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 |
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 tests with a single, more comprehensive approach. The study, led by Christian Gilissen and Lisenka Vissers of Radboudumc, used PacBio's Revio platform and HiFi long reads to analyze 100 c
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., 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 benchmark in gut microbiome testing, and is the only comprehensive and accurate gut microbiome test available today. Offering the highest resolution analysis possible, GutID is a major
MENLO PARK, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), developer of the world's most advanced sequencing technologies, has 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 will develop and optimize its targeted assays to support carrier, prenatal, and newborn screening programs in China and other markets. In the next phase of the relationship, Berry Genomics will build on the platform to deliver a solution designed for the characteristics of its clinical customers and the populations they serve. The company will take the resulting instrument through the
MENLO PARK, Calif., Jan. 02, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today that management will be presenting at the 43rd Annual J.P. Morgan Healthcare Conference on Tuesday, January 14, 2025, at 4:30 PM PT (7:30 PM ET) in San Francisco, California. A live webcast of the event can be accessed at the company's investors page at investor.pacificbiosciences.com. A replay of the webcast will be available for at least 30 days following the event. About PacBio PacBio (NASDAQ:PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help
MENLO PARK, Calif., Nov. 08, 2024 (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: UBS Global Healthcare Conference on Wednesday, November 13, 2024, at 5:00 PM ET in Rancho Palos Verdes, CAWolfe Research Healthcare Conference on Tuesday, November 19, 2024, at 3:30 PM ET in New York, NYStephens Annual Investment Conference on Wednesday, November 20, 2024, at 3:00 PM ET in Nashville, TNPiper Sandler 36th Annual Healthcare Conference on Tuesday, December 3, at 4:00 PM ET in New York, NY Live webcasts of the events can be ac
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., Nov. 07, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced that it has entered into a privately negotiated exchange agreement with a holder of PacBio's remaining outstanding 1.50% Convertible Senior Notes due 2028 (the "2028 Notes"), pursuant to which PacBio will (i) issue $200 million principal amount of its 1.50% Convertible Senior Notes due 2029 (the "New Notes"), (ii) issue 20,451,570 shares (the "Shares") of PacBio's common stock ("common stock"), and (iii) make a cash payment in the amount of $50 million (the "Cash Consideration") in exchange for $459 million principal amount
MENLO PARK, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- PacBio (NASDAQ:PACB), developer of the world's most advanced sequencing technologies, today announced the Vega™ system, the company's first benchtop long-read sequencing platform. Vega delivers all the functionality of the Revio system, PacBio's high-throughput long-read sequencer, into a compact, lower-throughput benchtop platform. Offering exceptional data accuracy with HiFi technology, fast turnaround time, and a U.S. list price of $169,000, Vega is the perfect solution for researchers looking to adopt long-read sequencing across a variety of applications, including targeted sequencing, RNA sequencing, and small genome sequencing.
BOSTON, Oct. 30, 2024 /PRNewswire/ -- Volta Labs™, a genomics applications company, announced today that it has joined the PacBio Compatible program, further expanding the partnership between Volta Labs and PacBio. Volta Labs is partnering with PacBio to offer walk-away automation for PacBio library prep, enabling labs to scale sample prep for sequencing. Through preloaded apps on the Callisto™ Sample Prep System, a push-button sample prep solution for all NGS sequencing needs, PacBio customers can prepare high-quality PacBio HiFi libraries with less than 30 minutes of hands-o
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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
Announces Plan to Reduce Annualized Operating Expense Run Rate by $50 - $75 Million Q1 2024 Earnings Conference Call Scheduled for May 9, 2024 MENLO PARK, Calif., April 16, 2024 /PRNewswire/ – PacBio (NASDAQ:PACB) today announced preliminary, unaudited revenue for the quarter ended March 31, 2024. Preliminary First Quarter Results Preliminary revenue of $38.8 million, roughly flat 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.Consumables revenue of $16.0 million compared with $14.
MENLO PARK, Calif., Feb. 15, 2024 /PRNewswire/ -- PacBio (NASDAQ:PACB) today announced financial results for the quarter and fiscal year ended December 31, 2023. Fourth quarter results Revenue of $58.4 million, a 113% increase compared with $27.4 million in the prior-year period.Instrument revenue of $35.1 million compared with $6.1 million in the prior-year period.Consumables revenue of $18.9 million compared with $16.7 million in the prior-year period.Service and other revenue of $4.4 million compared with $4.6 million in the prior-year period.Shipped 44 RevioTM sequencing s
MENLO PARK, Calif., Jan. 25, 2024 /PRNewswire/ -- PacBio (NASDAQ:PACB) announced today that it will hold its quarterly conference call to discuss its fourth quarter 2023 financial results on Thursday, February 15, 2024, at 5:00 pm Eastern Time. The call will be webcast and may be accessed at PacBio's website at: https://investor.pacificbiosciences.com/. Date: Thursday, February 15, 2024, at 5:00 pm ET (2:00 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
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 of $58.4 million and $200.5 million representing year-over-year growth of 113% and 56%, respectively.
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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
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 17, 2021 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (NASDAQ:PACB), a leading provider of high-quality, long-read sequencing platforms, today announced the appointment of three new hires to its growing team. Dr. Catherine Ball joins the company as Senior Vice President of Research, Kathleen Lynch joins as Head of Global Government Affairs and Corporate Communications, and Michele Farmer joins as Chief Accounting Officer. Dr. Ball is a product of the California education system having completed her PhD in Molecular Biology at UCLA and her Postdoctoral research at Berkeley prior to 17 years at Stanford. Most recently, she was the Chief Scientific Offi
MENLO PARK, Calif., Jan. 12, 2021 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (NASDAQ: PACB) (“Pacific Biosciences” or the “Company”), a leading provider of high-quality, long read sequencing platforms, today announced that the Board of Directors granted non-qualified stock options covering an aggregate of 750,000 shares of Pacific Biosciences common stock and restricted stock units (“RSUs”) covering 335,000 shares of Pacific Biosciences common stock to the Company’s recently hired Chief Operating Officer, Mark Van Oene, under the Pacific Biosciences 2020 Inducement Equity Incentive Plan (the “Inducement Plan”) effective on January 8, 2021. The Board of Directors also gran
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