PacBio rises on strong preliminary Q1 revenue, layoff plan

Pacific Biosciences of California

09/04/2025 14:54

** Shares of life science co PacBio PACB.O rise 8.8% to $1.30

** Co reports preliminary Q1 revenue of $36.9 million vs analysts' average estimate of $33.5 million, according to data compiled by LSEG

** Co plans to reduce its headcount and lower adjusted operating expense run-rate by $45 million to $50 million by year-end

** "Given the persistent uncertainty surrounding academic and NIH funding, along with the introduction of new tariffs, we are taking strategic steps to reduce spending," CEO Christian Henry says

** Up to last close, stock down 34.4% YTD

 (Reporting by Christy Santhosh)

 ((Christy.Santhosh@thomsonreuters.com))