For Pacific Biosciences, a Technical Fix May Have Come Too Late

Pacific BioSciences’ DNA sequencer might have been the Hubble Telescope of biology. But in this case, the key fix that will allow it to see with unheard-of clarity may have come years too late. A new technique dramatically increases the accuracy of the single-molecule DNA sequencing technology like PacBio’s, but it may still be too little to late for the biotechnology company, which has seen its shares drop from more than $16 to $2 since its 2010 IPO. The company’s value on the stock market is currently $43 million less than the amount of cash it has in the bank – meaning that Wall Street expects the company to spend a lot more before it rights itself – or to fail entirely.

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