Pacific Biosciences of California, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 01:37 am IST
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Pacific Biosciences of California, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 55.69 million compared to USD 32.31 million a year ago. Net loss was USD 66.87 million compared to USD 76.97 million a year ago. Basic loss per share from continuing operations was USD 0.26 compared to USD 0.34 a year ago. Diluted loss per share from continuing operations was USD 0.26 compared to USD 0.34 a year ago.
For the nine months, revenue was USD 142.16 million compared to USD 100.95 million a year ago. Net loss was USD 224.72 million compared to USD 229.86 million a year ago. Basic loss per share from continuing operations was USD 0.9 compared to USD 1.03 a year ago. Diluted loss per share from continuing operations was USD 0.9 compared to USD 1.03 a year ago.
Pacific Biosciences of California, Inc. is a life science technology company. It is engaged in designing, developing, and manufacturing advanced sequencing solutions that enable scientists and clinical researchers to resolve genetically complex problems. Its products and technology under development stem from two differentiated core technologies, which include its HiFi long-read sequencing technology and its Sequencing by Binding (SBB) short-read sequencing technology. Its products address solutions across a set of applications, including human genetics, plant and animal sciences, infectious disease and microbiology, oncology, and other emerging applications. It has developed HiFi long-read sequencing based on Single-Molecule Real-Time technology, which accurately detects the nucleotide sequence and epigenetic status of individual DNA molecules. Its Revio, Sequel, Sequel II and Sequel IIe instruments conduct, monitor, and analyze single-molecule biochemical reactions in real time.