X

Quality Statement

Pacific Biosciences is committed to providing high-quality products that meet customer expectations and comply with regulations. We will achieve these goals by adhering to and maintaining an effective quality-management system designed to ensure product quality, performance, and safety.

X

Image Use Agreement

By downloading, copying, or making any use of the images located on this website (“Site”) you acknowledge that you have read and understand, and agree to, the terms of this Image Usage Agreement, as well as the terms provided on the Legal Notices webpage, which together govern your use of the images as provided below. If you do not agree to such terms, do not download, copy or use the images in any way, unless you have written permission signed by an authorized Pacific Biosciences representative.

Subject to the terms of this Agreement and the terms provided on the Legal Notices webpage (to the extent they do not conflict with the terms of this Agreement), you may use the images on the Site solely for (a) editorial use by press and/or industry analysts, (b) in connection with a normal, peer-reviewed, scientific publication, book or presentation, or the like. You may not alter or modify any image, in whole or in part, for any reason. You may not use any image in a manner that misrepresents the associated Pacific Biosciences product, service or technology or any associated characteristics, data, or properties thereof. You also may not use any image in a manner that denotes some representation or warranty (express, implied or statutory) from Pacific Biosciences of the product, service or technology. The rights granted by this Agreement are personal to you and are not transferable by you to another party.

You, and not Pacific Biosciences, are responsible for your use of the images. You acknowledge and agree that any misuse of the images or breach of this Agreement will cause Pacific Biosciences irreparable harm. Pacific Biosciences is either an owner or licensee of the image, and not an agent for the owner. You agree to give Pacific Biosciences a credit line as follows: "Courtesy of Pacific Biosciences of California, Inc., Menlo Park, CA, USA" and also include any other credits or acknowledgments noted by Pacific Biosciences. You must include any copyright notice originally included with the images on all copies.

IMAGES ARE PROVIDED BY Pacific Biosciences ON AN "AS-IS" BASIS. Pacific Biosciences DISCLAIMS ALL REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, BUT NOT LIMITED TO, NON-INFRINGEMENT, OWNERSHIP, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL Pacific Biosciences BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER WITH RESPECT TO THE IMAGES.

You agree that Pacific Biosciences may terminate your access to and use of the images located on the PacificBiosciences.com website at any time and without prior notice, if it considers you to have violated any of the terms of this Image Use Agreement. You agree to indemnify, defend and hold harmless Pacific Biosciences, its officers, directors, employees, agents, licensors, suppliers and any third party information providers to the Site from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, resulting from any violation by you of the terms of this Image Use Agreement or Pacific Biosciences' termination of your access to or use of the Site. Termination will not affect Pacific Biosciences' rights or your obligations which accrued before the termination.

I have read and understand, and agree to, the Image Usage Agreement.

I disagree and would like to return to the Pacific Biosciences home page.

Pacific Biosciences
Contact:

Pacific Biosciences of California, Inc. Announces First Quarter 2016 Financial Results

Thursday, April 21, 2016

MENLO PARK, Calif., April 21, 2016 (GLOBE NEWSWIRE) — Pacific Biosciences of California, Inc. (NASDAQ:PACB) today announced financial results for its first quarter ended March 31, 2016.

Revenue for the first quarter of 2016 increased by 8% to $19.1 million compared to $17.6 million for the first quarter of 2015. Product and service revenue for the first quarter of 2016 was $15.5 million, compared to $14.0 million for the first quarter of 2015. Revenue for the first quarter of each of 2016 and 2015 reflected $3.6 million of contractual revenue amortization from the upfront Roche payment pursuant to the Roche agreement.

Gross profit increased by $3.6 million to $9.5 million for the first quarter of 2016, resulting in a gross margin of 49.7%, compared to gross profit of $5.9 million and a gross margin of 33.6% for the first quarter of 2015. The growth in gross profit and margin was primarily driven by the higher margin sales of the company’s SequelTM System which was launched in the fourth quarter of 2015.

Operating expenses for the first quarter of 2016 totaled $28.1 million, compared to $25.3 million for the first quarter of 2015. Operating expenses for the first quarter of 2016 and 2015 included non-cash stock-based compensation of $4.1 million and $3.0 million, respectively.

Net loss for the first quarter of 2016 was $19.4 million, compared to $20.2 million for the first quarter of 2015.

