Pacific Biosciences

Illumina and PacBio wrote that the agency "has failed to establish that Illumina's short-read systems and PacBio's native long-read systems compete."

In a notice posted on its website, the Competition and Markets Authority said it is extending its inquiry, with a new deadline of Feb. 5, 2020.

ONT called Illumina's revised remedies proposal an "illusory offer" that doesn't offset the anticompetitive effects of an Illumina-PacBio merger.

In a revised remedies proposal to the UK's Competition and Markets Authority, Illumina offered licenses to a wider swath of IP held by it and PacBio.

In a response to the UK CMA's findings that the PacBio deal would lessen competition, Illumina said it would be open to licensing some IP to Oxford Nanopore.

Strong growth in instrument revenue, driven by sales of the Sequel II system, was tempered by decreased consumable revenue as customers transitioned to the new platform.

The UK Competition and Markets Authority said blocking the deal could prevent a "substantial lessening of competition" in the NGS market.

The bank believes investors are too focused on the potential of PacBio's merger with Illumina falling through rather than recent developments regarding its technology.

Personal Genomics alleged that PacBio tried to sublicense the patent-in-suit in the years prior to its launch of the Sequel sequencing platform.