Company Overview - PacBio (NASDAQ: PACB) is a leading life science technology company that specializes in designing, developing, and manufacturing advanced sequencing solutions aimed at resolving genetically complex problems [3]. Upcoming Financial Event - PacBio will hold its quarterly conference call to discuss its second quarter 2024 financial results on August 7, 2024, at 4:30 pm Eastern Time [1]. - The call will be accessible via internet webcast and can also be joined through a toll-free number for participants [2][3]. Product and Technology Focus - The company’s products are intended for Research Use Only and are not approved for diagnostic procedures [2]. - PacBio's technologies include HiFi long-read sequencing and SBB® short-read sequencing, which emphasize accuracy, quality, and completeness [3]. - The applications of PacBio's products span various research areas, including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging fields [3].

Pacific Biosciences of California (PACB) , popularly known as PacBio and Form Bio, a provider of advanced computational life sciences technology, recently collaborated and announced a range of new initiatives intended toward advancing and unifying the Adeno-associated virus (AAV) industry. The initiatives, including an AAV data dictionary, open-source tools and more, are being driven by a new AAV Working Group, jointly assembled by Form Bio and PacBio and composed of leading AAV experts across industry and ...

Pacific Biosciences of California (PACB) closed the latest trading day at $1.37, indicating a +0.74% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.71%. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate ...

Consortium Delivers Publicly Available Datasets that Enrich Detection of Rare and Novel Genetic Variants for Advances in Human Disease Research "Joining forces with PacBio has enabled us to leverage their HiFi sequencing capabilities, enhancing the depth and accuracy of the genomic data we can offer to the research community," said Michael Schatz, Bloomberg Distinguished Professor at Johns Hopkins University. "This effort complements existing databases such as gnomAD, as long reads enable much greater sensi ...

Core Viewpoint - Pacific Biosciences of California, Inc. (PacBio) is experiencing growth driven by its focus on research and development, with optimism stemming from a solid first-quarter 2024 performance and ongoing product development activities, despite facing competition and macroeconomic challenges [1][3][10]. Company Performance - Year-to-date, PacBio's stock has declined by 80.9%, contrasting with a 6.9% growth in the industry and an 11.6% gain in the S&P 500 Composite [2]. - The company has a market capitalization of $509 million and projects an 18% growth for 2024, with earnings surpassing the Zacks Consensus Estimate in three of the last four quarters, averaging a surprise of 11.6% [3][10]. Research and Development Focus - PacBio is committed to enhancing its R&D efforts, focusing on developing new and existing platforms while increasing throughput and reducing costs for customers [4]. - The company is developing a high-throughput short-read platform expected to serve high-throughput labs, with an addressable market estimated at over $1 billion annually [6]. - Ongoing development of the next-generation SMRT cell aims to support a new high-throughput long-read platform, significantly increasing throughput compared to the Revio system [7]. Product Development Activities - PacBio is expanding its presence in the RNA-sequencing market, recently launching the PureTarget repeat expansion panel to examine genes linked to severe neurological conditions [8]. - The company introduced two high-throughput library preparation kits optimized for its Revio sequencing system and a versatile Nanobind DNA extraction kit, broadening the range of sample types for long-read sequencing [9]. Financial Results - In the first quarter of 2024, PacBio's earnings aligned with the Zacks Consensus Estimate, while revenues exceeded expectations, with notable growth in product and consumables revenues [10]. - Strong geographical performance in the Asia-Pacific region and EMEA contributed positively, alongside an expansion of the adjusted gross margin [10]. Market Challenges - Macroeconomic factors, including rising inflation and global supply-chain constraints, have negatively impacted PacBio's customers and extended sales cycles, potentially affecting revenues and operations throughout 2024 [11]. - The company faces stiff competition in the nucleic acid sequencing market, with competitors having more resources to adapt to new opportunities and technologies [12]. Estimate Trends - PacBio has seen a positive revision trend for 2024 estimates, with the Zacks Consensus Estimate for adjusted loss per share narrowing from $1.01 to $0.91 over the past 60 days [13]. - The estimated fiscal 2024 revenues are projected at $176.3 million, reflecting a 12.1% decrease from the previous year [13].

