PACB - Pacific Biosciences of California Inc

Pacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes biochemical sequencing reactions. The company also provides consumable products, including sealed and packaged SMRT cells, as well as various reagent kits, such as template preparation, binding, and sequencing kits to run the PacBio RS II or Sequel System. Its customers include research institutions; commercial laboratories; genome centers; clinical, government, and academic institutions; genomics service providers; pharmaceutical companies; and agricultural companies. The company markets its products through a direct sales force in North America and Europe, as well as primarily through distributors in Asia. The company was formerly known as Nanofluidics, Inc. Pacific Biosciences of California, Inc. was founded in 2000 and is headquartered in Menlo Park, California.

 

PACB down hard on loss of a partnership:

What happened - Motely Fool

Shares of Pacific Biosciences of California (NASDAQACB), a small-cap healthcare company focused on genomic sequencing, fell by more than 38% as of 10:40 a.m. EST on Thursday. The decline is directly attributable to the news that healthcare giant Roche Holdings (NASDAQOTH:RHHBY) has decided to terminate its partnership agreement with the company.

So what
Roche and Pacific Biosciences' agreement was originally signed in 2013. The deal allowed Roche to develop diagnostic products based on Pacific Biosciences' SMRT technology and sell them worldwide. Meanwhile, Pacific Biosciences maintained its right to market its products for all fields outside of human in vitro diagnostics.

This agreement also granted Roche the right to walk away from the deal for any reason. News broke today that Roche's management team has decided to exercise that option.