Pacific Biosciences of California – NasdaqGS: PACB

The Company is set with the cash it needs for now. They are making progress. The recent conference call had CEO Michael Hunkapiller noting, “We booked new orders for 7 PacBio RS II systems and installed 3 systems, which brings our backlog of systems up to 10 as of the end of June. We booked 23 new orders for RS II upgrades. As a reminder, we booked orders for 31 upgrades in Q1 out of an installed base of 74. We installed 34 upgrades during Q2, leaving 20 upgrades in backlog at the end of June.”

He further pointed out, “Total revenue grew sequentially to $6 million and with the growing backlog, we are well positioned to drive further revenue growth this year. And finally, we raised an additional $11 million in equity using our aftermarket stock offering through Cantor Fitzgerald. Year-to-date, we have raised $20 million in equity plus $20 million in debt. This cash provides us with greater flexibility and time to further develop our products and grow the business.” (Source Seeking Alpha – see sources at end of article for link.)

Recent days have seen the company two 52 week highs, the second of which is $4.72 from August 26th.

 

 

 

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