By Christopher Kuo

Pacific Biosciences of California shares fell after the company posted first-quarter revenue below Wall Street estimates.

Shares of the biotechnology company fell 15% on Friday to $1.41. The company's shares are down 25% year to date.

The company on Thursday posted a loss of $8.3 million, or 3 cents a share, compared with a loss of $426.1 million, or $1.44 a share, a year earlier.

Adjusted earnings came in at a loss of 12 cents a share, in line with estimates by analysts, according to FactSet.

Revenue remained steady year over year at $37.2 million. Analysts expected $39.9 million.

Instrument revenue, particularly for its Vega system for DNA sequencing, was lower than expected, said Chief Executive Christian Henry. The decrease in shipments of Vega systems was driven by lighter demand in the U.S., where academic funding remains under pressure.

The company's revenue in Asia-Pacific declined 16% year over year, Henry said, as Chinese service providers wait for the launch of its SPRQ-Nx product.

For 2026, the company expects revenue to range from $165 million to $175 million. Analysts expect $171.5 million.

Write to Christopher Kuo at chris.kuo@wsj.com

(END) Dow Jones Newswires

May 08, 2026 12:11 ET (16:11 GMT)

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