An announcement from Pacific Biosciences ( (PACB) ) is now available.
PacBio reported a decline in third-quarter 2024 revenue to $40 million from $55.7 million in the previous year, with a net loss of $60.7 million. Despite the challenging economic climate, the company is optimistic about returning to growth, bolstered by new product launches like the Vega sequencer and advancements in sequencing technology. The firm is focused on reducing cash burn, enhancing its balance sheet, and expanding its reach with innovative solutions to capture more market share.
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