Pacific Biosciences Faces Revenue Decline, Eyes Future Growth
Company Announcements

Pacific Biosciences Faces Revenue Decline, Eyes Future Growth

An announcement from Pacific Biosciences ( (PACB) ) is now available.

PacBio reported a decline in third-quarter 2024 revenue to $40 million from $55.7 million in the previous year, with a net loss of $60.7 million. Despite the challenging economic climate, the company is optimistic about returning to growth, bolstered by new product launches like the Vega sequencer and advancements in sequencing technology. The firm is focused on reducing cash burn, enhancing its balance sheet, and expanding its reach with innovative solutions to capture more market share.

Find detailed analytics on PACB stock on TipRanks’ Stock Analysis page.

Related Articles
TheFlyCathie Wood’s ARK Investment buys 289K shares of PacBio today
TheFlyCathie Wood’s ARK Investment buys 1.01M shares of PacBio today
TheFlyPacBio downgraded to Neutral from Buy at UBS
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App