Pacific Biosciences Goes Public
Shares closed the first day of trading at $16.44 per share. Unlike other analytical instrument providers, IPOs were viable options for Pacific Biosciences and Helicos BioSciences (see IBO 5/31/10) due to the strength of the DNA sequencing market. Also set to go public, at a price of $12–$14 per share, is Complete Genomics, which offers next-generation sequencing services based on its proprietary sequencing technology. The technology utilizes DNA nanoarrays and ligation-based read technology.
Menlo Park, CA 10/26/10; Washington, DC 10/26/10; New York, NY 10/27/10—DNA sequencer developer Pacific Biosciences completed its IPO (see IBO 8/31/10, 10/15/10) on October 26, selling 12.5 million shares of its common stock at $16 per share, which was the mid-range of its pricing. The sale raised $200 million, according to an SEC filing. Shares began trading on the NASDAQ Global Select Market under the ticker symbol “PACB” on October 27, trading at a price of $16.50 per share, with an initial market capitalization of $801.8 million (see page 4).
