JPM is over and we’ve had some time to digest. I wrote 9 posts related to sequencing technology at JPM, they are linked below. That’s a lot of reading, so let’s just briefly cover the most interesting and un-interesting points.
Firstly, the Ultima Genomics and Element updates seem to be broadly in line with what we’ve previously heard. They seem to be “fine” but medium to long term prospects less certain.
Oxford Nanopore
Revenue is up slightly. That’s good, I’m skeptical that it’s up enough to push them into profitability by 2027 as they suggest. But I was curious to know where this is coming from. Turns out a lot of it is driven by Plasmidsaurus!
Looking in to Plasmidsaurus, I’m a little skeptical that there’s exponential short term growth for Oxford there. But there could be! And that’s a positive.
Pacific Biosciences
Revenue is down. They remain committed to short reads, which don’t appear to be doing well. They are burning less, consumables revenue is increasing.
Technical progress is very impressive, and lots of interesting things in R&D.
While long reads are clearly scientifically and clinically extremely important. The market seems slow to wake up to this fact…
Illumina
Revenue is flat! But the world is falling apart so flat is the new growth!
The shift toward clinical continues! Now at 56%! The company strategy shift toward clinical also continues! With the mantra of “the highest quality insight for the lowest end-to-end cost” and a move away from “lowest cost per gigabase”.
The technical innovations (Constellation1) that support this appear strong. More innovations like this could help drive further clinical adoption.
All The Posts
More detail in the posts below!
Oxford Nanopore Interim Results - Pre-JPM
Oxford Nanopore - JPM Presentation Initial Thoughts
Oxford Nanopore - Market Breakdown
Pacific Biosciences - Market/Financials
Pacific Biosciences - Technology Updates
And we heard that as expected Constellation is more important in terms of reducing sample prep than the long range information it provides.