK, Calif., May 9, 2024 /PRNewswire/ -- PacBio (NASDAQ:PACB) today announced financial results for the quarter ended March 31, 2024. First quarter results: Revenue of $38.8 million compared with $38.9 million in the prior-year period.Instrument revenue of $19.0 million compared with $20.7 million in the prior-year period. Instrument revenue in the first quarter of 2024 included 28 RevioTM sequencing systems.Consumables revenue of $16.0 million compared with $14.0 million in the prior-year period.Service and other revenue of $3.8 million compared with $4.2 million in th