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Wednesday, Sep 25
Pacific Biosciences soars 59% after development deal with Roche
- Pacific Biosciences (PACB +59%) will receive $35M upfront and expects another $40M in funding tied to development milestones. Once development is completed, the company expects to receive further income from the manufacture and supply of products Roche (RHHBY.OB +0.9%) will market.
- Roche: "We see great potential in Pacific Biosciences' sequencing technology for the development of future clinical sequencing applications."
- PACB: "We believe the combination of our SMRT Sequencing technology with Roche's market position and expertise in diagnostics will allow accelerated commercial success for both companies."
- Kudos to SA Pro's Stephen Simpson who just 3 months ago spotted Pacific Biosciences as a risky, but potentially explosive play at about half of today's price.
- Press release.