Pacific Biosciences of California (PACB) FY Conference June 11, 2025 10:40 AM ET Speaker0 Great. Well, good morning, everyone. I'm Matt Sykes, life science tools and diagnostics analyst at Goldman Sachs. I have the pleasure of being joined, from PacBio, Jim Gibson, CFO, and Todd Friedman, senior director of IR. Jim, Todd, thanks for being here. Really appreciate it. Thanks, Matt. Maybe starting off, maybe just give everyone a brief background on the company and remind everyone kind of what some of the key p ...

Key Takeaways PacBio beat first-quarter estimates with higher margins and a narrower adjusted operating loss. PACB's Revio and Vega systems drove adoption across research, clinical, and academic markets. PacBio targets $45 to $50 million in annual cost savings via restructuring by the end of 2025.Pacific Biosciences of California, Inc. (PACB) , popularly known as PacBio, has been gaining from its continued product development. The optimism, led by decent first-quarter results, is expected to contribute fu ...

Core Insights - PacBio reported an adjusted loss per share of 15 cents for Q1 2025, an improvement from a loss of 26 cents in the same quarter last year, exceeding the Zacks Consensus Estimate by 21.1% [1] - Total revenues for the first quarter were $37.2 million, down 4.3% year over year, but above the Zacks Consensus Estimate by 6.2% [2] - The company experienced a decline in revenues across the Americas and Asia-Pacific regions, while the EMEA region saw an 11% increase in revenues [3][4][5] Revenue Breakdown - Revenues from the Americas were $16.3 million, an 8% decline year over year due to government funding challenges [3] - Asia-Pacific revenues totaled $11.6 million, reflecting a 9% decline, although consumables performed well due to increased utilization of the Revio system [4] - EMEA revenues reached $9.3 million, an 11% increase, driven by strong Revio placements in the hospital and clinic segment [5] Segment Analysis - Total product revenues were $31.1 million, down 11.1% year over year, with instrument revenues significantly impacted, falling 42.1% to $11 million [6] - Consumables revenues increased by 25.6% to $20.1 million, with annualized Revio pull-through per system at $236,000 [7] - Service and other revenues rose 57.9% to $6 million, attributed to increased service contract revenues related to Revio [7] Margin and Expense Trends - Adjusted gross profit increased 18.8% year over year to $15 million, with adjusted gross margin expanding by 700 basis points to 40% [8] - Sales, general, and administrative expenses decreased by 8.2% to $40.2 million, while research and development expenses fell 33.2% to $29.1 million [8] - Total adjusted operating loss was $54.2 million, an improvement from $74.6 million in the prior year [9] Financial Position - At the end of Q1 2025, PacBio had cash and investments totaling $343.1 million, down from $389.9 million at the end of 2024 [10] Guidance and Outlook - For Q2 2025, PacBio expects revenues to be flat compared to Q1 2025, with a Zacks Consensus Estimate of $36.9 million [11] - The company revised its 2025 revenue outlook to between $150 million and $170 million, down from the previous guidance of $155 million to $170 million [12] Strategic Initiatives - PacBio initiated a company-wide restructuring plan aimed at reducing operating expenses by approximately $45 million to $50 million by the end of 2025 [14] - The company entered a licensing agreement to enhance methylation detection capabilities within its HiFi sequencing platform, which is expected to expand applications in cancer research and rare disease diagnostics [15] - Performance was impacted by macroeconomic challenges, including reduced academic funding and U.S.-China tariffs, leading to a decline in Revio system shipments [16]

Pacific Biosciences of California (PACB) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Company Participants Todd Friedman - Senior Director, FP&A and Investor RelationsChristian Henry - President & Chief Executive OfficerTom Nikic - Managing Director, Equity ResearchJim Gibson - CFOHarrison Parsons - Equity Research AssociateWilliam Ruby - Equity Research Associate Conference Call Participants Jake Titleman - AnalystJack Meehan - Equity Research AnalystAlex Vukasin - VP Healthcare Equity Research AnalystDa ...

PacBio Q1 2025 Earnings Presentation May 8, 2025 First Quarter 2025 Earnings Call 1 Statement regarding use of non‐GAAP financial measures This presentation contains "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. All statements other than statements of historical fact are forward-looking statements, including statements relating to PacBio's cost-saving plans and initiatives as w ...

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 million<td style="borde ...

