Pacific Biosciences of California Inc PACB:NASDAQ

Last Price$8.79NASDAQ Previous Close - Last Trade as of 4:00PM ET 8/12/22

Today's Change+0.85(10.71%)
Bid (Size)$8.73 (10)
Ask (Size)$8.75 (7)
Day Low / High$8.01 - 9.26
Volume22.3 M

Pacific Biosciences of California, Invitae Modify Development and Commercial Agreement

7:36AM ET 7/01/2022 MT Newswires
Pacific Biosciences of California (PACB) and Invitae (NVTA) have modified their existing development and commercialization agreement, according to a regulatory filing Friday with the US Securities and Exchange Commission from Pacific Biosciences.

In connection with the modified agreement, Pacific Biosciences said that it will still receive feedback, input, and insight from Invitae regarding the planned development of its new sequencing systems, but Invitae has no contractual rights to take part in decisions on the development program for the sequencing systems.

The company said that Invitae will not be required to pay to Pacific Biosciences for development costs. Additionally, the company said that it will supply Invitae credits and discounts linked to Invitae's planned purchase of sequencing systems, in consideration of development costs Invitae paid to the company under the original agreement.

Price: 4.45, Change: +0.03, Percent Change: +0.68