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Yahoo
23-05-2025
- Business
- Yahoo
PacBio Stock Slips Despite New China Distribution Deal With Haorui
PacBio PACB recently announced a key distribution agreement with Haorui Gene, a globally recognized leader in blood typing genomics. This strategic partnership grants PacBio access to a wider clinical laboratory network across China, accelerating the adoption of its HiFi sequencing technology. Haorui Gene, known for its expertise in genomic solutions and extensive reach within the clinical diagnostics ecosystem, will serve as an important channel partner to promote PacBio's advanced long-read sequencing platforms. Through this collaboration, PacBio aims to meet the growing demand for high-accuracy genomic sequencing in China, particularly in clinical research and precision medicine applications. By leveraging Haorui Gene's distribution capabilities and relationships with top-tier laboratories, PacBio is well-positioned to support more comprehensive and precise genomic analysis. Following the announcement, shares of the company closed flat at $1.12 on Friday. In the year-to-date period, PACB's shares have lost 48.6% compared with the industry's 9.7% decline. The S&P 500 decreased 1.2% in the same time frame. The deal with Haorui Gene positions PacBio for long-term growth by expanding its reach into China's vast clinical diagnostics market, enabling broader adoption of its HiFi sequencing technology. Through Haorui's extensive lab network, PacBio can drive recurring revenue from consumables and services while accelerating its footprint in one of the world's largest genomics markets. This strategic move not only boosts technology adoption but also strengthens PacBio's role in advancing precision medicine across Asia, laying the groundwork for future partnerships and population-scale initiatives. Meanwhile, PACB currently has a market capitalization of $294.4 million. The company expects its earnings to grow 16.8% in 2025. Image Source: Zacks Investment Research PacBio's newly formalized distribution agreement with Haorui Gene is focused on accelerating the adoption of HiFi long-read sequencing technology across clinical and research settings in China, particularly in transfusion medicine and hematology. These are fields where comprehensive, accurate genomic data is vital to improving patient outcomes. The partnership is designed to make PacBio's HiFi sequencing the preferred solution for analyzing highly polymorphic genomic regions, structural variants, and full-length genes, areas critical for safe blood transfusions, precise donor-recipient matching, and the identification of rare blood types. Haorui Gene, founded in 2020, has rapidly emerged as a leader in blood typing genomics in China. The company operates seven Sequel II and three Revio systems to support national initiatives in HLA typing, blood group genotyping, and rare blood type discovery. Through its work, Haorui has demonstrated that long-read sequencing can provide unparalleled resolution in genomically complex regions, surpassing the capabilities of traditional short-read technologies. The company has already contributed to over 20 peer-reviewed publications and has seen widespread adoption of its approaches across Chinese blood centers, establishing itself as a trusted player in precision hematology. Under the agreement, Haorui Gene will likely distribute PacBio's full product suite, including the Vega platform, delivering comprehensive, end-to-end solutions for clinical labs, genomics institutions, and blood centers. This supports national initiatives like erythrocyte antigen mapping and rare blood type classification, which require high-resolution, allele-level insights. Haorui's rollout of HiFi-based HLA typing in 2022 and blood group panels in 2023 highlights growing momentum in long-read sequencing. The partnership aims to scale access to PacBio's technology and establish it as a cornerstone of personalized medicine and clinical diagnostics in China's rapidly expanding genomics market. Per a report by Grand View Research, the global long-read sequencing market size was estimated at $538.9 million in 2024 and is expected to witness a CAGR of 20.12% from 2025 to 2030. The major factors driving the market growth include the rising prevalence of genetic diseases, such as cancers and chromosomal disorders, the rising popularity of personalized medicine, and rising technological advancements resulting in the emergence of newer technologies, such as third-generation sequencing. PACB carries a Zacks Rank #3 (Hold) at present. Some better-ranked stocks in the broader medical space that have announced quarterly results are CVS Health Corporation CVS, Integer Holdings Corporation ITGR and AngioDynamics ANGO. CVS Health, carrying a Zacks Rank of 2 (Buy), reported first-quarter 2025 adjusted earnings per share (EPS) of $2.25, beating the Zacks Consensus Estimate by 31.6%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Revenues of $94.59 billion outpaced the consensus mark by 1.8%. CVS Health has a long-term estimated growth rate of 11.4%. Its earnings surpassed estimates in each of the trailing four quarters, with an average surprise of 18.1%. Integer Holdings reported first-quarter 2025 adjusted EPS of $1.31, beating the Zacks Consensus Estimate by 3.2%. Revenues of $437.4 million surpassed the Zacks Consensus Estimate by 1.3%. It currently sports a Zacks Rank #1. Integer Holdings has a long-term estimated growth rate of 18.4%. ITGR's earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 2.8%. AngioDynamics, currently sporting a Zacks Rank #1, reported a third-quarter fiscal 2025 adjusted EPS of 3 cents against the Zacks Consensus Estimate of a 13-cent loss. Revenues of $72 million beat the Zacks Consensus Estimate by 2%. ANGO has an estimated fiscal 2026 earnings growth rate of 27.8% compared with the S&P 500 Composite's 10.5% growth. AngioDynamics' earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 70.9%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report CVS Health Corporation (CVS) : Free Stock Analysis Report Pacific Biosciences of California, Inc. (PACB) : Free Stock Analysis Report Integer Holdings Corporation (ITGR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
