Monksdream
7 months ago
We create the world’s most advanced sequencing systems to provide you the most complete and accurate view of genomes, transcriptomes, and epigenomes. Our founders invented a new way to study the synthesis and regulation of DNA, RNA, and proteins. Driven by a desire to advance human health, we’re harnessing advances in biochemistry, optics, nanofabrication, and more.
We are passionate about developing products that empower scientists to explore the full spectrum of genetic variation in any organism — from unraveling the mystery of rare diseases to improving the world’s food supply. With world-class service and support, we keep your research progressing so you can focus on finding answers.
G3trich
4 years ago
https://finance.yahoo.com/news/pacific-biosciences-rady-children-institute-200500343.html
HiFi Sequencing will be used on a cohort of rare disease cases with the aim to identify numerous variants, both small and structural, that are not readily detectable by short-read sequencing
MENLO PARK, Calif., June 23, 2021 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (Nasdaq: PACB)(“Pacific Biosciences” or “PacBio”), a leading provider of high-quality, long-read sequencing platforms, and Rady Children’s Institute for Genomic Medicine (RCIGM), a mission-driven, non-profit seeking to save lives and improve outcomes for patients, clinicians and families, shared today that they are collaborating on a study which aims to identify potential disease-causing genetic variants and increase the solve rates of rare diseases.
The study is focused on long-read whole genome sequencing of rare disease cases for which previous short-read whole genome and exome sequencing yielded no answers. The study, which is currently underway, was able to detect variants that were not identified by short-read sequencing (SRS); of these, an average of 37 were missense mutations in known disease genes.
“PacBio HiFi sequencing can identify numerous variants, both small and structural that are not readily detectable by SRS,” said Matthew Bainbridge, Principal Investigator, and Associate Director of Clinical Genomics at RCIGM. “We sequenced this cohort of patients to 10-30X depth of coverage using Pacific Biosciences HiFi long-read technology to assess whether there was an increase in the identification of these variants. We are very pleased by the preliminary results delivered in this collaboration with the team at PacBio.”
It is estimated that as many as 25 million Americans — approximately 1 in 13 people — are affected by a rare, and often undiagnosed condition. In rare disease studies, conventional techniques for whole-genome and whole-exome analysis based on SRS typically led to identification of a causal variant in less than 50% of cases. Utilizing PacBio’s Single Molecule, Real-Time (SMRT®) Sequencing technology to generate highly accurate long-reads, known as HiFi reads, clinical researchers have demonstrated that they can detect disease-causing structural and small variants missed by short-read sequencing platforms. This study is designed to evaluate the rate at which HiFi sequencing identifies overlooked causal variation.
“It is an honor to collaborate with the innovative pediatric translational researchers at RCIGM to bring HiFi Sequencing data to bear on some of their most difficult cases of rare pediatric disease, and hopefully give individuals and families answers regarding potential underlying genetic variants, which may ultimately provide healthcare providers with insights to end their diagnostic odysseys,” said Christian Henry, CEO and President at PacBio.
“We’ve been aware that there’s a subset of seriously ill babies and children who don’t receive a diagnosis with current sequencing methods, but based on their symptoms, we’re fairly certain that they have an underpinning genetic disease,” said Stephen Kingsmore, MD, DSc, President and CEO of Rady’s Children’s Institute for Genomic Medicine. “With this new technology, we are excited to see how many more of these children and families will receive additional insight regarding the identification of potential disease-causing genetic variants.”
About Pacific Biosciences
Pacific Biosciences of California, Inc. (NASDAQ: PACB) is empowering life scientists with highly accurate long-read sequencing. The company’s innovative instruments are based on Single Molecule, Real-Time (SMRT®) Sequencing technology, which delivers a comprehensive view of genomes, transcriptomes, and epigenomes, enabling access to the full spectrum of genetic variation in any organism. Cited in thousands of peer-reviewed publications, PacBio® sequencing systems are in use by scientists around the world to drive discovery in human biomedical research, plant and animal sciences, and microbiology. For more information, please visit www.pacb.com and follow @PacBio.
