On February 15, 2022, the stock of Pacific Biosciences of California, Inc (PACB) closed the trading session at $11.38, gaining 3.64% from the previous trading session. The stock kept oscillating between $10.84 and $11.49. During the last check, the stock lost 12.04% to $10.01 in the after-hours. Pacific Biosciences announced the financial results for its fourth quarter of the fiscal year 2021. The company also filed for Form 8-K with the SEC to announce the quarterly results.
PACB Financials
On February 15, 2022, Pacific Biosciences announced the financial results for Q4 of FY21, which ended on December 31, 2021. The revenue of the company during Q4 of the fiscal year 2021 was $36.01 million against $27.1 million in Q4 of FY20. The revenue increased by 33% during the fourth quarter of FY21. Net loss for Q4 of FY21 was reported to be $69.3 million versus the net income of $74.9 million in the same quarter the previous year. Diluted loss per share was $0.31 as compared to the earnings per share of $0.37 in Q4 of FY20.
News
The company inaugurated the HiFiViral SARS-CoV-2 Kit that labs can use to recognize new SARS-CoV-2 variants and distinguish between all circulating variants. Pacific Biosciences also declared cooperation with Genomics England to utilize HiFi sequencing technology. PACB also collaborated with Berry Genomics to produce a sequencing instrument for the Chinese clinical market.
CEO Remarks
The CEO of Pacific Biosciences Inc, Christian Henry, said that their record fourth-quarter addresses the climax of the most ground-breaking year in PacBio history. He added that they produced new items and hit a significant improvement milestone for the future stages.
Mr. Henry concluded that PacBio should proceed with this force into 2022. Pacific Biosciences should set the stage for sped-up development in the preceding years.
About PACB
Pacific Biosciences Inc is a biotechnology organization that creates and produces frameworks for gene sequencing and novel biological observations. The company is based in Menlo Park, California, United States of America (USA).
