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PacBio (PACB) Gets New Order for Revio System From Bioscientia
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Pacific Biosciences of California (PACB - Free Report) , popularly known as PacBio, announced that Bioscientia, a leading provider of clinical diagnostics and genomic services in Europe, has adopted its Revio long-read sequencing system to enhance the latter’s capabilities in genetic testing and research.
The system will allow Bioscientia to leverage PacBio's Single Molecule, Real-Time (SMRT) Sequencing technology, which produces long and highly accurate reads that can span complex regions of the genome. It also features a modular and scalable design that can accommodate different sample types and throughput needs.
Price Performance
Shares of the company have risen 60.4% year to date compared with the industry’s 6.6% growth. The S&P 500 Index has improved 15% in the same time frame.
Image Source: Zacks Investment Research
Advantages of the Revio System
The long-read sequencing system can consolidate multiple tests into a single, comprehensive solution. This eliminates the need for the time-consuming and costly multi-stage vetting process that was formerly required for diagnosing rare diseases and developmental delay disorders.
Previously, separate experiments like chromosome analysis, optical genome mapping and short-read exome sequencing were required to diagnose these conditions. However, the Revio system can now provide researchers with all the required data in a single analysis. This way, it gets faster and easier to identify the genetic causes of rare diseases, improving diagnosis and treatment.
The system will significantly expand Bioscientia's genomics capabilities that will help offer more comprehensive and accurate testing for monogenic disorders, such as deafness, blindness and developmental delay. It will also help detect the underlying causes of rare diseases.
The long-read sequencing system will aid Bioscientia in providing lower overall costs and better insights to families using fewer tests. It will also reduce the time spent in assembling genome maps.
The Revio system will also be used by Bioscientia for extended testing of samples that are partially solved and scenarios of recessive diseases. Bioscientia's existing technologies of short-read exome sequencing have not been able to provide complete, definitive explanations for these situations.
Industry Prospects
Per a report by Grand View Research, the global whole genome sequencing market was valued at $1,645.2 million in 2022 and is anticipated to witness a CAGR of approximately 20.1% during 2023-2030. Factors like the growing prevalence of genetic disorders and mutations that lead to cancer progression, and the possibility of identification and diagnosis of targeted diseases are expected to drive the market.
Given the market potential, the latest tie-up is expected to significantly strengthen PacBio’s global business.
Notable Developments
Earlier this month, PacBio announced a clinical research study with Radboud University Medical Center (Radboudumc) to explore genetic causes of rare and genetic diseases. The study is also expected to explore the feasibility and cost-effectiveness of using PacBio’s HiFi sequencing technology for routine clinical use.
PacBio and Radboudumc aim to discover the genetic origins of rare and genetic diseases via collaboration.
Last month, PacBio announced its first-quarter 2023 results, wherein there was a robust increase in its overall top line, including strong revenues from Instrument and Consumables. Solid performances in the Asia-Pacific and Europe, the Middle East and Africa regions were also witnessed.
In April, PacBio publicized the availability of its new high-throughput Nanobind DNA Extraction kits. The kits, a key product from the company’s Circulomics acquisition, are based on proprietary Nanobind disks. These disks can be used to extract DNA from diverse sample types, including blood, cell and tissue.
Hologic has an estimated growth rate of 5% for fiscal 2024. The company’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 27.32%.
HOLX’s shares have risen 8.4% year to date compared with the industry’s 6.6% growth.
Alcon has an estimated long-term growth rate of 14.9%. Its earnings surpassed estimates in three of the trailing four quarters and met the same once, delivering an average surprise of 8.85%.
ALC’s shares have rallied 17.2% year to date compared with the industry’s 6.6% growth.
Perrigo’s earnings are expected to improve 24.6% in 2023. The strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed the same twice, delivering an average negative surprise of 0.79%.
The company’s shares have lost 1.9% year to date against the industry’s 4.8% growth.