About Rady Children’s Institute for Genomic Medicine
We are transforming pediatric critical care by advancing disease-specific healthcare for infants and children with rare disease. Discoveries at the Institute are enabling rapid diagnosis and targeted treatment of critically ill newborns and pediatric patients at Rady Children’s Hospital-San Diego and a growing network of more than 60 children’s hospitals nationwide. The vision is to expand delivery of this life-changing technology to enable the practice of Rapid Precision Medicine™ at children’s hospitals across the nation and the world. RCIGM is a non-profit, research institute of Rady Children’s Hospital and Health Center. Learn more at www.RadyGenomics.org. Follow us on Twitter and LinkedIn.
PacBio products are provided for Research Use Only. Not for use in diagnostic procedures.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995, including statements relating to the collaboration between PacBio and RCIGM, potential use of SMRT sequencing technology to identify, and increase the rate of identification of, potential disease-causing genetic variants in rare disease, the potential of HiFi data, the applications, insights, and attributes of SMRT sequencing technology, and the benefits of PacBio sequencing. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this press release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements contained in the Company’s filings with the Securities and Exchange Commission, including the risks set forth in the company’s Forms 8-K, 10-K, and 10-Q. The Company disclaims any obligation to update or revise any forward-looking statements.
Contacts
Investors:
Todd Friedman
+1 (650) 521-8450
ir@pacificbiosciences.com
Media:
Jen Carroll
+1 (858) 449-8082
pr@pacificbiosciences.com
Timetravelerdos
4 years ago
Outstanding earnings report !! Pacific Biosciences of California, Inc. Announces First Quarter 2021 Financial Results
9:47 am ET April 30, 2021 (Globe Newswire) Print
Pacific Biosciences of California, Inc. (NASDAQ: PACB) today announced financial results for the quarter ended March 31, 2021.
Record first quarter revenue reflects a strong start to 2021
Revenue for the first quarter of 2021 was $29.0 million, representing an 86% increase compared with $15.6 million for the first quarter of 2020. The Company placed 41 Sequel II/IIe systems during the first quarter of 2021 compared to 11 Sequel II systems placed in the first quarter of 2020 and 35 Sequel II/IIe systems placed during the fourth quarter of 2020, bringing the total installed base of Sequel II/IIe systems to 244 as of March 31, 2021, compared with 125 as of March 31, 2020 and 203 as of December 31, 2020. Instrument revenue for the first quarter of 2021 was $14.9 million, compared with $4.0 million for the first quarter of 2020. Consumables revenue for the first quarter of 2021 was $10.4 million compared with $8.3 million for the first quarter of 2020. Service and other revenue for the first quarter of 2021 was $3.7 million compared with $3.3 million for the first quarter of 2020.
Gross profit for the first quarter of 2021 was $13.0 million, representing a 73% increase compared with $7.5 million for the first quarter of 2020. Gross margin for the first quarter of 2021 was 45%, compared to 48% for the first quarter of 2020.
Operating expenses totaled $46.7 million for the first quarter of 2021, compared to $40.2 million for the first quarter of 2020. Operating expenses for the first quarter of 2021 and first quarter of 2020 included non-cash stock-based compensation of $9.2 million and $3.5 million, respectively.
Net loss for the first quarter of 2021 was $87.4 million, compared to a net income of $1.3 million for the first quarter of 2020. The net loss for the first quarter of 2021 was largely driven by the repayment of $52 million of Continuation Advances to Illumina in the first quarter of 2021 as a result of the investment from SoftBank. First quarter 2020 included $34 million in other income from Continuation Advances from Illumina.
Basic and diluted net loss per share for the first quarter of 2021 was $0.45 per share compared to basic and diluted net income of $0.01 per share for the first quarter of 2020.