09-04-2025
- Business
- Yahoo
PacBio Announces Preliminary First Quarter 2025 Revenue and Reiterates 2025 Revenue Guidance of $155 Million to $170 Million
MENLO PARK, Calif., April 09, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB) today announced preliminary, unaudited revenue for the quarter ended March 31, 2025. Preliminary First Quarter Results Preliminary Q1 2025 Q1 2024 Revenue $36.9 million $38.8 million Instrument revenue $10.8 million $19.0 million Consumable revenue $20.1 million $16.0 million Service and other revenue $6.0 million $3.8 million Revio systems 12 28 Vega systems 28 - Annualized Revio pull-through per system ~$236,000 ~$254,000 Cash, cash equivalents, and investments $343.1 million $561.9 million Our preliminary revenue for the first quarter met our expectations despite impacts from ongoing uncertainty in NIH funding in the United States and broader economic headwinds affecting the industry. Vega system orders accelerated in the first quarter as compared to the fourth quarter of 2024 as the combination of system capability and its attractive price point enabled purchases from both new and existing customers. Preliminary consumable revenue reached a company record. Annualized Revio pull-through per system was approximately $236,000, in line with the company's expectations in the low to mid $200,000s range. In response to ongoing market uncertainty, PacBio is executing a plan to reduce both headcount across all functions and non-headcount related expenses to lower its annualized non-GAAP operating expense run-rate by $45 million to $50 million by year end in relation to its prior guidance of $270 million to $280 million. Following the reductions, PacBio aims to focus on its highest-impact long-read platform development initiatives. Commentary by Christian Henry, President and CEO of PacBio: 'We are pleased with our start to the year as revenue met our expectations and we achieved record levels of consumable revenue. The Vega launch is progressing well, attracting more customers to HiFi sequencing and is expanding our addressable applications. While the funding and general macroeconomic environment is having an impact on our ability to place more instruments, particularly Revio systems at academic customers, we are encouraged by the consistent Revio utilization and annualized consumable pull-through, which remain in line with our expectations.' 'We believe we are on pace to achieve the financial goals we set earlier this year. However, given the persistent uncertainty surrounding academic and NIH funding, along with the introduction of new tariffs, we are taking strategic steps to reduce spending and reinforce our plan to reach positive cash flow by the end of 2027.' 'As a result of the reductions, we plan to focus on three key priorities: Accelerating the adoption of HiFi sequencing, Investing in initiatives that are targeted to improve gross margin, and Advancing innovation in our long-read sequencing portfolio to enhance platform scalability and reduce costs.' 'We are also restructuring our commercial organization to streamline management and improve sales force efficiency, while maintaining our commitment to serving customers across all segments and product lines.' Guidance and Financial Outlook The company reiterates its previous financial guidance including: Full-year 2025 revenue to be $155 million to $170 million. Growth in Vega shipments offsetting a year-over-year decline in Revio system shipments with annualized pull-through per Revio system in the low to mid $200,000s range. 2025 non-GAAP gross margin to be between 35% and 40%. As a result of the expected cost savings associated with the operating expense reductions, the company now expects its 2025 non-GAAP operating expenses to be lower compared to its previous guidance of $270 million to $280 million and expects its ending cash and investments balance to be higher than previous guidance of approximately $260 million. The company expects to provide more details at its earnings call scheduled for May 8, 2025. The preliminary unaudited financial information set forth above is subject to revision and is anticipated to be finalized in May 2025. PacBio's financial results could differ materially from the preliminary estimates above, which are not a comprehensive statement of PacBio's financial results and are not necessarily indicative of the results to be expected as of or for the fiscal period ended March 31, 2025, or any future period. Accordingly, you should not place undue reliance on these preliminary estimates. Quarterly Conference Call Information PacBio will hold its quarterly conference call on Thursday, May 8, 2025, at 4:30 p.m. Eastern Time to discuss its first quarter 2025 financial results. The call will be webcast and may be accessed at PacBio's website at Date: Thursday, May 8, 2025, at 4:30 pm ET (1:30 pm PT) Listen live via internet or replay: Toll-free: 1-888-349-0136 International: 1-412-317-0459 If using the dial-in