Cash and investments at March 31, 2016 totaled $91.5 million, compared to $82.3 million at December 31, 2015

Quarterly Conference Call Information 

Management will host a quarterly conference call to discuss its first quarter 2016 results today at 4:30 p.m. Eastern Time. Investors may listen to the call by dialing 1.888.366.7247, or if outside the U.S., by dialing +1.707.287.9330. The call will be webcast live and will be available for replay at Pacific Biosciences’ website at http://investor.pacificbiosciences.com/.

About Pacific Biosciences

Pacific Biosciences of California, Inc. (NASDAQ:PACB) offers sequencing systems to help scientists resolve genetically complex problems. Based on its novel Single Molecule, Real-Time (SMRT®) Technology, Pacific Biosciences’ products enable: de novo genome assembly to finish genomes in order to more fully identify, annotate and decipher genomic structures; full-length transcript analysis to improve annotations in reference genomes, characterize alternatively spliced isoforms in important gene families, and find novel genes; targeted sequencing to more comprehensively characterize genetic variations; and real-time kinetic information for epigenome characterization. Pacific Biosciences’ technology provides high accuracy, ultra-long reads, uniform coverage, and is the only DNA sequencing technology that provides the ability to simultaneously detect epigenetic changes. PacBio® sequencing systems, including consumables and software, provide a simple, fast, end-to-end workflow for SMRT Sequencing.  More information is available at www.pacb.com

Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the timeline for Pacific Biosciences’ potential development of products for Roche, the attributes and sequencing advantages of SMRT Technology and PacBio sequencing systems and other future events. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, changes in circumstances and other factors that are, in some cases, beyond Pacific Biosciences’ control and could cause actual results to differ materially from the information expressed or implied by forward-looking statements made in this press release. Factors that could materially affect actual results can be found in Pacific Biosciences’ most recent filings with the Securities and Exchange Commission, including Pacific Biosciences’ most recent reports on Forms 8-K, 10-K and 10-Q, and include those listed under the caption “Risk Factors.” Pacific Biosciences undertakes no obligation to revise or update information in this press release to reflect events or circumstances in the future, even if new information becomes available.

Pacific Biosciences of California, Inc.
Unaudited Condensed Consolidated Statement of Operations
(amounts in thousands, except per share amounts)
      
 Quarter Ended March 31,
 2016 2015
Revenue:     
Product revenue$ 12,379  $ 11,308 
Service and other revenue  3,152     2,741 
Contractual revenue  3,596    3,596 
Total revenue  19,127    17,645 
Cost of Revenue:     
Cost of product revenue  6,880    9,732 
Cost of service and other revenue  2,743    1,986 
Total cost of revenue  9,623  
 
 11,718 
Gross profit  9,504    5,927 
Operating
Expense:
     
Research and development  16,361    14,483 
Sales, general and administrative  11,708    10,772 
Total operating expense  28,069    25,255 
Operating loss  (18,565)   (19,328)
Interest expense  (779)   (697)
Other expense, net  (8)   (148)
Net loss$ (19,352) $ (20,173)
Basic and diluted net loss per share$ (0.23) $  (0.27)
Shares used in computing basic and diluted net loss per share  83,604    74,149 

Pacific Biosciences of California, Inc.
Unaudited Condensed Consolidated Balance Sheets
(amounts in thousands)
       
 March 31, December 31,
 2016 2015
Assets   
Cash and investments$91,531 $ 82,270
Accounts receivable 8,009   5,245
Inventory 12,162   10,955
Prepaid and other current assets 7,351   12,071
Property and equipment 9,093   8,548
Long-term restricted cash 4,500   4,500
Other long-term Assets 7,529   7,518
Total Assets$140,175 $ 131,107
       
Liabilities and Stockholders’ Equity      
Accounts payable$4,734 $ 4,749
Accrued expenses 13,644   15,551
Deferred service revenue 7,253   7,958
Deferred contractual revenue 8,539   12,134
Other liabilities 1,462   1,627
Financing derivative 551   600
Notes payable 15,216   14,948
Stockholders’ equity 88,776   73,540
Total Liabilities and Stockholders’ Equity$140,175 $ 131,107
       

Contact:

Trevin Rard

650.521.8450

ir@pacificbiosciences.com

Primary Logo

Source: Pacific Biosciences, Inc.

News Provided by Acquire Media

Press Release

Pacific Biosciences Announces New Chief Executive Officer

Friday, August 7, 2020

Stay
Current

Visit our blog »