Pacific Biosciences Shares Crash on Q1 Revenue Shortfall as Firm Reveals Cost Cutting Plans
PacBio said it would cut its annual operating costs by $50 million to $75 million by the end of this year, with potential "triple digit" layoffs.
The firm has started working with a European consortium to put its instrumentation, which pairs ultrafast optics with efficient reagent usage, into practice.
Bionano Genomics Inks OEM Deal With Chinese Partner to Commercialize Clinical Cytogenetics Workflow
Hangzhou Diagens Biotechnology has already received approval for Bionano's reagents from China's NMPA and plans to register the Saphyr instrument for use in reproductive health.
UPDATE: Abbott Diagnostics Q1 Revenues Down 18 Percent, Total Revenues up 2 Percent
The firm's Q1 diagnostics revenues fell on a declining COVID-19 testing business as COVID-19 test sales dropped to $204 million from $730 million.
TD Cowen Initiates Coverage of Standard BioTools With Buy Rating
The investment bank cited management's focus on operation discipline and the company's recent merger with SomaLogic as helping drive a return to profitability.