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Q4 revenues totaled $27.1 million, down from $27.9 million in Q4 of 2019 but beating the average Wall Street estimate of $25.4 million.
The company plans to use the new funding, which will come from the sale of convertible senior notes due 2028, to support unspecified future growth initiatives.
The approach considers kinetic signals from the DNA polymerase used in PacBio sequencing, as well as the sequence context, to determine cytosine methylation sites.
The sequencing company reported preliminary fourth quarter revenues of $27 million and said it currently has $318 million in cash and investments.
In Nature this week: a new method for high-throughput amplicon sequencing, and more.
The partners will use PacBio's HiFi sequencing to develop assays for carrier screening, evaluating immune system responses, and diagnosing heritable diseases.
The firm also said that it placed 35 Sequel II/IIe Systems in Q4 2020, bringing its total installed base to 203 as of the end of the year.
Some core labs are expecting long waitlists in 2021 as PacBio's HiFi reads draw interest from researchers looking to put together whole genomes.
Despite the havoc wreaked by the COVID-19 pandemic on the economy, several companies in the index saw their shares rise by triple-digit percentages last year.
SARS-CoV-2 vaccine developers are evaluating further vaccine doses as well as modified doses to keep up with new viral variants, according to CNN.
The New York Times reports that a new viral variant of concern has been identified in New York City.
In Nature this week: spatiotemporally resolved map of the human cell cycle, folding single-cell RNA sequencing into cancer drug studies, and more.
According to BBC News, the global vaccine-sharing initiative has sent its first shipment, which arrived in Ghana this week.