For Pacific Biosciences, a Technical Fix May Have Come Too Late
7/2/2012 8:17:07 AM
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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