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Pacific Biosciences (PACB) Plunges 6.14% Amid Cost-Cutting, Leadership Change
Generated by AI AgentAinvest Movers Radar
Friday, Apr 25, 2025 6:33 pm ET1min read
Pacific Biosciences (PACB) shares fell 6.14% intraday, marking the lowest level since November 2012, with a 4.39% decline over the past two days, totaling a 6.84% drop.
Pacific Biosciences has recently been selected as a technology partner for the Davos Alzheimer's Collaborative's project to advance Alzheimer's disease research in North Africa. This partnership underscores the company's significant role in scientific research and could potentially boost investor confidence and stock performance.
On April 9, 2025,
reported preliminary Q1 revenue of $36.9 million, a slight decrease from the previous $38.8 million. Despite meeting expectations, the company announced plans to cut jobs and reduce spending due to uncertainties surrounding NIH funding and new tariffs. This cost-cutting measure aims to reduce annualized operating expenses by $45 million to $50 million, which may influence stock performance.Additionally, on March 27, 2025, Jim Gibson was appointed as the new CFO of Pacific Biosciences. This leadership change could impact investor confidence and strategic financial decisions, potentially affecting the company's stock price.
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