Skip to main content
Premium Trial:

Request an Annual Quote

Pacific Biosciences Files for IPO

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Pacific Biosciences has filed for an initial public offering in the US, seeking to raise up to $200 million.

The Menlo Park, Calif.-based maker of a single-molecule, real-time sequencing (SMRT) technology platform, today filed a preliminary prospectus with the US Securities and Exchange Commission for the offering. It has not said how many shares that it intends to offer or when it anticipates the IPO will become effective

The filing comes only a month after Pacific Biosciences announced that it had raised $109 million in a Series F round of financing. The firm has raised around $370 million since its inception through private financings.

PacBio said that it intends to use proceeds from the offering for ongoing R&D associated with the SMRT technology, to increase sales and marketing efforts in advance of its intended commercial launch of the system later this year, to increase the scale of its manufacturing operations, and for general corporate purposes including hiring personnel.

For the year ended Dec. 31, 2009, PacBio brought in revenues of $135,000 and posted a net loss of $87.7 million, or $86.52 per share. For the six months ended June 30, 2010, it generated revenues of $1.2 million and a net loss of $63 million, or $49.79 per share.

As of June 30, PacBio held $138.8 million in cash, cash equivalents, and investments.

Underwriters for the offering include JP Morgan, Morgan Stanley, Deutsche Bank, and Piper Jaffray.

PacBio's IPO filing comes only two weeks after another sequencing firm, Complete Genomics, filed to go public. Complete Genomics said in its filing that it hopes to raise as much as $86.3 million.

The Scan

Panel Votes for COVID-19 Pill

A US Food and Drug Administration panel has voted to support the emergency use authorization of an antiviral pill for COVID-19 from Merck and Ridgeback Biotherapeutics, CNN says.

But Not Harm

New Scientist reports that UK bioethicists say that though gene editing may improve food production, it should not harm livestock welfare.

Effectiveness Drop Anticipated

Moderna's Stéphane Bancel predicts that that current SARS-CoV-2 vaccines may be less effective against the Omicron variant, the Financial Times reports.

Cell Studies of Human Chromatin Accessibility, SARS-CoV-2 Variants, Cell Signaling Networks

In Cell this week: chromatin accessibility maps of adult human tissues, modeling to track SARS-CoV-2 variants of concern, and more.