In February 2021, SB Northstar LP, a subsidiary of SoftBank Group Corp., made an investment of $900 million in convertible senior notes to support the Company's future growth initiatives. Cash, cash equivalents and investments, excluding short and long-term restricted cash, at March 31, 2021 totaled $1,160.3 million, compared to $318.8 million at December 31, 2020.
Timetravelerdos
4 years ago
10 Best Pharma Stocks to Buy Now Pacific Biosciences ranks 8th on the list of 10 best pharma stocks to buy now. The company makes systems and technologies for gene sequencing. The company offers a single-molecule real-time sequencing (SMRT) platform based on properties of zero-mode waveguides. In February, the stock was upgraded by Piper Sandler to overweight from neutral with a price target of $52, up from $20. The firm cited Softbank’s $900 million investment in the company for the upgrade.
As of the end of the fourth quarter, 23 hedge funds in Insider Monkey’s database of 887 funds held stakes in PACB, compared to 25 funds in the third quarter. Cathie Wood's ARK Investment Management is the biggest stakeholder in the company, with 28.5 million shares, worth $739.4 million.
In the Q4 2020 Investor Letter, Baron Discovery Fund highlighted a few stocks and Pacific Biosciences Of California Inc. (NASDAQ:PACB) is one of them. Here is what Baron Discovery Fund said:
"Pacific Biosciences of California, Inc. offers a differentiated long-read DNA sequencing platform for genetic analysis. Shares performed exceedingly well in the quarter, up about 162%. We believe there is increasing excitement about the potential for its platform as it lowers sequencing costs and has the potential to move beyond its current commercial niche. The recently appointed CEO, Christian Henry, had previously served as CFO and Chief Commercial Officer at Illumina, and we think he is well qualified to commercially execute on Pacific Biosciences’ differentiated long-read platform.”
https://finance.yahoo.com/news/10-best-pharma-stocks-buy-144603194.html
G3trich
4 years ago
Simon-Barnett By Simon Barnett | @sbarnettARK
Analyst
During the J.P. Morgan Healthcare Conference last week, Invitae (NVTA), a leading medical genetics company, and Pacific Biosciences “PacBio” (PACB), a provider of long-read sequencing instruments, announced a collaboration to develop an ultra-high-throughput sequencing platform based on PacBio’s HiFi sequencing chemistry. This collaboration could increase the number of threats to companies focused on short-read sequencing.
Bolstered not only by results from this year’s PrecisionFDA Truth Challenge but also by improvements in HiFi accuracy via Google’s (GOOGL) DeepVariant as well as research community feedback, we think PacBio’s HiFi sequencing method provides the most complete and accurate view of the human genome.
To drive widespread adoption, PacBio likely needs to improve instrument throughput and variable cost. Collaborating with Invitae, we imagine PacBio can gain critical insights into its customers’ challenges, from automated sample prep to large-scale data processing. Invitae’s high sample volume could help PacBio’s long-read sequencing to capitalize on its Wright’s Law curve, as costs decline 28% for every cumulative doubling in the number of whole human genomes sequenced on long-read machines.
In our opinion, HiFi sequencing should help Invitae pull further away from its competition in the molecular diagnostics space, enabling the detection and evaluation of hard-to-sequence variants that could change patient management meaningfully. Unlike with short-read sequencing, HiFi-sequenced genomes should allow for the digital reassessment of patients’ DNA throughout their lifetimes, especially as researchers learn more about hard-to-sequence genes and the effects of structural variation within the human genome.
Ultimately, we believe the combination of talent, resources, know-how, and sample volume should allow both companies push long-read sequencing into routine medical practice faster than otherwise would be the case. By publishing data on clinical utility and diagnostic yields across disease types, they also should be able to demonstrate the system-wide value of HiFi sequencing over short-read whole genome sequencing.
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
georgie18
20 hours ago
CashCowMoo
2 months ago
Zardiw
6 months ago
Timing101
8 months ago
OptimusPrime555
2 years ago
Porterhouse10
3 years ago
LetGoodTimesRoll
4 years ago
JJ8
4 years ago
Hot Features
Premium
