Pacific Biosciences Posts $140M Loss, $1.7M in Revenues for 2010

from GenomeWeb

NEW YORK (GenomeWeb News) – Pacific Biosciences reported after the close of the market Tuesday an increase in its grant revenues for the fourth quarter and full-year 2010, and a $140.2 million loss for the year as it prepares for the commercial launch of its PacBio RS system.

The Menlo Park, Calif.-based firm reported fourth-quarter revenues of $280,000, up from $220,000 for the fourth quarter of 2009. All of its Q4 and FY 2010 revenues are from government grants.

PacBio anticipates commercial launch of its first product — the real-time, single-molecule PacBio RS sequencing system — in the second quarter of this year.

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