PacBio Announces Fourth Quarter and Fiscal Year 2021 Financial Results

About this update from Pacific Biosciences Of California, Inc.

[{"type":"text","content":"MENLO PARK, Calif., Feb. 15, 2022 (GLOBE NEWSWIRE) -- PacBio (NASDAQ: PACB) today announced financial results for the quarter and fiscal year ended December 31, 2021. Updates since our last earnings release Achieved record fourth quarter revenues of $36.0 million reflecting growth of 33% compared to the prior year period and grew the Sequel II/IIe installed base by 84% to 374 as of December 31, 2021.Launched the HiFiViral SARS-CoV-2 Kit – a fully kitted end-to-end solution for COVID-19 surveillance that public health laboratories can use to identify new SARS-CoV-2 variants and detect all circulating variants within a population.Developed significant enhancements to the Sequel II/IIe platform that are expected to be released in April of this year, including on-instrument methylation calling, standardized gene editing QC workflows, and high throughput setup capabilities, including automation scripts for liquid handling.Announced a collaboration with Genomics England to use HiFi sequencing technology to re-sequence a cohort of samples previously analyzed with short-read sequencing technology to help identify genetic variants in patients with unexplained rare diseases.Partnered with Berry Genomics to develop a long-read desktop sequencing instrument for the clinical market in China.Announced a research collaboration with Google to explore the use of its genomic analysis, machine learning, and algorithm development tools to further improve PacBio's already highly-accurate variant calling protocols, unlocking more insights from PacBio sequencing data.Broadened our clinical research collaborations with several leading institutions, including ARUP Laboratories, UCLA Health, and the Care4Rare Consortium, to further demonstrate the utility of HiFi sequencing.Expanded the commercial leadership team with the hire of Lara Toerien as General Manager of Americas, Jason Kang as General Manager of Asia Pacific, and the appointment of Chris Seipert as Head of Customer Experience. \"Our record fourth quarter represents the culmination of the most transformative year in PacBio history,\" said Christian Henry, President and Chief Executive Officer. \"We developed new products and hit major development milestones for future platforms. We saw tangible progress from our existing clinical research collaborations and inked new ones. I expect PacBio to co...

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