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PacBio (PACB) Gets New Order for Revio System From Bioscientia
Pacific Biosciences of California (PACB - Free Report) , popularly known as PacBio, announced that Bioscientia, a leading provider of clinical diagnostics and genomic services in Europe, has adopted its Revio long-read sequencing system to enhance the latter’s capabilities in genetic testing and research.
The system will allow Bioscientia to leverage PacBio's Single Molecule, Real-Time (SMRT) Sequencing technology, which produces long and highly accurate reads that can span complex regions of the genome. It also features a modular and scalable design that can accommodate different sample types and throughput needs.
Price Performance
Shares of the company have risen 60.4% year to date compared with the industry’s 6.6% growth. The S&P 500 Index has improved 15% in the same time frame.
Image Source: Zacks Investment Research
Advantages of the Revio System
The long-read sequencing system can consolidate multiple tests into a single, comprehensive solution. This eliminates the need for the time-consuming and costly multi-stage vetting process that was formerly required for diagnosing rare diseases and developmental delay disorders.
Previously, separate experiments like chromosome analysis, optical genome mapping and short-read exome sequencing were required to diagnose these conditions. However, the Revio system can now provide researchers with all the required data in a single analysis. This way, it gets faster and easier to identify the genetic causes of rare diseases, improving diagnosis and treatment.
The system will significantly expand Bioscientia's genomics capabilities that will help offer more comprehensive and accurate testing for monogenic disorders, such as deafness, blindness and developmental delay. It will also help detect the underlying causes of rare diseases.
The long-read sequencing system will aid Bioscientia in providing lower overall costs and better insights to families using fewer tests. It will also reduce the time spent in assembling genome maps.
The Revio system will also be used by Bioscientia for extended testing of samples that are partially solved and scenarios of recessive diseases. Bioscientia's existing technologies of short-read exome sequencing have not been able to provide complete, definitive explanations for these situations.
Industry Prospects
Per a report by Grand View Research, the global whole genome sequencing market was valued at $1,645.2 million in 2022 and is anticipated to witness a CAGR of approximately 20.1% during 2023-2030. Factors like the growing prevalence of genetic disorders and mutations that lead to cancer progression, and the possibility of identification and diagnosis of targeted diseases are expected to drive the market.
Given the market potential, the latest tie-up is expected to significantly strengthen PacBio’s global business.
Notable Developments
Earlier this month, PacBio announced a clinical research study with Radboud University Medical Center (Radboudumc) to explore genetic causes of rare and genetic diseases. The study is also expected to explore the feasibility and cost-effectiveness of using PacBio’s HiFi sequencing technology for routine clinical use.
PacBio and Radboudumc aim to discover the genetic origins of rare and genetic diseases via collaboration.
Last month, PacBio announced its first-quarter 2023 results, wherein there was a robust increase in its overall top line, including strong revenues from Instrument and Consumables. Solid performances in the Asia-Pacific and Europe, the Middle East and Africa regions were also witnessed.
In April, PacBio publicized the availability of its new high-throughput Nanobind DNA Extraction kits. The kits, a key product from the company’s Circulomics acquisition, are based on proprietary Nanobind disks. These disks can be used to extract DNA from diverse sample types, including blood, cell and tissue.
Pacific Biosciences of California, Inc. Price
Pacific Biosciences of California, Inc. price | Pacific Biosciences of California, Inc. Quote
Zacks Rank & Stocks to Consider
PacBio currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Hologic (HOLX - Free Report) , Alcon (ALC - Free Report) and Perrigo (PRGO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has an estimated growth rate of 5% for fiscal 2024. The company’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 27.32%.
HOLX’s shares have risen 8.4% year to date compared with the industry’s 6.6% growth.
Alcon has an estimated long-term growth rate of 14.9%. Its earnings surpassed estimates in three of the trailing four quarters and met the same once, delivering an average surprise of 8.85%.
ALC’s shares have rallied 17.2% year to date compared with the industry’s 6.6% growth.
Perrigo’s earnings are expected to improve 24.6% in 2023. The strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed the same twice, delivering an average negative surprise of 0.79%.
The company’s shares have lost 1.9% year to date against the industry’s 4.8% growth.