PACIFIC BIOSCIENCES OF CALIFORNIA, INC. 8-K

What Happened

• Pacific Biosciences of California, Inc. announced it completed an Asset Purchase Agreement with Illumina Cambridge Limited (with Illumina, Inc. noted for a limited purpose), closing on January 30, 2026. Under the agreement Illumina acquired certain intellectual property and other assets related to PacBio’s short‑read DNA sequencing technology, clustering, sequencing reagent, and detection technologies.
• Consideration included $50.0 million in cash and assumption of certain liabilities by the buyer. Illumina also granted Pacific Biosciences a non‑exclusive license to certain purchased intellectual property. After a directed payment of 4% of net proceeds to former Apton Biosystems equity holders (related to waiving milestone obligations), PacBio received approximately $48.1 million in net cash. The company filed pro forma condensed consolidated financial statements reflecting the Asset Sale and issued a press release on February 2, 2026.

Key Details

• Purchase price: $50.0 million cash (buyer assumed certain liabilities).
• Net cash to PacBio: approximately $48.1 million after a planned 4% payment to former Apton equity holders (payment expected Q1 2026).
• Assets sold: IP and other assets tied to short‑read sequencing, clustering, sequencing reagents, and detection technologies.
• Closing date: January 30, 2026; pro forma financials and a press release were filed with the 8‑K.

Why It Matters

• The transaction removes the specified short‑read sequencing assets from PacBio’s balance sheet and provides an immediate cash inflow (~$48.1M), which will be reflected in the company’s pro forma financials filed with the 8‑K.
• PacBio retains a non‑exclusive license to some of the sold IP, which may allow continued use of certain technologies while transferring ownership and related obligations to Illumina. Investors should note the change in asset composition and the one‑time cash impact when assessing liquidity and future revenue mix.