Pacific Bio (PACB) Reports In-Line Q1 EPS, Achieves Second Development Milestone

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Go back to Pacific Bio (PACB) Reports In-Line Q1 EPS, Achieves Second Development Milestone

Pacific Biosciences Achieves Second Development Milestone in Clinical Diagnostics Agreement With Roche

May 5, 2015 4:03 PM EDT

MENLO PARK, Calif., May 5, 2015 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (Nasdaq: PACB), provider of the PacBio® RS II Sequencing System, today announced that it has achieved a second development milestone under its development, commercialization and license agreement with F. Hoffman-La Roche Ltd (Roche), earning an additional $10 million.

The development, commercialization and license agreement with Roche covers diagnostic products for clinical use, including sequencing systems and consumables based on Pacific Biosciences' Single Molecule, Real-Time (SMRT®) technology. Under the agreement, Roche has the exclusive right to commercialize and sell the developed diagnostic... More

Pacific Biosciences of California, Inc. Announces First Quarter 2015 Financial Results

May 5, 2015 4:03 PM EDT

MENLO PARK, Calif., May 5, 2015 (GLOBE NEWSWIRE) -- Pacific Biosciences of California, Inc. (Nasdaq: PACB) today reported a 52% increase in revenue with $17.6 million for the first quarter ended March 31, 2015, compared to $11.6 million for the first quarter of 2014.

First quarter 2015 revenue includes product and service revenue of $14.0 million and $3.6 million quarterly amortization from the upfront Roche payment, while first quarter 2014 revenue includes product and service revenue of $9.9 million and $1.7 million quarterly amortization from the upfront Roche payment. The revised revenue recognized for the first quarter ended March 31, 2015 reflects the new amortization schedule resulting from increasing... More