Core Viewpoint - Pacific Biosciences of California (PACB) has shown significant stock performance, returning +36% over the past month, outperforming the S&P 500 composite's +6.1% and the Zacks Medical - Instruments industry's +6.9% [2] Earnings Estimate Revisions - The company is expected to report a loss of $0.23 per share for the current quarter, reflecting a year-over-year change of +11.5% [5] - The consensus earnings estimate for the current fiscal year is -$0.91, indicating a year-over-year change of +18%, with a recent change of +8.8% over the last 30 days [5] - For the next fiscal year, the consensus estimate is -$0.75, showing a change of +17.5% from the previous year, although this estimate has decreased by -10.7% recently [6] - The Zacks Rank for Pacific Biosciences is 3 (Hold), indicating a neutral outlook based on earnings estimate revisions [7] Revenue Growth Forecast - The consensus sales estimate for the current quarter is $40.4 million, representing a year-over-year decline of -15.1% [10] - The sales estimates for the current and next fiscal years are $176.32 million and $231.05 million, indicating changes of -12.1% and +31%, respectively [10] Last Reported Results and Surprise History - In the last reported quarter, Pacific Biosciences generated revenues of $38.81 million, a slight year-over-year decrease of -0.2% [11] - The EPS for the same period was -$0.26, compared to -$0.31 a year ago, with a revenue surprise of +0.08% against the Zacks Consensus Estimate [11] - Over the last four quarters, the company has surpassed consensus EPS estimates three times and topped revenue estimates each time [12] Valuation - Pacific Biosciences is graded D on the Zacks Value Style Score, indicating it is trading at a premium compared to its peers [16]

Core Insights - The GREGoR Consortium has selected Ambry Genetics and PacBio to support the Pediatric Mendelian Genomics Research Center program aimed at understanding rare diseases [1][2] - The initiative will utilize long-read sequencing technology to analyze up to 7,000 human whole genomes over three years, focusing on rare disease etiology [2][3] Company Overview - Ambry Genetics is a leader in clinical genomic testing, translating scientific research into actionable test results and has a strong track record in genetic disease understanding [5] - PacBio specializes in advanced sequencing solutions, focusing on accuracy and quality through its HiFi long-read and SBB short-read sequencing technologies [6] Research Objectives - The collaboration aims to enhance understanding of rare diseases by incorporating innovative methods such as phenotyping, variant identification, and functional analysis of genetic alterations [3][4] - The project seeks to discover new rare variants and understand the role of epigenomics in disease manifestation, potentially revolutionizing diagnostic capabilities [3][4]

Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, delivered an adjusted loss per share of 26 cents in first-quarter 2024, narrower than the year-ago loss of 31 cents per share. The adjusted loss per share aligned with the Zacks Consensus Estimate.The company’s GAAP loss per share was 29 cents in the quarter, narrower than the year-ago period’s loss of 36 cents.Revenues in DetailPacBio registered revenues of $38.8 million in the first quarter, down 0.2% year over year. The figure be ...

Financial Performance & Guidance - Q1 2024 revenue was $38.8 million, approximately flat compared to Q1 2023[5, 83] - Q1 2024 Non-GAAP gross margin was approximately 33%, compared to 26% in Q1 2023[83] - PacBio expects full-year 2024 revenue to be between $170 million and $200 million[12, 64] - Non-GAAP operating expenses for 2024 are expected to decline compared to $355 million in 2023, landing between approximately $300 million and $310 million[86] - The company anticipates non-GAAP annualized restructuring savings to exceed $75 million by the end of the year[69] - PacBio projects ending cash, cash equivalents, and investments to be between $435 million and $450 million, representing a cash burn of $189 million at the midpoint[69] Business Updates - Consumable revenue increased by 15% year-over-year, but fell short of expectations[17, 83] - Instrument revenue was $19.0 million, a decrease of 8% year-over-year[83] - The installed base of Revio systems reached 201 as of March 31, 2024, with 28 new installations since December 31, 2023[63] - PacBio is focused on four strategic priorities, including improving commercial execution, reducing operating expenses, continuing platform development, and expanding gross margins[31, 58, 59, 80, 81, 103] - Long-read data generated from PacBio sequencers increased by approximately 2.5x year-over-year, indicating continued market share gain for long-reads[50]

For the quarter ended March 2024, Pacific Biosciences of California (PACB) reported revenue of $38.81 million, down 0.2% over the same period last year. EPS came in at -$0.26, compared to -$0.31 in the year-ago quarter.The reported revenue represents a surprise of +0.08% over the Zacks Consensus Estimate of $38.78 million. With the consensus EPS estimate being -$0.26, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...