PacBio Shares Rise After NCCS Partnership for Cancer Genomics Research

Pacific Biosciences, Inc. PACB, popularly known as PacBio, has signed a new Research Collaboration Agreement with the National Cancer Centre of Singapore (NCCS) to enhance Asian cancer research. Leveraging PacBio's Onso short-read sequencing platform, the collaboration aims to enable researchers to profile the genomic landscape of prevalent cancers, including gastrointestinal stromal tumors.PacBio's partner, Diethelm Keller Siber Hegner (DKSH), a Swiss company specializing in market expansion services, particularly in Asia has installed the Onso platform at the Cancer Discovery Hub in NCCS, enhancing cancer research in Singapore. This initiative will provide Singapore's Cancer Discovery Hub and the broader Asian research community with cutting-edge sequencing technologies that have the unique ability to deliver highly accurate data at scale for cancer diagnostics and therapeutic discoveries.The research project will focus on profiling prevalent cancers in Asia using PacBio’s Onso short-read sequencing system and Kinnex long-read sequencing kit, with a focus on single-cell RNA sequencing.Likely Trend of PACB Stock Following the NewsFollowing the news, shares of PACB rose 27.7% to $1.98 closing on Friday.Shares of Pacific Biosciences have plunged 79.8% year to date against the industry’s 6.6% growth. The S&P 500 has risen 21.8% in the same time frame.PacBio is experiencing positive price performance following its partnership with the NCCS. This collaboration enhances PacBio's position in cancer genomics, signaling strong investor sentiment and optimism around the company's growth potential in precision oncology and genomics research.Image Source: Zacks Investment ResearchSignificance of PacBio’s Collaboration With NCCSThis collaboration marks a key advancement in cancer genomics in Asia by integrating PacBio's Onso short-read and Revio long-read sequencing technologies. By providing a more comprehensive analysis of cancer genomes at the single-cell level, this research will offer deeper insights into genetic variants and transcript isoforms, driving precision oncology forward. The collaboration strengthens PacBio’s commitment to supporting cancer research and accelerating discoveries that could significantly impact cancer treatment and diagnostics.PacBio's collaboration with NCCS aims to deepen understanding of cancer genomics in Asia through combined short- and long-read sequencing. This partnership, supported by PacBio’s Onso platform and its partner DKSH, empowers researchers to explore cancer biology in greater detail, ultimately improving diagnostic and treatment options for patients.Market Prospects Favoring PACBPer a report in Grand View Research, the global short-read sequencing market size was worth $5.7 billion in 2023. It is anticipated to reach $18.7 billion by 2030 at a CAGR of 18.5%. The robust growth is likely to be driven by the higher adoption of short-read sequencing over long-read sequencing, a decrease in cost for genetic sequencing, a rise in the adoption of personalized medicine and companion diagnostics, and an increase in collaborations & partnerships for genetic sequencing.Recent Development at PacBioThis Month, PacBio, in partnership with ASTAR and Macrogen, has opened a joint laboratory at ASTAR GIS in Singapore, providing advanced long-read sequencing technology to the local research community. This collaboration aims to enhance precision medicine, population genomics and health research in Southeast Asia. The lab, equipped with two PacBio Revio systems, will serve as a hub for genomics innovation, enabling broader research capabilities and expanding next-generation sequencing projects in the region.Zacks Rank & Key PicksCurrently, PacBio carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader medical space are Aveanna Healthcare AVAH, Quest Diagnostics (DGX) and RadNet (RDNT). While Aveanna Healthcare sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and RadNet carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Aveanna Healthcare’s earnings surpassed estimates in each of the trailing four quarters, with the average being 47.5%.AVAH’s shares have gained 85.5% compared with the industry's 16.9% growth year to date.Quest Diagnostics has an estimated long-term growth rate of 6.8%. DGX's earnings surpassed estimates in each of the trailing four quarters, with the average being 3.3%.Quest Diagnostics has gained 7.9% compared with the industry's 14.9% growth year to date.RadNet’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 98.2%.RDNT's shares have surged 93.7% year to date compared with the industry’s 14.8% growth.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Quest Diagnostics Incorporated (DGX): Free Stock Analysis Report RadNet, Inc. (RDNT): Free Stock Analysis Report Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis Report Aveanna Healthcare Holdings Inc. (AVAH): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks