Why Pacific Biosciences of California Inc. (PACB) stock faced headwinds on Monday?

Pacific Biosciences of California Inc. (PACB) plunged 8.62% in after-hours on Monday, January 10, 2022, and closed the daily trading at $15.15. Even in the regular trading session of Monday, PACB’s stock lost 1.07%. PACB shares have fallen 51.61% over the last 12 months, and they have moved down 20.67% in the past week. Over the past three months, the stock has lost 30.86%, while over the past six months, it has declined 44.12%.

Let’s briefly discuss its recent news and developments.

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PACB participation in the upcoming conference

PacBio executives will be participating virtually at the 40th Annual J.P. Morgan Healthcare Conference on January 13, 2022, at 12:00 pm Eastern Time (9:00 am Pacific Time).

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PACB system chosen by Radboud University Medical Center

On January 07, 2022, Radboud University Medical Center (Radboudumc) in Nijmegen, the Netherlands announced to chose new PacBio Sequel IIe Systems, to increase their SMRT sequencing capacity.

Radboudumc has been using PACB long-read technology for the last three years to identify hidden variants that cause rare diseases. It is easy to identify variants for the Radboudumc team that may cause X-linked color vision deficiencies such as Bornholm Eye Disease and Blue Cone Monochromacy, by using PacBio systems.

PACB extended its services for Azenta Life Sciences

On January 06, 2022, PacBio (PACB) expanded its extensive suite of HiFi applications with Azenta Life Sciences, formerly GENEWIZ. The deal will increase PacBio’s HiFi sequencing platforms across Azenta’s newly combined company and support Azenta’s mission to enable life science companies to deliver impactful breakthroughs and therapies to market faster.

Collaboration with Care4Rare

On January 05, 2022, PacBio and the Care4Rare Canada Consortium (Care4Rare) announced their collaboration to study some of the most complex unexplained rare disease cases within Canada.

Care4Rare has 21 academic sites across Canada and is recognized internationally as a pioneer in the field of genomics and personalized medicine.

Care4Rare will use PACB HiFi long-read whole-genome sequencing (WGS) technology to study rare disease samples that have already been sequenced with short-read WGS technology, but for which no genetic variant was identified.

PACB HiFiViral Surveillance Kit against Omicron

On December 28, 2021, PacBio (PACB), announced that its new HiFiViral SARS-CoV-2 solution has successfully sequenced and captured the entire genome of the SARS-CoV-2 Omicron variant lineage. The solution gives researchers around the globe a powerful tool to access complete genomic information on Omicron, without gaps in sequencing information that can result from mutations that occur along the SARS-CoV-2 virus genome.

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Well, we have all positive news but its plummeting on Monday is a bit strange. We can expect it to bounce back in the coming trading sessions on Tuesday.

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