Shares of Pacific Biosciences of California Inc. PACB,
rose 22.3% against a record in the morning trading on Wednesday, ahead of the genetic analysis firm’s report in the fourth quarter after the closing bell, following the announcement that the SFTBY, the Softbank Group Corp. in Japan,
9984,
Invested $ 900 million in the company. The share has now risen by 230.0% over the past three months and skyrocketed by 1,051.7% over the past year. For comparison, the iShares Nasdaq Biotechnology ETF IBB,
has increased by 39.7% over the past 12 months and the S&P 500 SPX,
achieved 16.5%. The company said Softbank’s investment was in the form of convertible senior notes, which matured in February 2028 and would have an initial conversion price of $ 43.50, or 10% above Tuesday’s closing price of $ 39.54. “We believe that PacBio’s HiFi sequence will be the de facto standard for population genomics that will fundamentally change the practice of healthcare,” said Akshay Naheta, CEO of Softbank’s SB Management. Separately, Pacific Biosciences is expected to report fourth-quarter earnings of 43 cents per share on revenue of $ 24.05 million, after equating to one share per share on revenue of $ 27.93 million, in the same period a year ago.