option, please dial into the call ten minutes prior to start time using the appropriate number above and ask to join the 'PacBio Q1 Earnings Call.' About PacBio PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies stem from two highly differentiated core technologies focused on accuracy, quality and completeness which include our HiFi long-read sequencing and our SBB® short-read sequencing technologies. Our products address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit and follow @PacBio. PacBio products are provided for Research Use Only. Not for use in diagnostic procedures. Statement regarding use of non-GAAP financial measures This press release refers to non-GAAP gross margins and operating expenses, which PacBio reports in addition to, and not as a substitute for, financial measures calculated in accordance with GAAP. Additional details on PacBio's definition of non-GAAP gross margins and operating expenses can be found in the tables accompanying our fourth quarter 2024 earnings press release dated February 13, 2025. PacBio is unable to reconcile the non-GAAP gross margins and operating expense numbers included in this press release because certain items that impact these measures are out of PacBio's control and/or cannot be reasonably predicted at this time. PacBio believes that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP information is not superior to financial measures calculated in accordance with GAAP, is presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of PacBio's non-GAAP financial measures as tools for comparison. Forward-Looking Statements This press release 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 preliminary unaudited financial information as of and for the period ended March 31, 2025; the availability or timing of PacBio's final financial results as of and for the period ended March 31, 2025; PacBio's expectations for future operating results, revenue and guidance; PacBio's cost-saving plans and initiatives as well as the expected financial impact and timing of these plans and initiatives; risks that the operating expense reductions may have an adverse impact on PacBio's business and results of operations; risks that charges associated with PacBio's operating expense reductions may be greater than anticipated; the availability, uses, accuracy, coverage, advantages, quality or performance of, or benefits or expected benefits of using, PacBio products or technologies; and anticipated demand for PacBio's products and technologies in future periods. Reported results and orders for any instrument system should not be considered an indication of future performance. You should not place undue reliance on forward-looking statements because they are subject to assumptions, risks, and uncertainties that could cause actual outcomes and results to differ materially from currently anticipated results. These risks include, but are not limited to, challenges inherent in developing, manufacturing, launching, marketing and selling new products, and achieving anticipated new sales; potential cancellation of existing instrument orders; assumptions, risks and uncertainties related to the ability to attract new customers and retain and grow sales from existing customers; risks related to lengthening sales cycles; risks related to PacBio's ability to successfully execute and realize the benefits of acquisitions; the estimated size and estimated growth for the markets for PacBio's products may be smaller than expected; risks related to reductions in government funding for research grants or contracts; the impact of U.S. export restrictions and tariffs on the shipment of PacBio products to and sourcing of materials from certain countries; rapidly changing technologies and extensive competition in genomic sequencing; unanticipated increases in costs or expenses; interruptions or delays in the supply of components or materials for, or manufacturing of, PacBio products and products under development; potential product performance and quality issues and potential delays in development and commercialization timelines; the possible loss of key employees, customers, or suppliers; customers and prospective customers curtailing or suspending activities using PacBio's products; third-party claims alleging infringement of patents and proprietary rights or seeking to invalidate PacBio's patents or proprietary rights; risks associated with international operations; and other risks associated with general macroeconomic conditions and geopolitical instability. Additional factors that could materially affect actual results can be found in PacBio's most recent filings with the Securities and Exchange Commission, including PacBio's most recent reports on Forms 8-K, 10-K, and 10-Q, and include those listed under the caption 'Risk Factors.' These forward-looking statements, including PacBio's preliminary unaudited financial information and PacBio's financial guidance, are based on current expectations and speak only as of the date hereof; except as required by law, PacBio disclaims any obligation to revise or update these forward-looking statements to reflect events or circumstances in the future, even if new information becomes available. Contacts Investors and Media:Todd Friedman650.521.8450ir@ in to access your portfolio
Associated Press
29-01-2025
- Health
- Associated Press
PacBio Technology Powers Landmark Multiomic Study Published in Nature Genetics
