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PacBio Announces Record Preliminary Fourth Quarter and Full Year Revenue Growing 113% and 56%, respectively

Retrieved on: 
Monday, January 8, 2024

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.

Key Points: 
  • PacBio reported preliminary, unaudited revenue of approximately $58.4 million for its fourth quarter ended December 31, 2023.
  • Preliminary instrument revenue for the fourth quarter of 2023 is expected to be approximately $35.1 million, compared with $6.1 million for the fourth quarter of 2022.
  • Preliminary consumables revenue for the fourth quarter of 2023 is expected to be approximately $18.9 million, compared with $16.7 million for the fourth quarter of 2022.
  • Preliminary service and other revenue for the fourth quarter of 2023 is expected to be approximately $4.4 million, compared with $4.6 million for the fourth quarter of 2022.

PacBio Enables Rare and Inherited Disease Research by Adding Tertiary Analysis Partners to PacBio Compatible

Retrieved on: 
Wednesday, November 1, 2023

MENLO PARK, Calif., Nov. 1, 2023 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the addition of two tertiary analysis partners to PacBio Compatible. Geneyx and Golden Helix will enable PacBio customers to leverage PacBio HiFi data for disease research with the Revio, Sequel II and IIe sequencing systems.

Key Points: 
  • MENLO PARK, Calif., Nov. 1, 2023 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the addition of two tertiary analysis partners to PacBio Compatible.
  • Geneyx and Golden Helix will enable PacBio customers to leverage PacBio HiFi data for disease research with the Revio, Sequel II and IIe sequencing systems.
  • This collaboration leverages our HiFi sequencing data analysis expertise, enabling us to provide a comprehensive solution for long-read whole genome sequencing analysis.
  • Partners collaborate closely with PacBio scientists to provide seamless integration and support for customers who are just starting out with PacBio or expanding their current capabilities.

PacBio Announces Kinnex RNA Kits, Further Scaling HiFi Sequencing in Full-Length RNA, Single-Cell RNA and 16S rRNA Applications

Retrieved on: 
Tuesday, October 31, 2023

MENLO PARK, Calif., Oct. 31, 2023 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced it has begun taking orders for its groundbreaking Kinnex RNA kits, which increase throughput for full-length RNA, single-cell RNA, and 16S rRNA sequencing on PacBio's long-read sequencing systems to enable large-scale studies at a resolution difficult to attain with short-read RNA sequencing.

Key Points: 
  • Our customers have asked for the same for RNA sequencing, and these Kinnex kits deliver just that with tens of millions of full-length reads per run.
  • Short-read sequencing has difficulty covering entire transcripts, while long-read sequencing of one transcript would traditionally result in unused sequencing capacity.
  • With Kinnex, customers can concatenate transcripts into long libraries for HiFi sequencing, increasing throughput and making long-read RNA sequencing more cost effective.
  • The Kinnex full-length RNA kit offers full-length RNA sequencing with abundant information and flexible sample multiplexing.

PacBio Announces Collaboration with Leading Library Preparation Automation Partners

Retrieved on: 
Thursday, September 7, 2023

MENLO PARK, Calif., Sept. 7, 2023 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced that automation providers Hamilton, Integra, Revvity and Tecan have created fully automated protocols to prepare samples for sequencing on Revio and Sequel II and IIe systems.

Key Points: 
  • "Our goal is to make sample and library preparation easier for our customers," said Jeff Eidel, Chief Commercial Officer at PacBio.
  • "These automated library preparation solutions are designed to help our customers reduce costs, achieve consistent results, and increase sequencing throughput.
  • "We're excited about the partnership between Tecan and PacBio," said Luca Valeggia, Senior Vice President of Lab Automation at Tecan.
  • Partners collaborate closely with PacBio scientists to provide seamless integration and support for customers who are just starting out with PacBio or expanding their current capabilities.

PacBio To Begin Commercial Shipment of Revio Systems

Retrieved on: 
Tuesday, March 7, 2023

MENLO PARK, Calif., March 7, 2023 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the first customer shipments of Revio long-read sequencing systems will commence on March 8, 2023. As previously announced, the Revio system features significant advances in SMRT Cell design, compute, and system architecture. Together, this enables a dramatic increase in throughput and lower sequencing costs with the trusted power of HiFi chemistry, which offers exceptional accuracy and direct methylation detection.

Key Points: 
  • Broad is one of many customers to purchase multiple systems, ordering ten Revio systems to scale long-read sequencing for population sequencing initiatives.
  • The ten Revio systems at Broad will have the same sequencing capacity as 150 Sequel IIe systems.
  • PacBio announced orders of 76 Revio systems in the quarter ended December 31, 2022, making it the most successful product announcement in PacBio's history.
  • PacBio expects to ship at least 25 Revio systems during the first quarter of 2023 and will continue to scale throughout the year.

