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PACB - PacBio quarterly net loss narrows 7% but misses on the bottom line
Pacific Biosciences of California Inc.
Although PacBio's (NASDAQ:PACB) Q1 2022 net loss narrowed 7% to $81.5M (-$0.37 basic and diluted per share), the biotech still missed consensus estimates on the bottom line. Revenue of ~$33.2M in the quarter was ~14.4% year-over-year increase. PacBio (PACB) was negatively impacted in the quarter by a ~96% increase in operating expenses to $91.7M. The company ended the quarter with $962.8M in cash. Seeking Alpha contributor Stephen Simpson says that PacBio (PACB) is a buy.