Pacific Biosciences of California (PACB) surged intraday on Friday after its 2Q 2013 earnings release. By midday, the company's stock had jumped over 8%. Pacific Biosciences is a developing manufacturer of DNA sequencing systems used by large institutions for genetic sequencing. The company has developed and now manufactures an integrated platform for genetic analysis utilizing what it terms as single molecule, real-time technology [SMRT] for the detection of biological processes.
Recovering From The First Blow
Unfortunately, it has been a rough journey trading on the public markets for Pacific Biosciences. Following its IPO in late 2010 at $16/share, the company soon ran into problems in regards to its novel system appropriately named the PacBio RS. Plagued with system...
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