PacBio Announces Record Orders, Including Orders for 76 Revio Systems Received in the Fourth Quarter of 2022

Retrieved on: 
Monday, January 9, 2023

MENLO PARK, Calif., Jan. 9, 2023 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, announced today it received orders for 76 Revio systems in its fourth quarter ended December 31, 2022, making it the most successful product announcement in PacBio's history.

Key Points: 
  • PacBio commenced its beta program for Onso in the fourth quarter of 2022.
  • PacBio expects to begin taking orders this quarter and start shipping by the end of the second quarter of 2023.
  • Received orders for 96 instruments in the fourth quarter, which included orders for 76 Revio systems for delivery in 2023.
  • Placed 18 Sequel II/IIe systems during the fourth quarter compared to 48 Sequel II/IIe systems placed in the prior year quarter.

PacBio Announces Revio, a Revolutionary New Long Read Sequencing System Designed to Provide 15 Times More HiFi Data and Human Genomes at Scale for Under $1,000

Retrieved on: 
Wednesday, October 26, 2022

MENLO PARK, Calif., Oct. 25, 2022 /PRNewswire/ -- PacBio (NASDAQ: PACB), a leading developer of high-quality, highly accurate sequencing solutions, today announced the Revio™ long-read sequencing system, which will enable customers to dramatically scale their use of PacBio's celebrated HiFi sequencing technology. Revio is designed to provide customers with the ability to sequence up to 1,300 human whole genomes per year at 30-fold coverage for less than $1,000 per genome. With this scale and pricing, PacBio believes Revio will enable the use of HiFi sequencing for large studies in human genetics, cancer research, agricultural genomics, and more.

Key Points: 
  • With this scale and pricing, PacBio believes Revio will enable the use of HiFi sequencing for large studies in human genetics, cancer research, agricultural genomics, and more.
  • Revio will further unleash that power by adding high throughput and affordability," said Christian Henry, President and Chief Executive Officer of PacBio.
  • Revio will run up to four SMRT Cells in parallel, which provides up to 100 million ZMWs for sequencing single molecules simultaneously.
  • Combined with significant advances in our compute, Revio will deliver shorter run times and a 15-fold increase in HiFi data.

PacBio Announces Second Quarter 2022 Financial Results

Retrieved on: 
Wednesday, August 3, 2022

MENLO PARK, Calif., Aug. 3, 2022 /PRNewswire/ -- PacBio (NASDAQ: PACB) today announced financial results for the quarter ended June 30, 2022.

Key Points: 
  • MENLO PARK, Calif., Aug. 3, 2022 /PRNewswire/ -- PacBio (NASDAQ: PACB) today announced financial results for the quarter ended June 30, 2022.
  • Gross profit for the second quarter of 2022 was $16.2 million, representing an 18% increase compared with $13.8 million for the second quarter of 2021, and gross margin was 46% in the second quarter of 2022 compared to 45% for the second quarter of 2021.
  • Excluding amortization of intangible assets, non-GAAP gross profit for the second quarter of 2022 was $16.4 million and represented a non-GAAP gross margin of 46% in the second quarter of 2022, compared to 45% for the second quarter of 2021 (see accompanying tables for reconciliations of GAAP and non-GAAP measures).
  • Operating expenses totaled $84.2 million for the second quarter of 2022, compared to $51.3 million for the second quarter of 2021.

Dante Genomics partners with Emirates Post to deliver advanced genomic services in UAE

Retrieved on: 
Wednesday, June 22, 2022

The partnership follows the recent launch of Dante Genomics office and operations in the UAE.

Key Points: 
  • The partnership follows the recent launch of Dante Genomics office and operations in the UAE.
  • Peter Somers, CEO of Emirates Post, said: We are delighted that Dante Genomics entrusted us to support the expansion of their advanced genomic services across the UAE.
  • We are honored to partner with Emirates Post on logistics and distribution of advanced genomic services in the UAE.
  • Emirates Post Group Company is a Public Joint Stock Company under Emirates Investment Authority (EIA) operating as a commercial entity across the emirates.

Volta Labs to Unveil Digital Fluidics at AGBT

Retrieved on: 
Thursday, June 2, 2022

Volta Labs , a bioautomation company developing solutions to streamline the upstream workflows in genomic sequencing, today announced numerous advances in digital fluidics that will be presented at AGBT General Meeting.

Key Points: 
  • Volta Labs , a bioautomation company developing solutions to streamline the upstream workflows in genomic sequencing, today announced numerous advances in digital fluidics that will be presented at AGBT General Meeting.
  • We have been hard at work to develop bioautomation technology and we are excited to unveil the company and the technology at AGBT, said Udayan Umapathi, CEO at Volta Labs.
  • Volta Labs is building a sequencing technology agnostic platform that spans from the raw biological sample to sequenceable molecules.
  • Volta Labs approaches this challenge with a multidisciplinary solution that re-imagines fluidics and automation from the ground up.