MENLO PARK, Calif., Jan. 29, 2025 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB), a leader in high-quality, long-read sequencing, is proud to announce its critical role in a study to be published in Nature Genetics. The study, titled Synchronized long-read genome, methylome, epigenome, and transcriptome for resolving a Mendelian condition, showcases how researchers leveraged PacBio's advanced sequencing solutions, including the synchronized Fiber-seq and Kinnex (formerly MAS-seq) multiomic approach, to uncover the genetic and molecular basis of a rare and complex Mendelian condition. In collaboration with the University of Washington and the Undiagnosed Diseases Network (UDN), the study applied PacBio's state-of-the-art Revio™ sequencing system to integrate long-read genomic, transcriptomic, methylomic, and epigenomic data in a synchronized analysis to analyze a 9-month-old patient with an unsolved condition involving bilateral retinoblastomas, developmental delays, and additional symptoms. Previous diagnostic methods, including short-read sequencing, were unable to provide an answer. With PacBio's innovative multiomic solutions, researchers identified a chromosome X;13 balanced translocation disrupting four key genes—each through a unique molecular mechanism. 'This study highlights the power of highly accurate long-read multiomic sequencing in understanding the genetic mechanisms behind complex rare diseases,' said Andrew B. Stergachis, MD, PhD, senior author and associate professor at the University of Washington. 'By integrating genomic, transcriptomic, epigenomic, and methylomic data in a single analysis, we were able to pinpoint multiple molecular disruptions contributing to this rare Mendelian condition—findings that would have been impossible with traditional approaches.' Key Findings Enabled by PacBio Technology: Synchronized Multiomic Sequencing: For the first time, a single sequencing run provided simultaneous insights into genome, methylome, epigenome, and transcriptome data, eliminating the need for redundant experiments. Resolution of Complex Mechanisms: PacBio's long-read accuracy uncovered a range of pathogenic events, including fusion transcripts, enhancer adoption, transcriptional readthrough silencing, and epigenetic disruptions—offering a complete genomic picture of the disease. Haplotype-Specific Insights: The technology allowed precise phasing of genetic, epigenetic, and transcriptomic features, crucial for understanding the functional impact of rare variants. 'This is the kind of transformative research we're passionate about enabling,' said David Miller, Vice President of Global Marketing at PacBio. 'The ability to replace multiple legacy assays and simultaneously analyze the genome, methylome, epigenome, and transcriptome in high resolution is a testament to how far HiFi sequencing technology has come. With the latest Revio system and SPRQ chemistry updates launched at ASHG, scientists now have the tools to uncover answers that were previously out of reach. It's thrilling to see this technology driving real-world impact.' This study, spearheaded by a team of renowned researchers including Mitchell R. Vollger, Andrew B. Stergachis, and others, highlights the collaboration between leading institutions such as the University of Washington Center for Mendelian Genomics (UW-CMG) and the Undiagnosed Diseases Network (UDN). Their collective expertise is helping shape the future of genomics, advancing the ability of health care providers to diagnose and treat rare genetic diseases. The findings are available here. For more information on how PacBio's Revio system is redefining multiomics research, visit About Pacific Biosciences PacBio (NASDAQ: PACB) is a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems. Our products and technologies stem from two highly differentiated core technologies focused on accuracy, quality and completeness which include our HiFi long-read sequencing and our SBB® short-read sequencing technologies. Our products address solutions across a broad set of research applications including human germline sequencing, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. For more information, please visit and follow @PacBio. 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. All statements other than statements of historical fact are forward-looking statements, including statements relating to the uses, coverage, advantages, and benefits or expected benefits of using, PacBio products or technologies, including researchers' ability to help shape the future of genomics and advance the ability of health care providers to diagnose and treat rare genetic diseases; and other future events. You should not place undue reliance on forward-looking statements because they are subject to assumptions, risks, and uncertainties and could cause actual outcomes and results to differ materially from currently anticipated results, including, the difficulty of generating discoveries in complicated areas of biology; potential performance, quality and regulatory issues; and third-party claims alleging infringement of patents and proprietary rights or seeking to invalidate PacBio's patents or proprietary rights. Additional factors that could materially affect actual results can be found in PacBio's most recent filings with the Securities and Exchange Commission, including PacBio's most recent reports on Forms 8-K, 10-K, and 10-Q, and include those listed under the caption 'Risk Factors.' These forward-looking statements are based on current expectations and speak only as of the date hereof; except as required by law, PacBio disclaims any obligation to revise or update these forward-looking statements to reflect events or circumstances in the future, even if new information becomes available. Contacts: PacBio For investors:
