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SoftBank to invest $900m in US gene sequencing firm Pacific Biosciences
Genetics is a key element of healthcare puzzles.
February 11, 2021
Pacific Biosciences of California Inc said on Wednesday SoftBank Group Corp will invest $900 million in the gene-sequencing firm, sending its shares up 21% before the bell.
The latest healthcare investment from SoftBank, in the form of convertible debt, will help accelerate the commercialization of Pacific Biosciences’ gene sequencing technology.
Last month, Bloomberg News reported that SoftBank had picked up a 6% stake in the company.
Pacific Biosciences’ stock has risen more than nine-fold in the last 12 months and has a market value of $7.4 billion.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Pacific Biosciences of California, Inc. Announces Fourth Quarter and Fiscal Year 2020 Financial .
Pacific Biosciences of California, Inc.February 10, 2021 GMT
MENLO PARK, Calif., Feb. 10, 2021 (GLOBE NEWSWIRE) Pacific Biosciences of California, Inc. (NASDAQ: PACB) today announced financial results for the quarter and fiscal year ended December 31, 2020. Reported revenue is consistent with the Company’s press release issued on January 11, 2021.
Q4 2020 Financial Highlights
Revenue for the fourth quarter of 2020 was $27.1 million, representing a 42% increase sequentially compared with $19.1 million for the third quarter of 2020 and a 3% decrease compared with $27.9 million for the fourth quarter of 2019. The Company placed 35 Sequel II/IIe systems during the fourth quarter, bringing the total installed base of Sequel II/IIe systems up to 203 as of December 31, 2020, compared with 1
Shares of Pacific Biosciences of California traded to a new 52-week high after the firm reported that a Softbank Group subsidiary will invest $900 million to support its growth initiatives.