Core Viewpoint - Rigel Pharmaceuticals reported strong financial results for Q1 2025, with significant revenue growth and net income, positioning the company for continued investment in its pipeline and commercial growth [2][5][6]. Financial Performance - Total revenues for Q1 2025 were $53.3 million, comprising $43.6 million in net product sales and $9.8 million in contract revenues, marking a 68% increase in net product sales compared to $26.0 million in Q1 2024 [5][9]. - Net income for the quarter was $11.4 million, or $0.64 per share, a turnaround from a net loss of $8.2 million in the same period of 2024 [9][26]. - The company anticipates total revenue for 2025 to be approximately $200 to $210 million, excluding $40 million in non-cash revenue expected in Q2 2025 [6][11]. Product Sales - TAVALISSE net product sales reached $28.5 million, a 35% increase from $21.1 million in Q1 2024 [5][7]. - GAVRETO, which became commercially available in June 2024, generated $9.0 million in net product sales [5][7]. - REZLIDHIA net product sales were $6.1 million, reflecting a 25% increase from $4.9 million in the same period of 2024 [5][7]. Clinical Development - The company is advancing its Phase 1b clinical study of R289 for patients with relapsed or refractory lower-risk myelodysplastic syndromes (MDS) [2][7]. - R289 has received Orphan Drug and Fast Track designations from the FDA for the treatment of MDS [6][7]. Corporate Developments - Rigel appointed Dr. Mark Frohlich to its Board of Directors as an independent director [7]. - The company entered a settlement agreement with Annora Pharma regarding patent litigation related to TAVALISSE, allowing Annora to sell a generic version by Q2 2032 under certain conditions [7][8]. - Rigel notified Eli Lilly that it will not exercise its opt-in right for the development of ocadusertib, expecting to recognize approximately $40 million in non-cash revenue in Q2 2025 as a result [7][8]. Cost Structure - Total costs and expenses for Q1 2025 were $40.6 million, up from $36.5 million in Q1 2024, primarily due to increased personnel and research and development costs [8][26].

Core Insights - PacBio has licensed advanced deep learning-based DNA methylation detection methods from The Chinese University of Hong Kong (CUHK) to enhance its HiFi sequencing capabilities, specifically for detecting 5-hydroxymethylcytosine (5hmC), hemimethylated 5-methylcytosine (5mC), and N6-methyladenine (6mA) [1][2][4] Technology and Innovation - The licensed technology includes the Holistic Kinetic Model 2 (HK2), which utilizes an AI deep learning framework to improve the accuracy of methylation detection, including the ability to call native 5hmC in single molecules, a first for HiFi sequencing [2][4] - HiFi sequencing on Revio and Vega platforms allows for comprehensive genome and epigenome readouts from native DNA without chemical conversion or additional sample preparation, enhancing the efficiency of sequencing workflows [3][6] Market Impact - The integration of HK2 is expected to set a new standard for accuracy in DNA methylation detection, particularly for 5mC and 5hmC, which are crucial for research in cancer and human development [4][7] - Institutions like Children's Mercy Kansas City and GeneDx are already utilizing HiFi sequencing for genomic and epigenomic profiling, indicating a growing adoption of this technology in clinical settings [5] Future Prospects - The new capabilities from HK2 will be delivered to existing customers through software updates, ensuring no additional costs or changes to current sequencing protocols [3][8] - The ability to profile 5hmC is anticipated to open new avenues in liquid biopsy and cancer detection, maintaining DNA integrity and supporting haplotype-resolved analysis [6][8]

Core Insights - Editas Medicine is on track to declare two in vivo editing development candidates by mid-2025, one targeting hematopoietic stem cells (HSCs) and the other targeting liver cells [1][2] - The company has demonstrated preclinical proof of concept in non-human primates and humanized mice, showcasing the potential of its gene upregulation strategy across multiple tissues [3][6] - Editas maintains a strong cash position, with cash, cash equivalents, and marketable securities amounting to $269.9 million as of December 31, 2024, which is expected to fund operations into the second quarter of 2027 [4][17] Business Updates - The company achieved in vivo preclinical proof of concept ahead of schedule, indicating significant progress in its gene editing platform [2] - Editas plans to present further preclinical data for HSCs and liver indications by year-end 2025 [1][6] - The company is also on track to establish an additional target cell type or tissue by the end of 2025 [1][6] Financial Performance - For Q4 2024, Editas reported a net loss of $45.4 million, or $0.55 per share, compared to a net loss of $18.9 million, or $0.23 per share, in Q4 2023 [6][14] - Collaboration and other research and development revenues decreased to $30.6 million in Q4 2024 from $60.0 million in Q4 2023, primarily due to revenue recognized from a license agreement with Vertex Pharmaceuticals [6][14] - For the full year 2024, the net loss attributable to common stockholders was $237.1 million, or $2.88 per share, compared to a net loss of $153.2 million, or $2.02 per share, in 2023 [14][15] Restructuring and Cost Management - The company ended the development of its reni-cel program, leading to a workforce reduction of approximately 65% and restructuring charges of $12.2 million in Q4 2024 [6][7] - Research and development expenses decreased to $48.6 million in Q4 2024 from $69.6 million in Q4 2023, primarily due to reduced costs associated with the reni-cel program [6][14] Upcoming Events - Editas Medicine plans to participate in investor events, including the Leerink Partners Global Biopharma Conference and the Barclays 27th Annual Global Healthcare Conference in March 2024 [9]